Finland’s National Land Survey, known as Maanmittauslaitos in Finnish, lacks statistics on the nationality of property owners. This absence of information is particularly concerning as multinational firms seek to capitalize on Finland’s low electricity prices to establish data centers.
Key Points
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Lack of Comprehensive Data: Maanmittauslaitos does not maintain complete records of land ownership nationwide. While the agency tracks sales to foreign owners since 1990, this information remains incomplete.
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Director General’s Insights: Juhani Himanka, the Director General, acknowledges the uncertainty surrounding land ownership in Finland. He states, "We don’t know how much we’re talking about," when asked about the extent of foreign ownership.
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Challenges in Identifying Owners: Many companies are registered abroad and do not disclose their ultimate owners. Himanka explains, "Even if we know who bought something from us, we can’t always tell where they come from."
Recent Foreign Acquisitions
Several large purchases by foreign firms have raised questions about land ownership:
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Google:
- Acquired 1 million square meters worth €100 million at Ämmässuo near Helsinki Airport since 2015.
- Purchased another 1 million square meters worth €150 million at Salo near Turku last year.
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Microsoft:
- Acquired a plot measuring around one square kilometer at Ämmässuo last year.
- Purchased another plot of similar size at Salo earlier this month.
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Amazon Web Services (AWS):
- Planning a new data center near Espoo city center after purchasing over four hectares last year.
- Acquired an additional five hectares nearby earlier this month.
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Meta Platforms Inc.:
- Acquired almost three hectares next door early last year.
- Google purchased another area nearby late last summer.
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Equinix Inc.:
- Made the largest single purchase so far, acquiring almost seven hectares worth €40 million from Helsingin Energia Oyj in late July.
Conclusion
The lack of comprehensive data on land ownership in Finland raises concerns as foreign firms continue to make significant acquisitions. The inability to track the nationality of property owners complicates the understanding of land ownership dynamics in the country. As multinational companies expand their operations, the need for clearer statistics and transparency becomes increasingly important.
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