Sunborn International Plc establishes a new subsidiary company
Sunborn International Plc ("the Company") has incorporated a new, wholly owned subsidiary, Sunborn Modular Solutions Oy ("Sunborn Modular"), extending Sunborn International's hospitality and real estate development capabilities into the market for large-scale workforce accommodation. Hans Niemi, CEO of Sunborn International Plc, will serve as Chairman and Managing Director of Sunborn Modular.
Sunborn Modular has been established to address demand for workforce accommodation linked to large-scale construction programmes, including data centre construction, in Finland and the wider Nordic region. This scale of construction activity, concentrated in areas with limited existing hotel and rental housing capacity, is expected to drive demand for purpose-built, professionally operated workforce accommodation.
The subsidiary plans to offer relocatable, hotel-grade workforce accommodation villages that can be redeployed from one construction project to the next, matching the multi-year but temporary nature of large build programmes. By offering hotel-standard accommodation with catering, housekeeping and other hospitality services, Sunborn Modular aims to help contractors attract and retain workers.
The establishment of the subsidiary is not expected to have a material financial impact on the Company at this stage, and Sunborn Modular does not yet have any operational activities, contracts or financing in place. The Company will evaluate project-specific financing and partnership structures as opportunities develop, and will provide further updates on Sunborn Modular's progress in due course.
"Sunborn Modular draws on our long experience in hospitality, real estate development, and the modular construction of hotels and moveable properties. It's a natural step for the Company as we explore this new business area," says Hans Niemi, CEO of Sunborn International Plc.
For further information:
Hans Niemi, CEO
Sunborn International Plc
hans.niemi@sunborn.com
+358 2 445 4513
Certified adviser: Nordic Certified Adviser AB, tel. +46 70 551 67 29
Distribution:
Nasdaq Helsinki
OTC Markets
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www.sbih.group
Sunborn International
Sunborn International is an innovative developer, owner and operator of high-quality yacht hotels and other floating real estate with global operations. Yacht hotels and floating real estate offer an opportunity to utilise unused water space in city harbours and prestigious waterfront locations.
Sunborn International currently owns two yacht hotels located in London and Gibraltar, which combine exclusive accommodation, restaurant services, conference and event venues. Sunborn International is an industry pioneer, with extensive experience in shipbuilding and vessel design as well as developing waterfront areas and harbours and tackling permitting processes in various countries. The company is actively expanding into new markets, with yacht hotel development projects in London, Vancouver and around the world.
Further information: www.sbih.group