Central government recapitalisation to be secured for the new Museum of Architecture and Design

Central government is prepared to provide capital funding totalling EUR 58 million this year and next year to the Foundation for the Finnish Museum of Architecture and Design. The return on capital will enable the work of a world-class museum in a new building in Helsinki. The Government proposal on the recapitalisation of the Foundation for the Museum is included in the third supplementary budget proposal for 2024 submitted to Parliament.

Central government is committed to recapitalising the Foundation for the Finnish Museum of Architecture and Design by altogether EUR 60 million, of which EUR 2 million was already included in the 2023 Budget. If Parliament approves the proposal, EUR 30 million of the remaining funds will be disbursed this year and EUR 28 million in 2025. 

“The new Museum of Architecture and Design is a significant foresight effort and responds to the worldwide interest that our architecture and design generates,” says Minister of Science and Culture Sari Multala. 

The new museum operates both nationally and internationally. The main idea behind the concept of the new museum is to bring people together and help address major questions related to the future by means of design and architecture. 

"The concept sums it up aptly: in the designer's eyes, everything can be done differently and better. An inspiring and attractive museum can prompt us to think and do things in novel ways, drawing on our strengths. The project is an important investment for the whole of Finland. It also opens up opportunities for economic growth,” says Minister Multala. 

Capital from central government, cities and private funding

The aim of the Foundation for the Finnish Museum of Architecture and Design is to raise a core capital of altogether EUR 150 million. Central government and the City of Helsinki will both provide the Foundation for the Museum with EUR 60 million in recapitalisation and the Foundation has pledged to procure the remaining EUR 30 million from private sources. Private funding providers account for an exceptionally large proportion of the project funding, and most of it has already been raised. Helsinki City Council has made a decision on the recapitalisation.

"The commitment of the Finnish Government to the project, despite the difficult economic situation, reflects its importance for Finland. Donations from central government, cities and private parties together make it possible to create a museum that is internationally unique and visionary,” Minister Multala says. 

For central government recapitalisation to go ahead, financial resources from the City of Helsinki and private providers will also need to actualise as planned. Questions related to taxation and government support will also have to be resolved for the project to proceed. Should the construction of a new museum fall through, the funds granted will be reimbursed to central government.

The Foundation's capital will not be used for the construction project, but its revenue can be used to support the museum to cover rental and real estate costs of the new museum. 

A separate real estate company has been established for the construction of the museum. The company is responsible for conceiving and setting up the construction project and for organising a design competition in collaboration with the Foundation, for example. The new museum is due to open in 2030. 

The museum will be operated by AD Museum Ltd, owned by the Foundation for the Finnish Museum of Architecture and Design, to which the earlier Design Museum and the Architecture Museum together with their collections have already merged.

Inquiries: Päivi Salonen, Senior Ministerial Adviser, tel. +358 295 330281