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Oulu-Investment-Guide_2026

Page 1


Oulu for Investors

1.1. Oulu in Brief

1.2. Economic Structure

1.3. Gateway to Arctic Europe

1.4. Urban Development Projects

Key Industries

2.1. Key Industries and Ecosystem

2.2. Opportunities for Sustainable Industry in Oulu

Retail and and Office Property Market

3.1. Market Description

3.2. Retail Development

3.3. Office Development

3.4. Development Projects

Hotel Market and Tourism

4.1. Market Description

4.2. Demand and Supply

4.3. Tourism Development

4.4. Tourist Attractions

Welcome to Oulu, Finland European Capital of Culture 2026

Explore the Commercial Opportunities in the Oulu Area

Oulu is the most important commercial, logistic and cultural hub of Arctic Europe. It is a region of over 270,000 inhabitants that is best known for its technologicalexpertise, that makes it a globally significant center in the Europe. Two universities, young population and year-round events makes Oulu vibrant. As a university city Oulu attracts tens of big international conferences yearly.

Oulu Region has been on the fastest growing city region in Nordic. Considering Oulu's availability of skilled workforce, status as a high-tech hotspot, excellent connectivityand increasing population, the city provides an excellent platform for new investments.

The growth is accelerated by the spectacular increase in business in the region. Tens of new companies are establishing themselves in Oulu early and investing in the region. Also the city of Oulu is investing 630M€ for the city infrastructure in the coming

3 years. The region is also a great hub for investments in Northernmost Europe totalling 187B€ in coming years.

Oulu aims for carbon neutrality by 2035, focusing on renewable energy, sustainable mobility, and circular economy initiatives. Oulu is developing and zoning significant green transition industrial areas for e.g. hydrogen and e-fuels production and other clean industry investments. Already announced investments totaling >1B€

Oulu is the biggest year round travel city in North Finland. Here the business and leisure travellers meet green environment, modern city and norhern hospitality.

With this guide, we wish to provide you with an overview of the possibilities Oulu has to offer for commercial real estate investors.

STOCKHOLM 2:45 H

RIGA 1:30 H NEW YORK 12:50 H TOKIO 14:00 H HELSINKI 0:55 H

LONDON 3:55 H

270,000 2026

1 h Inhabitants in the Oulu Area

One Hour Flight to Helsinki

The European Capital of Culture

1 Oulu for Investors

39

Average Age of the Population

25,000 University Students

1.1

Oulu in Brief

Oulu is an easily accessible city in Northern Finland by the Bothnian Bay. There are over 210,000 inhabitants in the city and 270,000 in the Oulu region. Oulu has one of the youngest populations in Europe: the largest age group is 20- to 24-year-olds and the average age of inhabitants is 39 years. In addition, 25,000 of the population

Why Invest in Oulu

1

5 Stability: Finland provides an economically and politically stable environment for business. The property market provides stability for longterm commitment, income generation and high returns and yield levels. 1.1.

are university students. This vibrant city with a variety of events and activities all year round is an excellent destination for both business and leisure travel as well as conferences. Oulu is also an excellent base from which to explore the surrounding tourism centres and Lapland.

Location: Being the biggest commercial, logistic and cultural hub in Arctic Europe,Oulu is a gateway to the North. As part of the TEN-T core transport network, the Port of Oulu, with its rail and road links, as well as one of Finland's busiest airports provides good connections to the rest of the world.

2 Tourism destination: Oulu Region is one of the biggest year round travel destination in Northernmost Europe. Financial indicators of the growing industry underlines its excellence from a tourism investment perspective. Oulu, as the European Capital of Culture in 2026, will rise to shine as a new tourism star.

3 Sustainable Industry Hotspot: An abundance of affordable green energy, Universities with its extensive research and education, alongside the large R&D investments in the area, ensures a wide talent pool for new sustainable projects.

4 Skilled Workforce: Thanks to the universities in Oulu, the region has a highly educated workforce with a young age structure. Skilled labor is available to meet the needs of all industries.

There are 5 times more jobs in ICT industries in Oulu region compared to the same industry in the whole country.

3rd Most Venture Capital in Europe

Per Capita

No 1

R&D Investments

Per Capita in Finland More Than 10 years in a Row

1.2. Economic Structure

Oulu is 15th in attracting venture capital per capita among the top 50 cities in the world. Together the global tech giants and the hundreds of SMEs operating in the city they form a strong Tech-cluster with high degree of expertise and entrepreneurial spirit.

Information technology services, other technology sectors, social and health services as well as education are regarded as specialities of the region. Oulu is specialised in wireless technologies R&D and

electronics manufacturing, and the services supporting it for example engineering, software and information services.

In addition, consumer potential is growing as the population of the region will continue to grow.

Source: Statistics Finland, 2024

1.3. The Gateway to Arctic Europe

Located by the sea, Oulu is a junction for sea, railroad and road traffic. Together with one of the Finland's busiest airport and largest general port in the Bothnian Bay, makes Oulu the most important transport hub for both passengers and freight in Arctic Europe.

There are development ongoing to make the railway connection from Oulu to Helsinki faster by developing the rail network. Accessibility to and from the Port has been improved by new triangular rail road connection and there are plans to revive also the multimodal terminal. The fastest

train connection from Helsinki to Oulu currently takes just over five hours and will be even faster in future.Oulu is the gateway to Arctic Europe regions, which will see close to 200 billion euros invested over the coming years. The largest investments will be made in industry, energy, mining, infrastructure, tourism and other industries. By 2030, the number will be 160 billion . The largest investments will be made in construction, energy, mining, logistics, tourism and creative industries.

1.4.

Credits: Raksila 2.0.

Urban Development Projects

Oulu city centre is set to be transformed through major redevelopment over the next few years. Significant development projects, such as hotels, restaurants and museums have already been finished in preparation for our year as the European Capital of Culture in 2026. But urban development projects worth hundreds of millions of euros are still on their way, and they offer viable and sustainable investment opportunities.

Urban Oulu

Oulu Arena District

Oulu Arena District is the most important development project in the history of the city, with estimated investments of 1 billion euro by the year 2040. In the heart of the project is a new arena for events, sports and entertainment, with max. capacity of 11,650 people. The city will be an investor in the arena, thus speeding up its development. The arena’s location by the main railway station, about 500 metres from the City Hall, will solidify the urban structure of Oulu.

Right next to the arena, the station center area will feature shops, offices, hotels, housing and venues. The station area will interconnect Oulu urban area to the world with all means of transport. These are huge opportunities for investors looking for

modern and long-term multidisciplinary assets in the city center.

Other urban development opportunities

The main goal for our European Capital of Culture year is Cultural Climate Change. It means a permanently richer cultural life in Oulu, fueling creativity and new development. The year will lead to Oulu thriving in the future not only as a city of technology but as a city of vibrant urban life. This will lead to increasing number of investment opportunities in hotels, restaurants, and venues. We see it already and welcome all developers and investors to join the ride.

Museum and Science Centre

The new science center Tiima, which will be completed in 2026, offers immersive experiences and activities. Tiima is the largest cultural investment in Oulu's history, totaling over 36 million euros.

Coastal Oulu

Coastal Oulu connects our beautiful sea and three rivers to the Urban Oulu, making Oulu a pleasant city with plenty of green and blue.

Nallikari is our legendary seaside destination, featuring a fine‑sanded beach about one kilometer long. But

The extensive network of pedestrian and cycle paths span over 1000 kilometres.

Nallikari is now being built into a yearround tourist center, as in the winter the snowy shore becomes a venue for activities like ice fishing, skiing, and even Northern Lights viewing. Nallikari can offer more than 100M€ investment opportunities.

Oulu River Delta comprises of islands like Kuusisaari, the venue for large outdoor events and mega festivals for as many as 40,000 attendees every summer. Another island next to the city centre is the idyllic wooden district Pikisaari which is being developed as a hub for services and experiences in culture and arts. Pikisaari is available for investors and developers.

Another developing spot on the seaside is Virpiniemi centre about 20 minutes north. The area has a magnificent golf course by the sea and a winter activity and crosscountry skiing centre.

Arrow-Right Spearhead Projects

OULU ARENA DISTRICT

The future heart of the city with events, sports, offices, accommodation, commerce and housing. Estimated size of investments is € 1 billion by the year 2040. 1

ORITKARI

New industrial areas in the Port of Oulu from 40ha up to 200ha. Oritkari has the potential for major industrial and logistics investments. 2

Credits: Raksila 2.0.
Credits: Ramboll

RITAPORTTI 1 &2

New retail areas with total of over 30 hectares. Area 1 has a city plan and Area 2 is under planning. Area is located in the heart of north suburban area, near the university and Nokia Campus.

NALLIKARI

Nallikari resort has superb possibilities for developing and diversifying tourism, training and education, sports, leisure and recreational facilities. 100M€ investment opportunities.

Virpiniemi Outdoor Sport Area

Autoheikki Office Premises

Kansankatu 47

Hybrid Property

Ravander Block

Hybrid Property

Pyyryväinen Green Industry Area

Ruskonselkä Industry Area

Oulunportti Retail Area

Airport City Oulu Office and Light Industry

Hotel Franzen

Credits:Kesko
Credits: Linja Architects

2 Key Industries

2.1. Key Industries and Ecosystems

Oulu truly stands out as a hub of innovation and sustainability! Here are key industries and some key highlights.

Digitalisation and ICT

Pioneering Wireless Technologies

With over 50 years of experience, Oulu has been at the forefront of developing wireless technologies. The region’s innovations are used by over 3 billion people globally.

AI / ML Integration

Oulu-based software companies focusing on data, machine learning and artificial intelligence create business value and competitive advantage for their customers by developing intelligent digital and data solutions on a variety of verticals and applications.

Defence & Security

The Oulu DefTech Cluster North unites companies, research institutions, and public actors developing defence and dual-use technologies across connectivity, sensing, edge computing, and cybersecurity. Our mission is to strengthen Finland’s and Europe’s resilience through nextgeneration innovations.

Thriving ICT Ecosystem

Home to around 1,000 ICT companies and 25,000 professionals, Oulu boasts a broad portfolio of high-tech research and development.

Arrow-Right ICTOulu

Health technology

Second Largest Hub in Finland

Oulu is a major centre for health technology. Our special competitive edge lies in the seamless confluence of health technology, biosciences, medicine, and engineering.

Innovative Health Solutions

OuluHealth ecosystem operates in the international frontline of digital health care by promoting health and well-being services by means of information engineering.

Arrow-Right OuluHealth Ecosystem

Green

Transition

Ideal for Cleantech

Oulu offers a supportive environment for cleantech companies focused on solving environmental challenges and promoting sustainable development.

Forerunners in sustainability

Our sustainable growth is based on smart solutions in bioeconomy, circular economy, and hydrogen economy

Diverse Excellence Areas

Key areas include energy and climate solutions, sustainable mobility, circular economy, and sustainable materials.

Arrow-Right Cleantech Oulu

2.2. Opportunities for Sustainable Industry in Oulu

Oulu – The Largest eFuel Hub in

the Baltic Sea Region

Finland offers some of the lowest electricity prices in Europe, and the Oulu region is the leading producer of renewable electricity in the northern Baltic Sea area. Oulu is rich in clean water resources, and the waste heat enerated during hydrogen production can be utilized through a 1,000 km district heating network. Additionally, Northern Finland has access to 7 million tons of biogenic CO 2 from three major point sources.

The eFuel projects by Oulun Energia, P2X Solutions, Verso Energy, Hy2Gen, ABO Energy and Energiequelle position Oulu as the largest hub for synthetic fuel production in the Baltic Sea Region, based on the number of hydrogen-related project currently under development. These six projects represent a combined capacity of 2.2 GW.

Gasgrid Finland is planning a hydrogen transport infrastructure to connect Oulu’s production capacity with other regions in Finland and across Europe. The Nordic Hydrogen Route, valued at €3–4 billion, will enable large-scale hydrogen distribution. When including additional eFuel projects under development in the wider Oulu region and Sea Lapland, the total capacity reaches 5 GW, with an estimated

€19 billion in direct investments for industrial plants and hydrogen pipelines. These investments are expected to create thousands of jobs during construction and appr. 2,000 permanent positions.

The University of Oulu , renowned for its hydrogen research, combined with the city’s status as the third-largest recipient of R&D investment per capita in the EU, ensures access to a highly skilled talent pool. Furthermore, as part of the TEN-T transport network , the Port of Oulu offers excellent rail and road connectivity to the rest of Europe and beyond.

Prerequisities for Green Industry

are in Place in Oulu

Arrow-Right Available and developing industrial areas for green industry

Arrow-Right Abundant availability of green electricity and growth potential for wind and solar power

Arrow-Right Reliable electricity grid and a future hydrogen pipeline

Arrow-Right Oulu powers EU with renewable electricity

Projects

Arrow-Right 2Mt of biogebic CO 2 for further H2 refining

Arrow-Right Extensive district heating network for waste heat

Arrow-Right World-class energy and hydrogen research

Arrow-Right Strong industrial heritage and innovative business partners

The Oulu Green Industry Master Plan 2030

Four green transition industrial areas with diverse profiles seamlessly interconnect through infrastructure, creating a cohesive H2 ecosystem

1

1 PORT AREA

150 hectares of Industry sites for H2 & e-fuel production.

3 2

2

PYYRYVÄINEN

New 10 km 2 area for Green Transition Industry; hydrogen, batteries, chemicals.

3

LAANILA

Chemical industry ecosystem with Oulun Energia energy production and planned 100MW project for H2 & e-Fuel production.

4 HANGASKANGAS

New green transition industrial area next to 400kV substation and upcoming hydrogen pipeline.

Zoning
Zoning
Zoning

5 million Visitors in Valkea Shopping Centre Yearly.

3.1. Market Description

As the capital of Northern Scandinavia and a university city, Oulu is attractive to industries that require skilled young labor, good logistical connections, and business opportunities. The number of jobs has increased annually.

Green transition projects, the rising geopolitical importance of northern regions, and nearly 200 billion euros

Job Development in Oulu

in investments create conditions for Oulu's growth far into the future.

Oulu has long offered stable and higher returns on real estate investments compared to the capital region. Market changes have been weaker in the Oulu economic area. Thus, Oulu offers an interesting operating area for investors and developers.

Population Development in Oulu

1,9% Vacancy Rate for Retail Premises

3.2. Retail Development

Oulu is the commercial center of Northern Finland, with a catchment area of 650,000 inhabitants. The city also attracts visitors from across the border, from both Sweden and Norway. This charming northern city offers shopping opportunities for many international leisure and business travelers as well.

Shopping centers have performed better than specialty retail, and their occupancy rates are high. Oulu has four shopping centers. With more than 50 stores, the Valkea shopping center is the number one shopping destination in Oulu’s city center.

In addition to the city center, significant commercial clusters

have developed in the southern and northern parts of the motorway. The southern Kaakkuri–Oulunsalo area is a diverse district for daily goods, specialty goods, and large-space retail. The northern Ritaharju commercial area is expanding across the motorway, where Ritaportti II is starting after the completion of Ritaportti I.

The number of vacant retail premises has been steadily decreasing, and the vacancy rate is only 2 %. The prime rent level of 50 EUR/m² and the yield level of 8% have remained unchanged. Overall, the commercial property market in Oulu is stable and offers good business opportunities for operators and investors alike.

The Finnish Real Estate Market Spring 2026

Vibrant city centerwith the lowest vacancy rates among business premises

3.3. Office Development

Oulu’s office space market has long been exceptional due to its very low vacancy rate and stable yield levels. At the end of 2025, only 7.6% of the office stock was vacant, most of which consisted of outdated office premises. There are no modern office spaces available in the city centre.

Oulu’s office stock increased at the end of 2025 with the completion of Nokia’s “Home of Radio” campus, which provides 50,000 m² of product development and production facilities for 2,600 employees. With the new campus, the former 65,000 m² of office and production facilities will become available on the market at

the beginning of 2026, temporarily increasing Oulu’s office vacancy rate. The premises located in the industrial area are being directed toward new uses.

Significant office clusters include the Technology Campus near the University of Oulu and the Kontinkangas health and wellbeing center, which has developed around the university hospital. A major employment area is being zoned along the railway near the city centre, enabling the construction of office spaces in addition to the Oulu Experience Arena, accommodation, and commercial premises.

Office Vacancy Rate by Cities

Source: Catella, 2026

3.4. Development Projects

Right in the heart of the city, is the most important urban development project in Oulu in years.

Oulu’s time to shine. This is what we call the period from 2024 to 2030, when Oulu will develop in many sectors at once. In 2025, Finland's Housing Fair was in Oulu, and in 2026 Oulu is the European Capital of Culture. We are building a new Museum and Science Centre, and we have just finished a huge renovation of our main library. To build on those, we have launched the Oulu Arena District Project, the most significant urban development project in the history of the city, with total investments of almost 1 billion euros .

Oulu Arena District

The Arena, right in the heart of the city, is the most important urban development project in Oulu in years. The location next to the future Station Centre is excellent, as traffic connections from all directions will bring travellers directly to events and other services. The total cost of the arena project is around 130 M€ In addition to the arena, restaurants, a meeting, event & conference hotel and retail premises are also being developed right next to the arena. The city has chosen a partner for the development of the Arena District, but there are plenty of opportunities for investment and development in the area. For more info, contact Project Director Karri Oikarinen, karri.oikarinen@ouka.fi.

Oulu Station Centre

The Oulu Station area is a part of the Oulu Arena District and they are both developed as a whole, creating a centre for traffic, events, services and housing that will naturally connect the traditional grid city centre and the developing Raksila area. The whole area is extensive and centrally located. This is an interesting and very large-scale renewal project by Finnish standards. This could be compared, for example, to the development and construction of Central Pasila in Helsinki. We are looking for investment in offices, hotels, housing and retail. The estimated size of investment is 450–500 M€

Kontinkangas Campus

Adjacent of Oulu University Hospital renewal project (1.6 B€) is ongoing development for future health care innovation and R&D centre, OYSTER. The area offers opportunities for eHealth and MedTech companies for setting up operations as well as real estate investors and developers for construction. There is availability of brownfield and greenfield sites.

Ritaportti Retail Areas 1–2

New shopping centre and retail park area, total 30 ha, is developing along the motorway, north of Oulu city

centre. The adjacent 80-hectare area is under zoning for space-intensive retail, buildings serving sports and recreational activities, office spaces, and nondisruptive industrial facilities. Retail areas locate in the heart of suburban area near Oulu University and new Nokia Campus.

Oulunportti Retail Area

Oulunportti is a major specialty trade area at the intersection of the motorway and the road to the airport. There are numerous existing specialty stores already in the area, such as car dealers and hardware stores. There are still business plots available in the area for new projects.

Ravander Block

One of the most significant development projects in the near future. A hybrid block under planning. For commercial space, office space, and accommodation business in addition to housing. Very central location in the heart of Oulu.

Kansankatu 47 Property

A unique functionalist property in the city center is looking for a developer and investor. Additional construction may enable a project totaling 11,500 m 2 . The property can have various uses. The new city plan permitting additional building right is planned to be completed in 2026/2027.

Autoheikki Office Property and Parking Facility

The project located in the city center offers an investment opportunity that has interested users. The new building will provide 12,500 m 2 of office space and 7,500 m 2 of parking spaces. The zoning of the site is in progress.

Station Centre
Autoheikki Office Property and Parking Facility
Kansankatu 47 Property Credits: Pave Architects

4 Hotel Market and Tourism

847,000

Total Overnight Accommodation 2025

67% OCC% Yearly Average 2025

4.1. Market Description

The hotel occupancy rate in Oulu is officially the highest in the country and new capacity is required to meet the growing needs of the visitors. The average annual occupancy rate of all Oulu accommodation establishments has been over 60% since 2015. The occupancy rates have been higher than in Helsinki, Tampere, Turku, Kuopio, Jyväskylä or Rovaniemi last years.

Travel to Oulu is evenly distributed throughout the year, and approximately 20% of travellers are international and 80% domestic.

Approximately 60% of the overnights in Oulu come from leisure travellers and 40% from business travellers. Peak season for leisure travellers is July–August, while the business traveller season is year-round. In wintertime, Oulu has big potential for leisure tourism and this aspect is currently being developed.

The total growth in foreign overnight stays was +6% in 2025.

KPI Performance in City Hotels in Oulu

Source: Statistics Finland, 2026

In recent years, the average RevPAR (Revenue Per Available Room) has been higher than in Turku, Jyväskylä and Helsinki. The RevPar of the hotels in Oulu in 2025 was €87.

Source: Oulu Marketing, 2025

RevPar Comparison

Occupancy Rate Comparison

Source: Statistics Finland,

(All

In recent years, the occupancy rate of hotels in Oulu has been higher than in Helsinki, Jyväskylä, Tampere and Turku. The occupancy rate in hotels was nearly 70% in 2025.

Terwa Tower – Seaside Hotel
Credits: Terwa Kiinteistökehitys Oy

4.2. Demand and Supply

Oulu is a great place for tourism business. Seasonal fluctuations are moderate and demand is high throughout the year. Hotel occupancy rates and prices have been at the level of the best cities in Finland for the past five years.

The city's business growth and international activities provide a solid foundation for continued growth in business travel. Leisure tourists' growing interest in tourist destinations in the North brings growth to Oulu, for example from Asia and Central Europe. Tourism in Oulu is

also strongly based on the demand of domestic tourists. Oulu is also a city of thousands of different events.

Oulu and its neighbouring destination marketing organisations market the Oulu region through Visit Oulu cooperation. Oulu region with its surrounding tourism resorts has in total over 1 million overnights yearly.

Hotel Nights and All Nights in Oulu

Source: Statistics Finland, 2026

Oulu is the Busiest Event City in the North

Guest Nights by Travel Purpose

Foreign Overnights by Country Germany

United

United

Switzerland

Source: Statistics Finland, 2025

Source: Statistics Finland, 2026

4.3. Tourism Development

The main hotel development areas in Oulu are in the city centre and the Market Square area, the station area and the Nallikari Tourist Centre about 3 km from the city centre.

A new hotel is also envisioned in connection with the Arena for Events and Experiences. The approximately meeting, event and congress hotel will serve Northern Finland's business life, events and tourism. Opportunity for operators, investors and developers to get involved in the most significant investment to be made in Arctic Europe to leisure, tourism and entertainment fields.

Terwa Tower – New Sokos Solo

Oulu's new landmark will be completed in 2028, when a new 20-story tower hotel will be completed in the center of Oulu, on the river estuary. It is located at a superior building site in the vicinity of Oulu Theatre and the City Library next to the seaside. Hotel will be operated by Sokos Solo concept and is designed to host a 240 room hotel, offices, a restaurant and conference rooms, co-working facilities, plus a spa section with a seawater pool. A meeting place is planned for the top floor with stunning views across the city and the sea. Parking is planned under the building and the market square.

Market Square – New Scandic Go

Scandic brings new concept to Oulu to the Market Square Hotel. A new event space, Tarkastamo, will be built as a part of the building, offering a wonderful setting for events and conferences with over 500 participants. The location is next to the Oulu’s old landmark 110-year-old Market Hall. The hotel has four floors and approximately 140 hotel rooms and will open in the summer of 2026.

New City Hotel

A new hotel with approximately 80 rooms is being built in a central location on Mäkelininkatu near Oulu railway station and the city center. An old residential building will be renovated into a stylish hotel. The construction project is underway and will be completed in late 2026.

New Hotel Franzén

The hotel under planning will be located in the historic heart of Oulu, on the edge of Franzén Park. The block brings together the Kirkkotori School (1865), the former Bank of Finland building (1973), and a modern new-build extension. The hotel’s capacity will be 170 rooms. Including the restaurant, conference and other facilities, the investment will be almost 40 M€.

Credits: JKMM arkkitehdit

100 M€

NALLIKARI SEA SIDE RESORT INVESTMENT OPPORTUNITY

Nallikari Seaside Resort

Nallikari resort has superb possibilities for developing and diversifying tourism, training and education, sports, leisure and recreational facilities. The resort’s attractiveness and competitiveness in tourism will also be improved by supplementing available services with new functions, and by ensuring effortless accessibility with different modes of transport.

Nallikari has a beautiful seaside location, 3 kilometres from the city centre, with a beach, a wide range of outdoor, restaurant and recreational services, and a variety of events around the year, e.g. Nallikari Winter Village. The Nallikari area is 95 hectares with a total building area of 75,000 m 2 . Investment opportunity

is approx. 100 M€ including hotel, themed amusement park, holiday villas, theatre, restaurants and other services.

Area is under construction. The first in 2023 completed children's amusement park, new holiday apartments and renewed beach boulevard with new shops and services. There are still approximately 50,000 m 2 of new building rights available in the area.

Spa Hotel Eden in Nallikari

Holiday Club Finland will open a completely renovated spa hotel in Nallikari in 2027. The hotel will have 170 rooms and additional expansion possibilities. The Nallikari area will be strengthened international yearround tourist center of North Finland.

Pikisaari Old Town

An idyllic wooden district, old industrial milieu and unique artists’ community awaits travellers who cross the pedestrian bridge from the Market Square to Pikisaari Island. Pikisaari (in English: Pitch Island) got its name from an old pitch works founded in the 17 th century. Besides that, the island has housed shipyards, a sawmill, a distillery, a wool mill, and a machine workshop.

Nowadays the island is the home and studio for many artists and artisans. Unique accommodation businesses have also found home at the heart of the island, and there are charming restaurants, too. Pikisaari is developing as a centre for companies in the creative fields, art and culture. The plans include new unique boutique hotels and restaurant services.

Credits: Linja Architects
NALLISPORT

1 st

Finland is the Happiest Country in the World Eight Consecutive Years

Source: The World Happiness Report 2025

3,000

Total Number of Events Yearly

4.4. Tourist Attractions

A City of Year-Round Experiences

Oulu region is a diverse nature destination. Within easy reach from the city of Oulu, you can find ski resorts, national parks and more. Oulu offers a variety of possibilities for day trips and connections to different tourist centres and Lapland.

Finland's Leading Destination for Educational and Technical Visits

In Oulu you can explore world famous Finnish education system from elementary school to university level. There is a wide variety of educational visit programs both for education professionals and school excursion groups, for example on themes such as computer programming, sustainable development and learning English.

Surrounding Tourist Centres and Lapland

Arrow-Right Syöte Ski resort and national park , Finland’s southernmost fell area, 1,5 h

Arrow-Right Rokua national park and UNESCO Global Geopark , a rare natural environment shaped by the Ice Age, 1 h

Arrow-Right Liminka Bay, an internationally renowned, valuable bird habitat for migrating birds, 30 min

Arrow-Right Liminka, Ruutikangas , Europe's largest shooting range and event park.

Arrow-Right Hailuoto, the largest island in the Bothnian Bay, 1 h

Arrow-Right Ruka Ski resort and national parks, Kuusamo, 2,5 h

Arrow-Right Snow Castle and Sampo Ice Breaker, Kemi, 1,5 h

Arrow-Right Santa Claus village and Arctic Circle, Rovaniemi, 2,5 h

Arrow-Right Read more at visitoulu.fi

Rovaniemi
Kuusamo
Tampere
Jyväskylä
Seinäjoki
Haparanda
ARCTIC CIRCLE
NORWAY
SWEDEN
ESTONIA
Oulu
Oulu
Syöte
Kemi Kempele
Raahe
Kemi
Lumijoki Rokua Geopark Tyrnävä
Hailuoto
Pohjola route Pohjola route

The European Capital of Culture 2026 is a Lively Event and Tourism City

Oulu hosts around 40 international conferences in a normal year. Oulu’s strength in conference tourism lies in a strong science community and expertise. Oulu offers versatile facilities for meetings, conferences and exhibitions.

There are many different developments that will make Oulu even more attractive for both domestic and foreign tourists alikeas well as event visitors. Oulu new exhibition centre opened in 2021 and a huge arena for up to 10,000 guests

Biggest Yearly Events

Source: Oulu Marketing

Biggest Yearly Fairs

Source: Oulu Marketing

is planned next to Oulu station. Two hotels and sea spa and saunas is under planning to the heart of city center. New investments approx. €100 million are coming to the seaside resort in Nallikari for example amusement park and leisure services.

The cultural scene of Oulu is strong and diverse. Over 3,000 different events in sports, culture or business are organised in Oulu every year and Oulu is known around the world for its original events such as the Air Guitar World Championships and Polar Bear Pitching. Oulu has been chose as the European Capital of Culture in 2026.

Nallikari Seaside Resort

Hupisaaret City Park

Science Centre Tietomaa

Turkansaari Open Air Museum

Toripolliisi Statue

Market Hall

Oulu Cathedral

Pikisaari Old Town

Botanical Garden of the University of Oulu

Northern Ostrobothnia Museum

Oulu Museum of Art

Oulu Automobile Museum

Nallikari Winter Village and Snowfest

Vauhtipuisto Amusement Park

Northern Photographic Centre & Gallery

Oulu City Hall

Kierikki Stone Age Centre

Luoma, Oulu2026
To See & To Do in Oulu
Harri Tarvainen, Oulu2026
Harri Tarvainen
Harri Tarvainen
Harri Tarvainen

Contact Information

We are happy to help you discover the Oulu area commercial opportunities and provide you with the right contacts and market information.

Jyrki Kemppainen Key Accounts, Service, Tourism and Logistics

+358 44 499 3296 jyrki.kemppainen@businessoulu.com

Janne Ylitalo Service Manager, Investments +358 400 999 523 janne.ylitalo@businessoulu.com

Seija Haapalainen Senior Consultant, Relocation Services +358 50 361 4791 seija.haapalainen@businessoulu.com

Karri Oikarinen Director,

Urban Development Initiatives +358 40 5687 291 karri.oikarinen@ouka.fi

P.O. Box 22, FI-90015 City of Oulu, FINLAND Uusikatu 52, 90100 Oulu, FINLAND info@businessoulu.com oulu.com investinoulu.com businessoulu.com

BusinessOulu is in charge of implementing the City of Oulu's industry policies, and providing growth companies with the services they require, in addition to promoting export, import, investments, and employment. With the help of its international partner network, BusinessOulu acts as a partner to companies and helps them grow. BusinessOulu persistently develops tourism business, conferences, congresses and events. Oulu’s innovation

environment, ecosystems, and think tanks create innovations in a bold and productive manner. The aim is to rapidly develop business opportunities and significantly increase startup investments.

BusinessOulu offers a large range of services to investors and companies considering expanding their business operations to Oulu. If you are interested to set up and locate your business in Oulu, we will provide you with customized services

for free. You will get information on business opportunities, public financing, working force, potential partners etc. We will help you in every stage of setting up a business. BusinessOulu services cover every stage of setting up a business in Oulu, ranging from initial data collection and opportunity analysis to networking and the actual business launch. Our services are based on full confidentiality and they are totally free of charge.

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