Kishrey Teufa Group will invest an additional €7 million in expanding its Arctic Panorama Resort & Spa in Rovaniemi, the capital of Finnish Lapland, the Israeli tourism company announced.
The expansion will add 48 accommodation units to the resort, including 24 panoramic cabins and 24 luxury suites, alongside a new spa center. The work is expected to be completed ahead of the 2026-2027 winter season.
The company has already invested about €7m. in the project, bringing the total investment to about €14m. after the new expansion, according to Kishrey Teufa.
Luxury resort aimed at northern lights tourism
Arctic Panorama Resort & Spa is located in the Arctic landscape of Finnish Lapland, surrounded by snowy forests and open natural scenery. The resort’s accommodation units were designed with panoramic views, allowing guests to watch the northern lights and the surrounding landscape of the Arctic Circle.
After the expansion is completed, the resort will include 88 accommodation units, a restaurant, a spa center, and additional hospitality facilities. The company said the rooms, restaurant, and spa were all planned to face north, in order to improve guests’ view of the northern lights during the winter season.
The resort began operating in December 2025. The Jerusalem Post previously reported that Kishrey Teufa had renewed direct flights to Rovaniemi and launched the Arctic Panorama Resort as part of its Lapland packages for Israeli travelers.
Company cites strong demand after first season
The resort was nominated for the REVE Luxury Awards in three categories, according to the company: Luxury New Resort of the Year, Luxury Resort of the Year, and Luxury Landscape Hotel of the Year.
“After a successful launch season and high demand, we decided to expand the flagship Arctic Panorama Resort & Spa project and increase the number of accommodation units and facilities on site,” said Nir Mazor, vice president of marketing at Kishrey Teufa.
“Alongside the projects we are advancing in Greece and Cyprus, we are continuing to build an international tourism real estate arm that will serve as a significant growth engine for the group in the coming years,” Mazor said. “We intend to continue deepening our investments in strategic tourism real estate assets that will continue to create value for the group and its customers.”
Broader push into tourism real estate
The Lapland expansion is part of a broader move by Kishrey Teufa into overseas tourism and real estate projects.
Over the past year, the company has expanded its international real estate activity, including the launch of Arctic Panorama Resort & Spa in Finland, the construction and marketing of the LUMINA MARE luxury project in Larnaca, the purchase of waterfront land near Larnaca for a hotel and residential project, and the promotion of the MIFRAS villa project on the Greek island of Paros.
The Larnaca project placed Kishrey Teufa in a market that has drawn increased attention from Israeli investors. The Jerusalem Post has reported on rising real estate prices in Cyprus, including in Larnaca, where several Israeli-linked projects have been promoted in recent years.
The company said construction of the MIFRAS project in Paros is expected to be completed in the coming month, after which the villas will be delivered to buyers.