Rake Group, based in Helsinki, Finland, is a family-owned company that traces its roots to 1867, when Israel Nyman opened a hardware and ship chandler’s shop in the city. The company—now known as Rake Oy—remained under independent ownership, diversifying and adapting its business model over more than 150 years.
Throughout the 20th century, Rake expanded into building materials, real estate, and hospitality. It played a role in Helsinki’s urban development, opening a notable department store and establishing branches both within and outside the city. In the 1930s, the company acquired and combined properties in central Helsinki, developing an early model of mixed-use urban real estate with retail, office, and guest house operations. During that era, Rake Oy also ventured into construction manufacturing, opening a brick factory and later engaging in residential projects as a building material supplier and co-developer.
A significant shift occurred in the 1980s when its domestic hardware retail operations were divested, and the company focused on real estate and international ventures. By the 1990s, Rake Group had subsidiaries active in Finland, the United States, and Southeast Asia. Today, the group’s primary focus is on owning and renting real estate in central Helsinki, as well as asset management and investments with a global scope. An example of its real estate portfolio is the iconic Bulevardi 2–4 property, home to unique office and retail spaces. The company remains a stable, multigenerational business with a strategic long-term approach, currently under the direction of Managing Director Kenneth Cederberg.