Annual Report 2021

Our Annual Report was published in March 2022. On this page, you can find downloadable reports as well as the CEO’s greetings, the highlights of the year, key figures and highlights of our sustainability programme, which we implemented for the first time in 2021.

Key figures in 2021

Total revenue



2020: 383.9 €M, +2.0%

Funds from operations (FFO)



2020: 151.4 €M, +1.1%

Fair value of investment properties



2020: 6.9 €Bn, +21.3%

We have made steady progress in implementing our strategy and we were able to achieve profitable growth in 2021. Our investments in future growth continued as planned.

Jani Nieminen, CEO

Highlights of the year 2021

21 January

We were nominated as the best implementer of equality among Finnish listed companies.

15 March

We launched a Green Finance Framework.

19 May

We announced even more comprehensive broadband and entertainment services coming to all Lumo homes during 2022.

28 May

We issued a EUR 350 million green bond under our EMTN programme.

12 July

In summer we agreed on the construction of 593 apartments in the capital region within the framework of our current cooperation agreements.

2 September

Nearly 700 car-sharing vehicles available for Lumo residents around Finland.

15 October

We improved our result in the GRESB Sustainability Assessment.

23 November

Electric car charging service was included in the Lumo service portfolio.

We create better urban living

Kojamo is a frontrunner in rental housing that is building better and more sustainable urban living. Sustainability has always been at the core of our business, and we want to continuously develop the sustainability of our operations. 2021 was the first year of our sustainability programme.

A builder of sustainable cities

We want to create urban environments that are comfortable, safe and in line with the principles of sustainable development. We take sustainability into consideration in all our investments, from new construction to renovation and maintenance. The property electricity for our entire portfolio is produced from carbon-neutral energy.

Sustainability key figures in 2021

Carbon footprint

kg CO2e3


(2020: 5.5)

Waste recycling rate



(2020: 37)

Indirect employment effect



(2020: 7,066)

Sustainability guides all Kojamo’s investment decisions

We design new properties with an emphasis on long life cycles, versatility, adaptability and making the buildings easy to renovate and repair. In addition to location and accessibility, their construction is guided particularly by energy efficiency and increasing the carbon handprint. Last year, these principles took on a concrete form in our wooden apartment building construction in Espoo’s Nöykkiönlaakso district, for example.

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The Lumo One skyscraper combines sustainability and comfort

In designing the Lumo One skyscraper, we have emphasised sustainability, a strong sense of community and convenience in daily life. Together, these factors enable the best customer experience. When completed, Lumo One in Helsinki’s Kalasatama district will be the tallest rental apartment building in Finland.

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Supporting day-to-day work through supervisor training and sharpening the leadership culture

As part of our strategic priority of having the most competent personnel and being a dynamic place to work, we want to create a first-class employee experience for everyone at Kojamo. In 2021, we advanced our corporate culture by focusing on the development of leadership skills.

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Sustainability is everyone’s responsibility at Kojamo

We are a responsible corporate citizen, and sustainability is visible in our day-to-day operations in various ways. In 2021, we arranged Code of Conduct training for our employees and launched a project to establish our organisation’s operating models and culture concerning data protection.

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Download Annual Report files

Download all Annual Report files in PDF format (4 files, .zip archive)