Kojamo’s strategic objective is to be a pioneer in housing and the number one choice for our customers. We want to be a property investment company that is known for providing an excellent customer experience and developing shareholder value in the long term. Our business is based on our values – Happy to serve, Strive for success and Courage to change.
Kojamo’s strategic focus areas and their realisation in 2018:
Generating long-term shareholder value
Focusing on the Lumo brand
Kojamo’s strategy is to focus on commercial operations and to reduce the relative proportion of apartments subject to ARAVA and/or interest subsidy legislation in our portfolio. We believe that the current ARAVA and/or interest subsidy legislation restrictions in our apartment stock will expire by way of application by the end of 2025. As the restrictions expire, VVO apartments will become Lumo apartments, which we expect will increase the fair value of investment properties currently subject to restrictions.
In 2018, we implemented our strategy by accelerating service development and growing the Lumo business both with new development completed and by acquiring completed apartments. Due to the decrease in the VVO business, we abandoned the division between the Lumo and VVO segments from the beginning of 2019.
Operating in the Finnish growth centres, anchored in the Helsinki Metropolitan area
Kojamo focuses on developing rental living and housing services in selected Finnish growth centres: the Helsinki Metropolitan area, Tampere, Turku, Kuopio and Lahti areas, and the cities of Oulu and Jyväskylä. We expect the population growth in these growth centres to exceed the national average due to urbanisation. The most important area in our strategy is the Helsinki Metropolitan area. We will continue to divest our properties that are located outside the Finnish growth centres.
In 2018, our operations in the selected growth centres progressed successfully, supported by the property acquisitions and divestments we had executed during the year in line with our strategy.
Growing the property portfolio by acquiring and developing properties
In our view, we have significant opportunities to increase our property portfolio. Real estate development will also play an important role as we strive towards improving long-term shareholder value especially by increasing our property portfolio in the Helsinki Metropolitan area.
In 2018, we advanced towards our strategic targets by increasing the number of apartments in our property portfolio and the fair value of our investment properties. Listing on the official list of Nasdaq Helsinki supports the implementation of our growth strategy and strategic flexibility.
The best customer experience
In line with our vision, we will continue to focus on providing the best customer experience by offering a range of different housing solutions and services.
We want to be a frontrunner in the digital transformation of the housing industry in Finland. We believe that digital solutions offer unique opportunities to improve customer experience.
We have launched a service and innovation platform for co-creation with our partners and customers. The platform enables opening interfaces to different operators’ data and piloting and developing versatile housing services.
In 2018, we expanded our existing digital service offering by introducing the My Lumo application, which enables residents to order services and pay their rent using a mobile device. In addition, depending on where they live, Lumo tenants have access to many services that make everyday life easier, such as services related to moving, shared cars and Smartpost parcel service.
Leading in sustainable development and corporate responsibility
Kojamo is committed to developing new and modern construction solutions, housing services and ecological innovations related to energy-efficient housing solutions.
We focus on the sustainable development of our business operations and strive to be the frontrunner of sustainable development in our industry. All new development projects that utilise our own plot reserve are nearly zero-energy buildings in accordance with FInZEB concepts and guidelines.
In 2018, we expanded the use of the Leanheat AI solution that we piloted earlier to control the temperature of approximately 29,000 apartments. The solution both improves the comfort of living and reduces the carbon footprint of buildings.
The most competent and energetic place to work
We are developing our corporate culture and the skills and competences of our personnel to support the implementation of our strategy. In addition, we strive to commit our entire personnel to our objectives with the help of our remuneration and incentive plan.
In 2018, we reformed our culture and ways of working by focusing on the development of competences and management and achieved recognition and results for the successful personnel work by way of, for example, performing well in the personnel satisfaction index.
Page updated 19 June 2019