Kojamo plc Press release 21 April 2020 at 4:00 p.m.
Kojamo and SRV concluded a transaction and agreed to start construction on 291 apartments in Helsinki’s Kalasatama district
Kojamo plc and SRV have concluded a transaction and agreed to start construction on 291 apartments in Helsinki’s Kalasatama district. The 31-storey tower building to be constructed next to the Redi shopping centre in Helsinki’s Kalasatama district will consist of 291 Lumo rental. The construction indirectly employs approximately 550 person years.
The apartments, high-quality materials and services of this tower building offer an exceptionally high level of housing. The well-appointed shared club room with a large terrace is a great place for the building’s residents to cook a meal for friends or enjoy a sauna high above the city centre. The building’s location next to the Redi shopping centre also ensures excellent local services and transport links.
The property is part of the cooperation agreement signed by Kojamo and SRV on 2 March 2020, by which Kojamo invested approximately EUR 197 million in Finland and in increasing the housing supply. In its entirety, the cooperation agreement encompasses the construction of a total of 676 Lumo rental apartments. On 31 March 2020, Kojamo announced that Kojamo and SRV have concluded a transaction and agreed to start the construction of 256 apartments in the Munkkivuori (Lapinmäentie 1) and Pitäjänmäki (Strömbergintie 4) districts in Helsinki and the Perkkaa (Runoratsunkatu 11) district in Espoo. The cooperation agreement also includes two properties in Helsinki’s Pasila district. The completion of individual projects under the agreements is subject to the customary terms and conditions.
“All of the properties under the agreement are in excellent locations with good accessibility and they support Kojamo’s strategic goal of profitable growth,” Chief Investment Officer Ville Raitio says.
Kojamo’s strategy is to invest heavily in increasing the housing supply in Finland’s growth centres, where the demand for rental apartments is on the rise due to urbanisation and the increased popularity of rental housing.
Kojamo plc, Ville Raitio, Chief Investment Officer, tel. +020 508 3012
Kojamo is Finland’s largest private residential real estate company and a frontrunner in the housing business. Our mission is to create better urban housing. The Lumo brand provides environmental-friendly housing and services in Finland’s biggest growth centres. We actively develop the value of our investment properties by developing new properties and our existing property portfolio. We want to be the property market frontrunner and the number one choice for our customers. Kojamo’s shares are listed on the official list of Nasdaq Helsinki. For more information, please visit kojamo.fi/en/