Kojamo plc Media release 7 November 2019 at 2.00 p.m.
Lumo Kodit Oy and Hausia Oy have agreed on the construction of 47 new rental apartments in Espoon keskus.
Located by the railway, the central district of Espoon keskus is undergoing an extensive renewal, with the former administrative centre being transformed into a modern urban centre with attractive residential blocks and jobs. The area offers excellent transport links as well as a diverse and developing range of services. As Oy Espoon Kaupunginpuiston Opus C building will consist of modern two-room apartments and three-room apartments with spacious balconies. The building is part of a new block that is also designed to have a landscaped yard. The apartments represent a good response to demand in the area.
The 47 apartments to be built in Espoon keskus are the first completed transaction under the cooperation agreement signed by Kojamo and Hausia on 30 August 2019 with regard to the development of rental apartments valued at approximately EUR 90 million in Espoo.
The agreement with Hausia consists of five developments with a total of 378 Lumo rental apartments to be completed. The cooperation agreement between Lumo Kodit and Hausia was the result of Kojamo’s reverse tendering process, in which construction companies were requested to prepare proposals on investment initiatives of approximately EUR 100 million in the Helsinki region. Kojamo announced the cooperation agreement on 30 August 2019.
The new Lumo apartments in Espoon keskus are part of Kojamo’s investment strategy, which is focused on Finland’s seven largest growth centres. Construction will begin in November 2019 and is scheduled to be completed in late 2020.
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/