Media release 12 July 2021 at 1:00 p.m.
Kojamo plc: Lumo Kodit has agreed on the construction of 593 new apartments in the Helsinki Metropolitan Area within the framework of its current cooperation agreements
Lumo Kodit Oy has signed agreements on the acquisition of newly constructed properties with several construction companies. The agreements concern the construction of 593 new apartments in the Helsinki Metropolitan Area, in Helsinki, Espoo and Vantaa. The construction of these apartments is part of previously concluded cooperation agreements.
With excellent locations and featuring extensive shared facilities and additional services, the new apartments will be completed by summer 2023. The agreements were signed with SRV, Pohjola Rakennus Oy, Hausia Oy and Hartela.
New apartments in Helsinki’s Pasila district and Espoo’s Olari district
Lumo Kodit Oy and SRV have signed an agreement on the construction of 129 rental apartments in Helsinki’s Pasila district. Asunto Oy Helsingin Höyrypilli and Asunto Oy Helsingin Vihellys will be located next to the comprehensive services of Mall of Tripla and the renovated Pasila train station. The project concerns the construction of nine-storey and six-storey residential buildings. The 129 new Lumo apartments will include singles, two-room apartments and three-room apartments.
The project is part of the EUR 197 million cooperation agreement announced in 2020 regarding the construction of rental apartments for Lumo Kodit Oy. On 2 March 2020, SRV Yhtiöt Oyj and Kojamo plc signed a cooperation agreement on the development of rental apartments valued at EUR 197 million in Helsinki and Espoo. The agreement concerns a total of six residential properties that will comprise 676 apartments in total. The four previously announced projects under the agreement are currently under construction.
In addition, Lumo Kodit Oy and SRV have agreed on the construction of 65 rental apartments at Pyhtäänkorventie 15 F in Vantaa. The project is part of a broader agreement on multiple projects signed with SRV on 30 August 2019. This cooperation agreement is the result of Kojamo’s reverse tendering process held in spring 2019, in which construction companies were requested to prepare proposals on investment initiatives of approximately EUR 100 million.
Lumo Kodit Oy has agreed on the construction of a total of 113 new apartments in Helsinki’s Kannelmäki and Malmi districts with Pohjola Rakennus Oy. The agreement was concluded on the basis of a previous cooperation agreement with Pohjola Rakennus. The property to be built at Vanhaistentie 3 in Kannelmäki will consist of 27 new apartments, while the property at Vanha Helsingintie 20 in Malmi will consist of 86 new apartments.
Lumo Kodit Oy has also signed an agreement with Rakennusosakeyhtiö Hartela on the acquisition of a newly constructed property. Under the agreement, 80 new apartments will be built in Espoo’s Olari district. The property is part of a previous cooperation agreement concluded with Hartela. Espoon Gräsantörmä 1 C and D consist of two 8–9-storey buildings. All of the apartments will have a balcony and the apartments on the ground floor will also have a private garden in addition to a balcony.
New agreements with Hausia concern 206 apartments
Lumo Kodit Oy has agreed on the acquisition of a newly constructed property with Hausia Oy. The property is located in Espoo’s Jousenpuisto neighbourhood and it consists of 80 new apartments. At the same time, Lumo Kodit agreed on the construction of a property at Kielotie 34 in Vantaa’s Tikkurila district with Hausia. A total of 126 new apartments will be built at Kielotie 34. These new agreements concern 206 apartments in total. The properties are part of the cooperation agreement signed with Hausia Oy on 15 January 2021.
At all of the properties, residents will enjoy comprehensive shared facilities including saunas, terraces as well as club rooms that can be used for family celebrations, for example. Services such as cleaning and removal services are also available. All of the properties are located close to excellent services and transport links. The new apartments will be completed between late 2022 and summer 2023.
These investments support Kojamo’s strategic growth. 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 one of the biggest investors in Finland. Our mission is to create better urban housing. Lumo offers environmentally friendly housing and services for the city dweller who appreciates quality and effortlessness. 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 https://kojamo.fi/en/.