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31.8.2020 | Press releases

Kojamo plc: Lumo Kodit to start construction of 74 apartments in Nöykkiönlaakso, Espoo

Kojamo plc Media release 31 August 2020 at 11:50 a.m.

Kojamo plc: Lumo Kodit to start construction of 74 apartments in Nöykkiönlaakso, Espoo

Lumo Kodit Oy and Lehto Asunnot Oy have signed a cooperation agreement on the development of 74 Lumo rental apartments in Espoo’s Nöykkiönlaakso district. The agreement is part of a broader agreement between Kojamo and Lehto to develop a total of 11 properties in Espoo’s Nihtisilta, Niittykumpu and Nöykkiönlaakso districts and in Helsinki’s Vartiokylä district. The agreement was announced in a press release on 30 June 2020. Kojamo now has approximately 2,600 apartments under construction.

Three wooden apartment blocks will be built at Nöykkiönlaaksontie 7 in Espoo. The design of these blocks is based on Lehto’s new ecological Deco wooden apartment block concept that involves modular elements. The modules for the wooden apartment blocks are built from Finnish timber. The use of wood in construction supports low-carbon construction.

As is typical of Deco wooden apartment blocks, the new Lumo apartments will feature apartment-specific ventilation, water-based underfloor heating, high-quality energy-saving kitchen fittings and appliances as well as tall windows that let in plenty of natural light.

“We want to provide our residents with the best possible living experience and to develop better urban housing in a sustainable manner.  The new apartments will be in an excellent location with good services, outdoor exercise opportunities and accessibility, and they support our efforts towards profitable growth,” says Kojamo’s Chief Investment Officer Ville Raitio.

The new apartments include singles, two-room apartments and three-room apartments. Construction is estimated to be completed in late 2021.

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.

Further information:
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