Kojamo plc Press release 30 June 2020 at 2:15 p.m.
Kojamo plc: Lumo Kodit to start construction of 95 apartments in Matinkylä, Espoo
Lumo Kodit Oy has agreed with SRV Rakennus Oy on the construction of 95 new apartments in Matinkylä, Espoo.
Asunto Oy Espoon Piispanristi is located close to the services of the rapidly developing district of Matinkylä. The nearby Iso Omena shopping centre offers a wide range of services and the metro station and bus terminal are also within easy reach. The investment consists of a 13-storey apartment building and an underground car park. The new Lumo apartments will be completed in August 2022.
The new Lumo apartments support Kojamo’s strategic growth in the Helsinki Metropolitan Area. 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 has now approximately 2,400 apartments under construction.
As. Oy Piispanristi is the second completed deal under Kojamo’s EUR 120 million cooperation agreement with SRV. On 30 August 2019, Kojamo plc and SRV signed a cooperation agreement on implementing rental apartments worth approximately MEUR 120 in Munkkivuori in Helsinki, Matinkylä in Espoo, Iivisniemi in Vantaa and Kerava. The agreement includes six locations with a total of 527 Lumo rental apartments to be completed. The agreement was announced in a stock exchange release on 30 August 2019. The first deal under the cooperation agreement between Kojamo and SRV was the acquisition of 42 new apartments on Santaniitynkatu 17 in Kerava on 23 September 2019.
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 kojamo.fi/en/