Kojamo plc Press release 3 April 2020 at 12:00 p.m.
Kojamo supports its restaurant and café tenants with rent exemptions
Kojamo is contributing to the continuity of its restaurant and café tenants’ business operations by exempting them from rent for April and May due to the coronavirus situation.
We have decided to expand our support to our restaurant and café tenants whose operations have faced difficulties. This way, we are trying to secure the business operations of these companies so that the Finnish Parliament’s and Government’s decisions on shutting down the premises of restaurants and cafés from April 4 to May 31, 2020 will not risk our tenants’ business operations.
“In this state of emergency caused by the coronavirus epidemic, we are supporting our restaurant and café tenants by exempting them from paying rent for two months, until the end of May. For our part, we want to support the continuity of business operations of restaurants and cafés that are facing difficulties because of the state of emergency,” says Ville Raitio, Chief Investment Officer at Kojamo.
We will contact our café and restaurant tenants who will be affected by the change in legislation.
The opportunity to discontinue the invoicing of the rents for property tenants is already in use
We are monitoring the situation closely and understand the challenging situation companies are in during this exceptional time. Previously, Kojamo has offered commercial property tenants the opportunity to discontinue the invoicing of their rents for two months. We will create a separate payment scheme for uninvoiced rents together with the tenant.
With these actions, we aim to ensure the continuity of their operations for our part in these exceptional times.
For more information, please contact:
Kojamo plc, Ville Raitio, Chief Investment Officer, tel. +358 (0)20 508 3012
Interview requests: Irene Kantor, Marketing and Communications Director, tel. +358 (0)20 508 3589
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/