Toivo Group Plc starts a residential apartment building investment valued EUR 18 million near the Kilo station in Espoo.

Press release, 30 August 2024 at 11:30AM

Toivo Group Plc (“Toivo” or “Company”) is undertaking an EUR 18 million construction project in Espoo, in the immediate proximity of the Kilo station. The project involves two apartment buildings and includes a total of 85 apartments. Toivo will retain ownership of the property, and the apartments will be rented out to consumers.

” The project is based on the company’s own zoning work, and we have been able to influence every stage of its development, which is reflected as high-quality and well-designed apartments for our end customers. The location of the property, in close proximity to the Kilo train station, is excellent. The platform is less than 50 meters away, which is especially convenient to customers who make use of public transport.” sums up Toivo’s Project Development Manager, Petter Ruuskanen.

” Construction of the project will begin immediately in September 2024, and the project is expected to be completed by late fall 2025. The construction method is conventional, although the close proximity of the train tracks had to be taken into account during planning and preparation phases,” explains Toivo’s Chief Operating Officer, Urho Myllymäki.

Toivo Group Plc

Further information

Markus Myllymäki

CEO

Toivo Group Oyj

Tel. +358 (0)40 8476206

markus.myllymaki@toivo.fi

About Toivo

Toivo is a Finnish real estate company that was founded in 2015. Its business consists of project development and long-term ownership of apartments. The Company’s business model is unique as Toivo’s business combines the value chain of real estate business from development and construction to ownership, management and rental of a completed property. Toivo manages the entire life cycle of properties with its own team, from raw land development to tenancy agreement negotiations and property maintenance. This way Toivo is able to generate additional value to its customers, shareholders and stakeholders.

Toivo’s strategy is to develop properties in accordance with the Toivo concept. The properties aim for a strong development margin and a stable and attractive return, and in this way enable long-term ownership and the generation of higher additional value to Toivo’s customers. Toivo has a knowledgeable and experienced team of experts with strong merits in the real estate business. The members of Toivo’s team have been involved in the development and construction of over 17,000 apartments, and they have an average of ten years of experience in the real estate business.

Toivo’s revenue in 2023 was EUR 43,7 million and its operating profit was EUR -0,3 million.