SRV builds nearly 200 housing units for LocalTapiola and Elo Mutual Pension Insurance Company
SRV GROUP PLC STOCK EXCHANGE RELEASE 21 DECEMBER 2015, AT 14.00
SRV builds nearly 200 housing units for LocalTapiola and Elo Mutual Pension Insurance Company
SRV has signed agreements on the construction of nearly 200 housing units for LocalTapiola and Elo Mutual Pension Insurance Company. The agreements cover the construction of 101 housing units for LocalTapiola Asuntosijoitus Ky housing fund and 89 housing units for Elo Mutual Pension Insurance Company. The housing units are built in Tikkurila, Vantaa as a part of a quarter project worth approximately EUR 100 million. Construction of the housing units will commence immediately and they will be completed in spring 2017.
“These agreements are a fine continuation of our excellent cooperation with institutional investors. The agreements are also an indication of our status as one of the leading housing production companies in Finland’s growth centres. Our role is also greatly strengthened by efficient consumer sales. The number of housing units sold to consumers is expected to rise this year by more than double compared with last year,” explains Antero Nuutinen, SRV’s Senior Vice President, Housing in Finland.
There has been strong investment in housing start-ups, which is also reflected in SRV’s record-high order backlog. During 2015, construction began on a total of 1,488 new homes and approximately 1,100 of them is sold already. Housing sales figures have been good throughout the year, and in June a record high in monthly sales was achieved, when the number of housing units sold reached 150.
“We have succeeded in focusing our housing production in areas where there is demand, even though the housing market generally is subdued. In line with its strategy, SRV will also strengthen its housing production in future, focusing on Finland’s growth centres and, in these areas, particularly on developer-contracted projects located in city centers,” continues Nuutinen.
The projects to be built for LocalTapiola and Elo are part of a quarter consisting of five housing companies situated in the centre of Tikkurila on the site of a former Toyota sales outlet. The companies, moreover, have been named after Toyota car models: the Carina founder contracting site is already under way, while Verso will be built for Elo and Celica for LocalTapiola, and Lexus and Starlet are being planned. The quarter will ultimately consist of a total of 400 housing units for approximately 800 residents.
“The project under construction at the quarter is our biggest housing project after Niittykumpu Centre. SRV has been a leader in renewing the main street of Tikkurila, and a number of city plan changes are in the pipeline. Within ten years, the look of the main street will change, and we are proud to be a driving force in this,” says Antero Nuutinen.
Further information:
Antero Nuutinen, Senior Vice President, Housing in Finland, tel. +358 40 531 918, antero.nuutinen@srv.fi
Päivi Kauhanen, Senior Vice President, Communications, tel. +358 50 598 9560, paivi.kauhanen@srv.fi