SRV'S HOUSING BACKLOG EXCEEDS 2000 RESIDENTIAL UNITS

SRV GROUP PLC      STOCK EXCAHNGE RELEASE   28.4.2011 at 8.45 am EET

SRV’s housing backlog is over 2 000 residential units, most of which will be built in Helsinki Metropolitan area. In last year the equivalent figure was below one thousand. Housing construction in Finland represents approximately one third of SRV Group’s total revenue.

Clearly more than a half of the residential units under construction are rental or right-of-occupancy apartments. Part of SRV’s developer contracting residential units is built under price regulated principles set by municipal authorities.

“After the recession, we boldly took action in building rental units in order to have versatile mix in our residential housing portfolio. Thus we have carried our share of social responsibility, since there is an increasing need for rental apartments. SRV is now one of the biggest residential constructors within Helsinki Metropolitan area”, says the President and CEO Jukka Hienonen.

The latest contract SRV signed with Tarveasunnot Oy for two apartment houses in Kerava. A month ago, SRV and Tarveasunnot made a deal for residential projects in Espoo. Value of these contacts exceeds 40 million euro.

SRV Group Plc
Taneli Hassinen
Director Communications
Tel. +358 40 504 3321
taneli.hasssinen@srv.fi