SRV to record three apartment buildings to Kojamo in its order backlog – the work will begin immediately

SRV GROUP PLC     INVESTOR NEWS     31 MARCH 2020   17.20 EET

SRV to record three apartment buildings to Kojamo in its order backlog – the work will begin immediately

SRV and Kojamo have signed contract agreements on construction of three rental apartment buildings. The projects were recorded in SRV’s order backlog in the first quarter of 2020. The projects are part of EUR 197 million cooperation agreement with Kojamo, announced earlier this month.

“During the first months of the year, we have announced new contracts valued of EUR 325 million on construction or renovation of rental apartments and various business premises. These agreements are good examples of projects, where we have strong customers and which do not significantly tie up SRV’s capital. I am delighted to see that with our recovery programme our customers trust us and we have been able to start several new projects this year,” says Saku Sipola, President and CEO of SRV Group Plc.

Two of the rental apartment buildings, now recorded in the order backlog, will be located in Helsinki and one in Espoo. The apartments, altogether 256 residential units, are mainly studios and two-room apartments. The construction of the projects will start immediately and the projects will be completed in stages during 2021–2022.

“With our long-term cooperation with Kojamo, we respond to housing demand in growth centres. These three projects have excellent locations in the vicinity of good transport connections,” says Kim Jolkkonen, Senior Vice President, Housing at SRV.

SRV Group Plc and Kojamo Plc signed a cooperation agreement on 2 March 2020 on construction of rental apartments valued of EUR 197 million in Helsinki and Espoo. The contract includes a total of six residential development projects, with a total of 676 residential units.

 

For further information, please contact:
Saku Sipola, President & CEO, tel. +358 40 551 5953, saku.sipola@srv.fi  
Kim Jolkkonen, SVP, Housing, tel. +358 400 243 144 ,
kim.jolkkonen@srv.fi 
Maija Karhusaari, SVP, Communications and Marketing, tel. +358 45 218 3772, maija.karhusaari@srv.fi

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SRV in brief
SRV is a developer and innovator in the construction industry. We want to offer the best customer experience as a constructor of urban city centres, while also being the most attractive employer in the industry. Our genuine cooperation and enthusiasm for our work comes across in every encounter. Sustainability is reflected in all our activities.

Established in 1987, we are a publicly listed company since 2007 in Helsinki Nasdaq stock exchange that operates in selected growth centres in Finland and Russia. Our revenue in 2019 was EUR 1,061 million. Over 1,000 people work for us and we employ a network of almost 4,000 subcontractors in our projects.

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