Toivo Group Plc concludes an agreement for a 74-apartment project in Espoon Keskus
Press release, 30 March 2022 at 9:30 a.m.
Toivo Group Plc (hereinafter referred to as “Company” or “Toivo”) has concluded a project agreement valued at about EUR 14.5 million in Espoon Keskus. The project includes an existing residential building with 38 apartments as well as a permit for the construction of about 36 new apartments and business premises.
The permit planning of the new building has been started and the construction is set to begin in early 2023. The planning and design will follow Toivo’s environmentally friendly and customer-oriented principles.
“The project is very interesting to us, although not the only one of its kind. We’ll get to develop synergies between the existing residential building and the new building rights. The business premises included in the project will develop the services of the area and we are, of course, preparing to construct the new building in the eco-friendly energy efficiency class A,” says Markus Myllymäki, CEO of Toivo.
Located in Espoon Keskus, the project has excellent transport connections and is a stone’s throw away from a shopping centre and the related services.
Toivo Group Plc
Further information
Markus Myllymäki
CEO
Toivo Group Plc
Tel. +358 (0)40 847 6206
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 12,000 apartments, and they have an average of ten years of experience from the real estate business.
Toivo’s revenue in 2021 was EUR 13.6 million and its operating profit was EUR 15.8 million.