Toivo Group Plc concludes an agreement for land leases worth approximately EUR 1.1 million in Nurmijärvi
Press release, 27 April 2022 at 14:30
Toivo Group Plc (“the Company” or “Toivo”) has entered into 60-year land lease agreements with Jukkatalo Oy, which is to build semi-detached and detached houses - a total of 17 apartments - on the plots for sale to consumer customers.
According to Markus Myllymäki, CEO of Toivo, “The agreement is a continuation of the good cooperation between Toivo and Jukkatalo Oy. Toivo signed agreements on the land already in 2019 and the development work has paid off: the project achieves our normal development margin, while the rent level for the residents of the plots corresponds to the price levels applied by the municipality.”
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 17,000 apartments, and they have an average of ten years of experience in the real estate business.
Toivo’s revenue in 2021 was EUR 13.6 million and its operating profit was EUR 15.8 million.
