Toivo Group Plc has concluded an agreement on a new residential project in Kaarina

Press release, 20 June 2022 at 3:15 p.m.

Toivo Group Plc (hereinafter referred to as “Toivo” or “the Company”) has concluded a real estate transaction that will see the Company carry out a semi-detached house project comprising 8 residential units in Kaarina. The property has a legally valid building permit, and advance marketing and construction is expected to start within the next few months. Toivo aims to complete the semi-detached houses in summer 2023.

The project will use wood construction and consist entirely of spacious single level homes designed for families. Renewable energy will be used for the heating of the property. The project’s energy class is B.

“This project is the first of its kind for Toivo in Kaarina. We see growing demand for new family homes in the municipalities around Turku. We will be able to get started quickly on the project we have just acquired, and our customers have given us positive feedback on our previous projects implemented with a similar concept. After the exceptional times of the past couple of years, home buyers particularly value versatility and having your own yard,” says Tuomas Hemmilä, Director of Real Estate Development at Toivo.

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.