Toivo Group Plc strengthens its position in the Leppävaara area in Espoo

Press release, 12 August 2022 at 10:30 a.m.

Toivo Group Plc (hereinafter referred to as “Toivo” or “the Company”) has strengthened its foothold in Leppävaara, Espoo. A legally valid city plan has been granted for the company’s significant new construction project, which enables the implementation of a new apartment building project with more than 80 apartments. Toivo already has 5 projects under way in the Leppävaara area, covering more than 100 apartments.

Leppävaara in Espoo is an important market area for Toivo. Urban development is focused on the area around the railway, and Toivo has had close cooperation with the landowners of Kilonkartano in Espoo. The development work with Kilonkartano has enabled Toivo to play a significant role as a developer of Leppävaara.

“We are happy that we have been able to initiate and implement several significant projects in the Leppävaara area in Espoo. We are by far the largest real estate operator in Leppävaara in terms of number of projects. We would especially like to thank Kilonkartano for the long and close cooperation,” says Markus Myllymäki, CEO of Toivo.

“As a landowner, it is a pleasure to work with a company whose operations are straightforward, easy and clear. Asemamestari is a good addition to the projects we have developed together,” says Rasmus Burmeister from Kilonkartano.

Espoo’s Asemamestari will be implemented in accordance with Toivo’s unique business model. In addition to being the land developer in the project, Toivo is also acting as the builder and owner of the apartments.

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.