Toivo Group Plc to carry out a 28-apartment and approximately EUR 7.5 million housing project in Helsinki
Press release, 8 April 2022 at 2:00 p.m.
Toivo Group Plc (“the Company” or “Toivo”) has started construction work on a residential building project in Mellunkylä, Helsinki. The project is scheduled for completion during spring 2023. The project focuses on family housing. The energy class B building will be heated by district heating. The apartments will be sold to consumers as owner-occupied apartments in accordance with the City of Helsinki’s principles of price-controlled housing production. The marketing of the apartments has progressed as planned and almost all apartments have been booked in the pre-market.
Says Toivo’s CEO Markus Myllymäki: “The project is in line with our strategy and we are proud to contribute to the City of Helsinki’s housing policies through this project as well. We aim to sell around 5–15% of our annual investment volume, as this allows for more efficient use of capital and higher investment volumes. Toivo’s role in the project is to act as the developer, the builder and the seller of the apartments.”
“The construction method in this project is familiar to Toivo. We have a lot of experience with similar projects. We have the necessary expertise and resources to deliver quality housing for residents in a reliable way,” says Urho Myllymäki, Director of Construction 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.
