Toivo Group Plc to carry out a project comprising 17 apartments, totalling approximately 1,300 square metres, in Helsinki’s Honkasuo district
Press release, 17 June 2022 at 3:00 p.m.
Toivo Group Plc (hereinafter referred to as “Toivo” or “the Company”) has concluded an agreement for the Company to carry out a terraced house project comprising 17 apartments in Helsinki’s Honkasuo district. The advance marketing and construction of the project is expected to start this year. Toivo aims to complete the apartments in 2023.
The project will use wood construction and all of the apartments will be designed for families. The project’s energy class is B. The design solutions will be particularly focused on enabling smooth and convenient daily life for the residents.
“Honkasuo lies to the north of Malminkartano. A new idyllic residential neighbourhood that will appeal especially to families with children is under construction in the district. The services and train connections of Helsinki’s Malminkartano district and Vantaa’s Myyrmäki district are both within approximately one kilometre of the project. We anticipate strong demand for these apartments, and our production team has previous experience of similar projects. Our cooperation with the City of Helsinki has been very smooth during the planning process,” 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.