SATO Corporation, Investor News, 14.8.2015, 12:35
Housing company SATO has entered into an agreement with Skanska on the development of 45 rental homes in Kauniainen in the immediate vicinity of the railway station as well as a diversity of services and the lively town centre. The homes will be completed in early 2017.
The units will be studios, one-bedrooms and two-bedrooms with efficient use of space, with their average floor area around 50 sqm. Residents’ parking spaces will mainly be located in the parking facility constructed next to the property. The investment totals around €10.5 million.
Director Antti Aarnio from SATO:
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The homes now to be constructed will be ideal for renting. There is constant demand for small apartments, and our customers also hope to have access to good public transport connections.
- Kauniainen is a sought-after residential area thanks to its diverse supply of services and its nature values. These homes will be a nice addition to our current supply in the area.
For more information please contact:
Antti Aarnio, Director, phone +358 40 164 7052
SATO is one of Finland's leading corporate investors in housing. SATO’s aim is to offer comprehensive alternatives in rental housing and an excellent customer experience. All told, SATO holds roughly 24,400 rental homes in Finland’s largest growth centres and in St Petersburg.
In our operations, we promote sustainable development and initiative-taking, and work in open interaction with our stakeholders to create added value. We operate profitably and with a long-term view. We increase the value of our housing property through investments, divestments and repair work.
SATO Group's net sales in 2014 were €312.3 million, operating profit €191.3 million and profit before taxes €152.2 million. SATO's investment properties have a value of roughly €2.7 billion.