SRV GROUP PLC INVESTOR NEWS 30 AUGUST 2019 14.45 EET
SRV builds rental apartments for Kojamo in the Helsinki metropolitan area
SRV Group Plc and Kojamo Plc have signed a cooperation agreement on construction of rental apartments valued of approximately EUR 120 million in Helsinki, Espoo, Vantaa and Kerava. The contract includes a total of six residential development projects, with a total of 527 residential units. The apartments are mainly studios and two-room apartments. The fulfillment of individual projects within the contract is subject to the customary sales terms and conditions.
The residential development projects are developed by SRV. These projects are mainly sold to the investor before construction begins. SRV builds housing units in growth centres close to good transportation connections. The projects included in the contract are recorded in the order backlog as and when the trade conditions are met. The projects will be completed in stages during 2019-2022, some of which are already under construction. The projects will be recognised as income over several years.
“In line with our strategy, we build homes in growth centres both as developer-contracted and development projects. This cooperation agreement is a continuation of the good long-term cooperation with the residential real estate company Kojamo,” says Antero Nuutinen, Senior Vice President, Housing and Regional Offices.
For further information, please contact:
Antero Nuutinen, Senior Vice President, Housing and Regional Offices, tel. +358 40 531 4918, antero.nuutinen@srv.fi
Maija Karhusaari, Senior Vice President, Communications and Marketing, Tel. +358 45 218 3772, maija.karhusaari@srv.fi
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SRV in brief
SRV is a bold developer and innovator in the construction industry. We want to offer the best customer experience as a constructor of urban city centres, while also being the most attractive employer in the industry. Our genuine cooperation and enthusiasm for our work comes across in every encounter. Sustainability is reflected in all our activities.
Established in 1987, we are a publicly listed company since 2007 in Helsinki Nasdaq stock exchange that operates in selected growth centres in Finland and Russia. Our revenue in 2018 was EUR 960 million. Over 1,000 people work for us and we employ a network of almost 4,000 subcontractors in our projects.
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