Toivo Group Plc signs agreement for EUR 4,5 million owner-occupied housing project in Torpparinmäki, Helsinki
Press release, 18 October 2024 at 14:00
Toivo Group Plc ("Toivo") is launching a new EUR 4,5 million owner-occupied housing project in the Torpparinmäki district of Helsinki. The project is a semi-Hitas development and will consist of twelve apartments in total. The properties will be brought to market before the end of 2024.
“We are happy to carry out a small-scale housing project in one of the most sought-after areas in Helsinki. The project will be part of the city’s semi-Hitas program, which means that the prices of the apartments will be regulated for the first sale. After that, the buyer is free to sell the apartment on the open market,” explains Petter Ruuskanen, Project Development Manager at Toivo.
"The project will be brought to pre-sales later this autumn, and construction is expected to begin around the turn of the year," adds Toivo's Chief Operating Officer, Urho Myllymäki.
Toivo Group Plc
Further information
Markus Myllymäki
CEO
Toivo Group Oyj
Tel. +358 (0)40 8476206
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 2023 was EUR 43,7 million and its operating profit was EUR -0,3 million.