Toivo Group Plc has signed an agreement for a EUR 9 million project management contract in Vantaa
Press release, [23 January 2025 at 2:00pm]
Toivo Group Plc (”Toivo” or “Company”) has signed a project management contract for the construction of an apartment building in Vantaa. The value of the contract is approximately EUR 9 million. The apartment building will include a total of 60 modern rental apartments. Construction is set to begin in March 2025 and is expected to be completed by spring of 2026.
”We are very happy that we get to complete the Aviapolis block through this project. This contract is also telling of the fact that our production team has succeeded in quality and cost efficiency through challenging times in the industry”, tells Toivo’s production director Markus Pulkkinen.
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.