Lehto Group Plc: Lehto selected to implement the City of Vantaa’s new office building

Lehto Group Plc
Insider information
11 March 2021 at 6.00 p.m. (EET)

Lehto Group Plc’s subsidiary Lehto Tilat Oy has been selected to design and implement a new multi-space office building in Tikkurila, Vantaa as a turnkey project. The tendering process was organised using a public procurement negotiated procedure.

The hybrid project consists of two components: A multi-space office building for VTK Kiinteistöt Oy (a real estate company owned by the City of Vantaa), which will contain business premises on the ground floor, premises for the City’s use and an underground parking facility; and residential housing construction for Lehto. The gross area of the multi-space office building will be about 23,000 m² and the floor area of the residential component will be about 6,000 m².

Lehto’s contract price for the multi-space office building will be approximately EUR 58 million. In addition to this, Lehto will build a developer-contracted project encompassing about 100 housing units. Construction work is expected to begin in 2022 and the project is scheduled for completion in 2025.

This project will have no impact on the outlook for 2021 previously published by the Lehto Group.

“In Lehto’s opinion, it’s a pleasure to be able to develop the centre of Tikkurila. In this project, Lehto’s expertise will come into its own, as cooperation between our company’s various service areas will enable us to provide a comprehensive solution to support the city’s residents. The City is investing in the business premises and Lehto will be building the residential component as a developer-contracted project,” says Hannu Lehto, Lehto’s CEO.

The eventual realisation of the project may be affected by various factors related to decision-making in public procurement, such as demands for rectification or complaints made to the Finnish Market Court.

Further information in English:
Veli-Pekka Paloranta, CFO, Lehto Group Plc, +358 400 944 074

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