VVO Group and Lehto agreed on building more than 100 rental apartments
VVO Homes and Lehto Group Plc have agreed upon a cooperation to build more than 100 rental apartments in Helsinki metropolitan area. Lumo rental homes will be built in 2017 and 2018. The parties have not disclosed the value of the contract.
The agreement covers the construction of two large apartment buildings as turnkey project. The apartment buildings will be delivered by Lehto Group Plc’s subsidiary Rakennuskartio ltd.
In all apartments Lehto will use prefabricated factory components, such as kitchen and bathroom modules that are produced in Lehto’s own factory in Oulainen.
“The cooperation with VVO Group has been very pleasant and easy. We thank for the confidence and are looking eagerly forward to start the cooperation,” says Markus Myllymäki, Commercial Director at Rakennuskartio.
“This rental housing investment is part of our strategic growth objective. We want to increase the Group´s total amount of rental apartments annually by 1,000,” says Kim Jolkkonen, Real Estate Development Director at VVO.
This cooperation agreement is the first between VVO Homes and Lehto Group Plc.
For more information:
Markus Myllymäki, Commercial Director, Rakennuskartio ltd
+ 358 40 847 6206
Kim Jolkkonen, Real Estate Development Director, VVO Group plc
+ 358 400 243 144
Lehto Group in brief
Lehto Group is a Finnish construction and real estate group focusing on economically driven construction. The company’s mission is to be an innovative reformer of the construction industry. The company has divided its operations into four service areas: Business Premises, Housing, Social Care and Educational Premises and Building Renovation. Lehto Group currently operates in Finland and is geographically concentrated in growth centres which form a significant part of the construction volume. The company’s headquarters are located in Kempele. The company’s net sales in financial year 2015 was approx. EUR 276 million and the company employed 423 people at the end of the financial year 2015.
VVO Group in brief
Under the Lumo and VVO brands, VVO Group Plc offers versatile and effortless rental solutions coupled with an extensive range of housing services for different life situations. VVO Group aims to invest heavily in increasing housing supply in the next three years by developing new properties and buying existing properties.