New development
and acquisitions

Properties under construction

During the review period, VVO Group signed an agreement with Rakennusosakeyhtiö Hartela on the development of rental apartments in Helsinki, Espoo, Tuusula and Lahti, with a total value of approximately EUR 41 million. This agreement involves the construction of 205 apartments and is a continuation to the more than EUR 100 million agreement published in autumn 2014. In addition, the City of Espoo decided to sell a specified parcel of an apartment block plot to VVO Group in an open competitive tendering. The plot is located in the Jousenpuisto city plan zone in the Tapiola district of Espoo. The purchase price of the plot was EUR 9 million.

In the Jätkäsaari district of Helsinki, the Low2No block project proceeded: VVO Group and SRV signed a contract on a 63-apartment property on 17 September. This energy-efficient property is due for completion in 2017. Each party to the Airut block project invests in researching and developing new sustainable solutions as well as in design and implementation, in the proportion determined by their building rights. The block is a combination of apartments, offices and business premises. VVO Group is responsible for the rental housing production in the project.

Completed properties

A total of 44 new Lumo rental homes were built at Capellan Puistotie 4, Helsinki. The property is located by the sea in the Kalasatama district, next to the bridge leading to Mustikkamaa island.

At Lauri Korpisen katu 10 in the Tikkurila district of Vantaa, 188 apartments were completed in phases, utilising new kinds of energy-efficient solutions with the aid of innovative building automation. The building has solar panels installed on the roof to generate electricity that covers part of the building’s energy consumption. Advanced ventilation control is based on motion detection connected to an apartment-specific control system. Furthermore, in some apartments, ventilation is controlled with humidity sensors. Water-based underfloor heating installed to increase thermal comfort in toilets and bathrooms is also controlled apartment by apartment.

Three apartment blocks with a total of 114 new Lumo rental apartments were completed at Lehtikallio 4 in the Pähkinärinne district of Vantaa.

On the slopes of Puijonlaakso in Kuopio, the first phase of 153 new Lumo rental homes was completed at Kelkkailijantie 4. The new residential area is located close to Kuopio University Hospital, a diverse range of services and good opportunities for hobbies and recreation. The University of Eastern Finland and Kuopio’s Technopolis are nearby and the city centre is not far either.

In the Taka-Töölö district of Helsinki, we carried out a thorough renovation of a seven-storey building in a central location at Messeniuksenkatu 1. The building, equipped with lifts and dating back to 1941, was renovated in 2015, with due care and respect for its protected facade. VVO Group also brought district cooling to these 25 Lumo rental apartments.

In the heart of Tampere, we were building Satakunnankatu 21, the apartment block that won the land conveyance competition. The building will house 37 Lumo rental apartments and three business premises. The building will be completed in early 2016.

Acquired properties

VVO acquired a property at Saariniemenkatu 6, in the Hakaniemi district of Helsinki, from the Social Democratic Party of Finland (SDP). The acquired property has 24 privately financed rental apartments, with an average size of 48 m², as well as approximately 1,200 m² of business and office premises. The purchase price of the property was approximately EUR 7.4 million. SDP sold the property through competitive bidding.

VVO Kodit Oy acquired a real estate development site located at Lönnrotinkatu 30. VVO Kodit Oy already owned rental apartments at the same address. VVO Group will build high-quality Lumo rental apartments in the acquired business and office premises.


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