Real estate investor Sponda Plc announces that it has sold two plots of land in Jokiniemi, Vantaa designated for housing production to VVO-group plc for €15 million. The plots, located on Tikkurilantie road, have altogether residential building rights of 40,000 m². Sponda is recording a capital gain of €12 million on the sale.
In this transaction Sponda is selling land designated for housing production that is not in line with the company's strategy. As stated in the company's strategy, Sponda focuses on owning office, retail and logistics properties.