Toivo Group Plc (Toivo) is undertaking a construction project worth approximately €10m in Aviapolis, Vantaa, near Helsinki-Vantaa Airport. The project will be a multi-story residential building featuring geothermal heating and an energy efficiency rating of class A. The property will include a total of 49 apartments, which will remain under Toivo's ownership and be rented out to consumers.
"The project is the fourth initiated by Toivo in the same block during 2023–2024 and is based on the company’s own zoning plans. This is already the second significant project launched for Toivo’s own ownership this autumn. The initiation of the project has been made possible by the capital freed up from portfolio sales completed in 2024," said Lauri Rekola, Toivo’s Head of Finance and Risk Management.
"Construction of the project will begin immediately in December 2024, with completion expected by the end of 2025. In building this property, we are able to leverage the existing construction infrastructure within the same city block, as well as our network of contractors who are familiar with the site and its operating environment. We believe we will achieve significant synergies from executing multiple technically similar buildings at the same location," explained Urho Myllymaki, Toivo’s Chief Operating Officer.
Image source - Toivo.
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