Press release, [11 July 2024 at 12:00]

Toivo Group Plc (“Toivo” or “Company”) is undertaking construction project worth EUR 6,4 million in Vantaa Aviapolis. The heating source for the residential building to be constructed will be geothermal energy, and the building will be in the A energy class. The project is in the form of an apartment building and will have a total of 36 apartments. Toivo has already completed two residential apartment buildings in the same block in Aviapolis.

“I am happy that we can seamlessly continue the development of the Aviapolis block with this deal. It is great to see that the project we designed for the block is also well-suited to our partner. In addition to the project we are starting now, we plan to build two more residential apartment buildings in the block” summarizes Toivo’s Project Development Manager Petter Ruuskanen.

“Construction of the site will begin immediately in the summer of 2024 and project is expected to be completed by late summer 2025. The construction method for this project is very standard for Toivo, so we are embarking on the project with confidence” says Toivo’s Director of construction Urho Myllymäki.

Toivo Group Plc

Further information

Markus Myllymäki

CEO

Toivo Group Oyj

Tel. +358 (0)40 8476206

markus.myllymaki@toivo.fi

About Toivo

Toivo is a Finnish real estate company that was founded in 2015. Its business consists of project development and long-term ownership of apartments. The Company’s business model is unique as Toivo’s business combines the value chain of real estate business from development and construction to ownership, management and rental of a completed property. Toivo manages the entire life cycle of properties with its own team, from raw land development to tenancy agreement negotiations and property maintenance. This way Toivo is able to generate additional value to its customers, shareholders and stakeholders.

Toivo’s strategy is to develop properties in accordance with the Toivo concept. The properties aim for a strong development margin and a stable and attractive return, and in this way enable long-term ownership and the generation of higher additional value to Toivo’s customers. Toivo has a knowledgeable and experienced team of experts with strong merits in the real estate business. The members of Toivo’s team have been involved in the development and construction of over 17,000 apartments, and they have an average of ten years of experience in the real estate business.

Toivo’s revenue in 2023 was EUR 43,7 million and its operating profit was EUR -0,3 million.