Press release, 3 June 2024 at 12:00

Toivo Group Plc has started a project management contract worth EUR 8.7 million in Tampere's Ojala district. The terraced house project consists of 34 wood-built homes. We announced the signing of the project agreement in a press release on 8 December 2023.

"The project was developed in good cooperation with the authorities of the City of Tampere, resulting in a well-functioning overall plan. The terraced house project received praise during the review by the City of Tampere's quality group, which meant that the building permit process was also straightforward. Work at the construction site has got off to a flying start. Extensive excavation work is already under way, and we will begin work on the foundations of the first buildings at the beginning of July. Our goal is to have the frames of the buildings up and the roofs in place before next winter," says Markus Pulkkinen, Director of Production at Toivo Group.

The project will be completed and handed over to the client in August 2025.

Toivo Group Plc

Further information
Markus Myllymäki
CEO
Toivo Group Plc
Tel. +358 40 847 6206
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 the 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 ensures that Toivo is able to generate additional value for 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, which enable long-term ownership and the generation of higher additional value for 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.