Lemminkäinen to build residential building for VVO in Aurinkolahti, Helsinki

LEMMINKÄINEN CORPORATION       PRESS RELEASE       30 APRIL 2013 AT 9.00 A.M.

LEMMINKÄINEN TO BUILD RESIDENTIAL BUILDING FOR VVO IN AURINKOLAHTI, HELSINKI

Lemminkäinen will build a residential building in Kahvikortteli, an area comprising several blocks in Aurinkolahti, in the Vuosaari district of Helsinki. The contract was commissioned by VVO. Already under way, construction is scheduled for completion in August 2014. The contract parties have agreed not to disclose the contract price.

The building, As Oy Helsingin Paahtaja, will accommodate 52 apartments and a 37-car garage. The building will have a combined floor space of 2,922 m². 

"Once As Oy Helsingin Paahtaja is completed, the first block in the Kahvikortteli area will be finished. We will continue the construction of the Kahvikortteli area, and the planning process for the second block is already far advanced. The attractiveness of the Aurinkolahti area is enhanced by excellent outdoor recreation and pastime opportunities, as well as the metro connection to central Helsinki," comments Sami Somero, Director at Lemminkäinen.

"We are actively seeking to grow the housing stock in the Helsinki Metropolitan Area, particularly in Helsinki. The building under construction perfectly fulfils the criteria set by VVO for new buildings and will form a wonderful addition to Helsinki's housing stock", explains VVO's Business Director Eero Saastamoinen.

As Oy Helsingin Paahtaja is the fourth housing co-operative built by Lemminkäinen in the Kahvikortteli area. Lemminkäinen will build a total of 19 housing co-operatives in Kahvikortteli's four residential blocks.

LEMMINKÄINEN CORPORATION
Corporate Communications

ADDITIONAL INFORMATION:

Sami Somero
Director, residential construction Helsinki area
Building Construction
Tel. +358 2071 54083
sami.somero@lemminkainen.com

Eero Saastamoinen
Business Director, Real Estate
VVO-group plc
Tel. +358 20508 3248
eero.saastamoinen@vvo.fi

DISTRIBUTION:
Key media
www.lemminkainen.com
www.vvo.fi

Lemminkäinen Group operates in all areas of the construction sector. The Group's business segments are building construction, infrastructure construction, technical building services and international operations. Net sales in 2012 were about EUR 2.3 billion, of which international operations accounted for roughly 40 per cent. The Group employs 8,200 people on average. Lemminkäinen Corporation's share is quoted on NASDAQ OMX Nordic Exchange Helsinki. www.lemminkainen.com

VVO is Finland's largest rental housing company, owning approximately 40,000 rental apartments in 45 municipalities. About half of our apartments are privately financed and half are state-subsidised. VVO was established in 1969. Today, VVO is a public limited liability company whose principal shareholders are pension insurance companies and trade unions. In 2012, the VVO-group had a turnover of EUR 335.4 million and declared a profit before taxes of EUR 70.3 million. Our goal is to offer our residents safe and better housing. Our strategy is founded on a customer-oriented approach and continuous improvement. We have made the choice of providing rental housing and building management services ourselves, with our own personnel, in close contact with customers. Our vision is that by 2020 we will be the most significant and valued housing services company in Finland.