SRV began the construction of over 1,200 housing units in

New Post Public Reply Private Reply Replies (0) Message Board
News Desk 2018
SRV began the construction of over 1,200 housing units in early 2015

Espoo, Finland, 2015-06-09 10:45 CEST (GLOBE NEWSWIRE) -- SRV GROUP PLC     PRESS RELEASE     9 JUNE 2015 at 11.45 AM

SRV began the construction of over 1,200 housing units in early 2015

SRV's housing construction gained excellent momentum in early 2015. By the beginning of June, the company had begun the construction of over 1,200 housing units and is expecting to roll out more projects towards the end of the year.

In early 2015, SRV began the construction of over 630 developer contracting housing projects. In addition, the company has agreed with various residential property investors on the construction of more than 270 housing units and has signed negotiated contracts for the building of more than 300 housing units. All of the properties are situated in prime locations with good public transport connections. SRV decided on these construction start-ups on the basis of successful advance marketing.

”The housing market has been flat for some time, although we are now beginning to see signs of a recovery in consumer confidence. Meanwhile, factors such as low interest rates are increasing demand for mortgages. In the last few years, we have systematically strengthened our housing production and will continue to focus on Finland's growth centres, particularly on developer-contracted projects in downtown areas and on small apartments”, says Antero Nuutinen, Vice President, Housing at SRV.

SRV's major developer-contracted housing projects are located in the Helsinki Metropolitan Area, the largest of these being the 200 housing units under construction in the Niittykumpu metro centre in Espoo, the 91-unit HITAS project in the Jätkäsaari district of Helsinki and the 85-unit project in the Tapiola district of Espoo. Furthermore, SRV has begun the construction of 60 housing units in Lapintie close to downtown Tampere and 42 units in downtown Kaarina.

In addition to these, SRV has signed preliminary contracts with LocalTapiola Asset Management Ltd on the construction of 150 market-financed rental housing units in the Tikkurila district of Vantaa and the Saunalahti district of Espoo. SRV has also concluded a preliminary contract with employment pension company Elo for the construction of 89 market-financed rental housing units in the Tikkurila district of Vantaa. SRV has agreed on the construction of 37 rental housing units in the Atala district of Tampere with Tampereen Vuokratalosäätiö VTS. The company has also initiated negotiated contracts with Varma and Sato in Niittykumpu and with Sato in Töölö.

On the basis of these more than 1,200 housing units, SRV estimates that it will achieve a total revenue of EUR 300 million. The revenue and financial results in relation to developer contracted residential units are recognised as income at the time of completion on the basis of the percentage of sale. The revenue and financial result for investor sales and negotiated contracts are recognised as income as construction progresses.

Further information: Antero Nuutinen, Vice President, Housing, tel. +358 40 531 4918 Päivi Kauhanen, Vice President, Communications, tel. +358 50 598 9560

www.srv.fi

Scroll down for more posts ▼

Top 10 Most Recent News Articles

Innovent's Seven Drugs Leap onto 2026 Reimbursement Chart

Updated Category News Views 223

A Bold Move in Biopharmaceuticals Innovent Biologics just pulled a rabbit out of their hat. Seven of their cutting-edge meds made it onto China's National Reimbursement Drug List for 2026. This isn't just a spreadsheet entry—it's a lifeline thrown to patients across the oncology, metabolic, and autoimmune landscapes, as well as a financial booster for Innovent (HKEX:...

Continue Reading
PASCAL's Holiday Gift Edit: Timeless Watches Shine

Updated Category News Views 138

Fresh Sparkle for the Holidays Well, here we are again, staring down the barrel of another holiday season. And what do you know, PASCAL is out with its 2026 Holiday Gift Edit, like clockwork. This is the kind of stuff they’re good at—capturing a moment, slapping some color on it, and calling it a game-changer. Launching on November 14, this edit nods to their Timeless...

Continue Reading
Manhattan Associates Faces Investigation by KSF Law Firm

Updated Category News Views 203

KSF Digs Into Manhattan Associates' Claims In the swirl of the financial world, you rarely see an investigation that doesn’t raise a few eyebrows. This time, it's Manhattan Associates, Inc. (NasdaqGS: MANH) squarely in the crosshairs of Kahn Swick & Foti, LLC (KSF), a pivotal player in securities litigation. You’ve got to wonder what dirt might be uncovered here,...

Continue Reading
Novo's Research Unlocks New Insights into Food Noise

Updated Category News Views 197

Unpacking the Science Behind Food Noise When folks think about losing weight, most picture shedding pounds and fitting into those elusive smaller jeans. But get this—there’s a curveball called ‘food noise’ that’s making waves in obesity treatment. Novo Nordisk’s semaglutide injections are shaking things up, cutting down on those persistent thoughts about food....

Continue Reading
ManuTech Center Set to Revolutionize Manufacturing Hub

Updated Category News Views 159

Jackson's Next Manufacturing Frontier Well, the folks down in Jackson, Michigan, are prepping to cut the red ribbon on something that's got me leaning forward in my seat. The Advanced Manufacturing Training Center (AMTC) is pulling out all the stops with their new ManuTech Prototyping Center. Yup, this center is about to become the playground for startups, manufacturers,...

Continue Reading
IEHP's Wellness Center Launch Faces Delay in California

Updated Category News Views 104

Unexpected Delay for IEHP's Community Hub Straight outta Rancho Cucamonga, we've got some news that'll have folks in San Bernardino holding their breath a little longer. The Inland Empire Health Plan (or IEHP if you're part of the 1.4 million served by them) had folks pumped for their new Community Wellness Center. But guess what? They had to slam the brakes on the grand...

Continue Reading
Dana Concludes Tender Offers for Senior Notes

Updated Category News Views 151

An Investor's Glance at Dana's Strategic Moves Dana Incorporated (NYSE: DAN) just pulled a bold move with their tender offers, snapping up a hefty $357,873,000 in outstanding principal on their senior notes. This isn’t just pocket change; folks holding out for securities can feel the tension of watching big numbers get shuffled around. You gotta wonder, what's the play...

Continue Reading
Greenberg Traurig's Brad Kaufman: A Mentor of Resolute Impact

Updated Category News Views 267

A Milestone for Mentorship at Greenberg Traurig In the often cutthroat jungle of law, finding someone who actually gives a damn about you is as rare as finding a unicorn. Yet, there it is—Brad Kaufman, at the helm of Greenberg Traurig's professional development, proving that mentorship can be more than just a checkbox on a quarterly review. Award for Exceptional...

Continue Reading
HiTHIUM Joins Cambridge to Boost Global Energy Storage

Updated Category News Views 288

HiTHIUM and Cambridge's New Energy Venture There's a big splash coming out of Xiamen, folks. HiTHIUM, a heavyweight in the energy storage sector, has decided to team up with the University of Cambridge. They inked a deal aiming to bridge the academic ivory tower with industrial grit, focusing on long-duration energy storage. It was all sealed during the Global Energy...

Continue Reading
MV Transportation Celebrates Leadership Nomination for FTA

Updated Category News Views 150

MV Throws Support Behind Aesch for FTA Role In this wild world where public transit feels the heat from financial burdens, MV Transportation's recent move to support Mark Aesch for the Federal Transit Administration's top spot isn’t just a nod of approval—it's a full-blown trumpet blast. They're not just doling out a basic endorsement here; they're practically waving...

Continue Reading

Top 5 Most Recently Viewed Articles

Join the Semtech Corporation Class Action for Investor Rights

Updated Category News Views 187

Understand the Semtech Corporation Class Action Lawsuit Investors in Semtech Corporation, a well-known player in the semiconductor industry, are now being notified of a class action lawsuit. This legal matter aims to seek justice for those adversely affected by alleged securities fraud. The law firm Levi & Korsinsky, LLP is leading this initiative, reaching out to...

Continue Reading
Gary P. Gilroy Receives Prestigious Music Award in 2025

Updated Category News Views 155

Celebrating a Music Education Legend In an exciting development for music education, Gary P. Gilroy, a distinguished Professor of Music Emeritus and Director of Bands Emeritus at California State University, Fresno, has been recognized for his outstanding contributions in this field. He was recently awarded the prestigious George N. Parks Award for Leadership in Music...

Continue Reading
Tech CEO Advocates for Honest Conversations on AI Job Impact

Updated Category News Views 159

Embracing AI Transparency in the Workplace As technology continues to progress rapidly, it's crucial for leaders to prioritize clear communication about how artificial intelligence is affecting the job market. Recently, Jim Kavanaugh, the CEO of World Wide Technology, highlighted that employees are smart enough to see through any misleading narratives surrounding AI's...

Continue Reading
Innocan Pharma Expands Patent Reach in Asian Markets for CBD

Updated Category News Views 175

Innocan Pharma's Expansion in Asian Markets Innocan Pharma Corporation, a key player in the pharmaceutical and biotechnology arenas, has taken significant strides in its efforts to expand its intellectual property coverage for its innovative liposomal CBD injection. This strategic development focuses on the expansive Asian pharmaceutical market, particularly highlighting...

Continue Reading
CYFOX Unveils Innovative Email Security for Microsoft 365

Updated Category News Views 281

CYFOX Introduces Groundbreaking Email Security Solution CYFOX, a forward-thinking cybersecurity company, has recently launched an advanced email security solution that integrates seamlessly with Microsoft 365. This innovative framework eliminates the hassle of MX record adjustments and domain-level alterations, making it easier for organizations to enhance their email...

Continue Reading