SRV Group Plc Ivestor News 3 June 2009 1.00 p.m. EET
SRV Group Plc and Sato Plc have signed an agreement concerning the sale of two
high-rise apartment houses in Valliokallio district in Espoo. The agreement
includes two high-rise apartment houses with 74 apartments. The total floor
area is 4628.5 square metres.
The construction of the first house will start in June, and the second in early
autumn.
There is a third housing company in the same block with two houses, which were
completed in spring.
- In present market situation, the sale of the houses to Sato ensures the
construction of the whole block. Sato will get ownership of top-end rental
apartments in speedy schedule and SRV can release equity, says Juha-Veikko
Nikulainen, Executive Vice President, SRV Housing.
Each apartment has a sauna and glazed balconies. The apartments are the same
standard as privately financed owner-occupied apartments. The enclosed courtyard
is pleasant and auto free. Both houses have parking spaces in the basement.
The finalisation of the transaction requires the consent of The Housing Finance
and Development Centre of Finland (ARA) by using the government 10-year
interest subsidy.
SRV Group Plc
Eero Heliövaara
President and CEO
Further information:
Juha-Veikko Nikulainen, Executive Vice President, Housing, tel. +358 201
455 301
Distribution:
Nasdaq OMX Helsinki
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