Espoo, Finland, 2011-11-10 13:18 CET (GLOBE NEWSWIRE) -- SRV GROUP PLC STOCK EXCHANGE RELEASE 10 November 2011, at 14:15
SRV, Asuntosäätiö and SATO have acquired from Sanoma Corporation a significant land area in Keimola, Vantaa in the name of company they have founded together. The land area, zoned mainly for housing construction, is located in the area of the former Keimola motor racing circuit, to the west of the Helsinki-Tampere and near Kivistö motorway junction.
The consortium is acquiring plots whose building rights total over 40,000 m2 of floor area. The intention is to divide the building rights equally between the parties. Value of the transaction is over EUR 10 million.
“With this plan, Vantaa brings into beneficial use the area of the former Keimola motor racing circuit, which has long been open. A diverse range of housing will be built in the Keimolanmäki area. The area is part of a new Marja-Vantaa district,” says SRV’s Director, Project Development Jouko Pöyhönen.
The intention is to build in the area mainly apartment houses, including rental, right-of-occupancy and owner-occupied apartments. In addition, municipal services and business premises will also be built. The plan is to initiate construction with public utility services next year. The first stage of housing construction is planned to begin in 2013. The entire area will be built by 2023.
SRV Group Plc
Taneli Hassinen
Director, Communications and Marketing
Tel. +358 40 504 3321
taneli.hassinen@srv.fi
Further information:
Jouko Pöyhönen, Director, Project Development, tel. +358 405 282 870