Helsinki, Finland, 2016-02-17 14:45 CET (GLOBE NEWSWIRE) -- SATO Corporation, Press Release, 17th February 2016 at 3:45 pm
135 new SATO RentHomes will soon be available in one of the last undeveloped areas of Helsinki’s seafront district of Herttoniemenranta. Fresh and exciting plans for the set of residential blocks in Laivalahdenkaari 1 were sought on the basis of an architectural design competition. Based on invitations, the competition was won by the architectural firm Arkkitehdit Soini ja Horto Oy (AS&H) with its entry called ‘Kutteri’ (‘Cutter’).
Land Acquisition Manager Maarit Tuomainen from SATO:
- SATO and the City of Helsinki wanted to find a design plan for the sites and the park between them that is of high architectural standard and inspiring for the residents. The winning entry by AS&H is fresh and modern: it fits effortlessly into its environment yet at the same time draws positive attention.
- Herttoniemenranta is a fantastic location for the residents. Located within walking distance from the metro, these rental homes are sought-after and much-liked and therefore are an excellent match to the SATO housing portfolio. The new homes will also be help respond to housing demand in terms of their size: the majority of the apartments will be studios and 1 bedroom SATO RentHomes.
The construction of the Laivalahdenkaari 1 block is due to begin before the end of 2016 and the rental homes are estimated to be completed in early 2018. The block will also house a business space for a grocery store of Suomen Lähikauppa Oy.
For more information please contact:
SATO Corporation
Maarit Tuomainen, Land Acquisition Manager, p. +358 201 34 4402 or +358 40 757 8868
Antti Aarnio, Director, p. +358 201 34 4200 or +358 40 164 7052
SATO is one of Finland's leading rental housing providers. SATO’s aim is to offer comprehensive alternatives in rental housing and an excellent customer experience. All told, SATO holds roughly 23,600 rental homes in Finland’s largest growth centres and in St Petersburg.
In our operations, we promote sustainable development and initiative-taking, and work in open interaction with our stakeholders to create added value. We operate profitably and with a long-term view. We increase the value of our housing property through investments, divestments and repair work.
SATO Group's net sales in 2015 were €323.4 million, operating profit €196.5 million and profit before taxes €159.4 million. SATO's investment properties have a value of roughly €2.8 billion.
