- Premico Vuokra-asunnot Oy and Lujatalo have signed an agreement to build 96 affordable rental apartments in the Kivistö area of Vantaa.
- Construction is already underway and the apartments will be completed in late 2019. The rent level will be around 20% below the normal rent level of nonsubsidised rental dwellings.
- Premico Vuokra-asunnot Oy is backed by Premico Asuntorahasto Ky, which is jointly managed by Premico and Auratum Kiinteistöt Oy.
- Premico Vuokra-asunnot Oy aims at building more than 1,000 new affordable rental apartments in Finnish growth centres.
“The lack of affordable rental apartments in Vantaa and the Helsinki region in general is a huge social problem. We see the future of Kivistö as a lively and popular neighbourhood of more than 50,000 residents, and therefore we are extremely happy to be able to build affordable rental apartments in this particular area – and all in the immediate vicinity of the train station, I might add”, says Janne Vaula, CEO of Premico Group Oy.
In 2018, Premico Vuokra-asunnot Oy built 542 affordable rental apartments in Finnish growth centres. In addition, 327 new rental apartments are currently under construction. The goal is to build more than 1,000 new affordable rental apartments by 2020.
“The investors involved in the Premico Asuntorahasto fund include trade unions, private foundations and other institutional investors. They all have a long-term outlook with moderate growth expectations, and one of their most important investment criteria is a desire to assume social responsibility. The lack of affordable rental apartments is seen, among other things, as an obstacle to labour mobility and therefore to economic development”, says Janne Vaula.
Janne Vaula, CEO
Premico Group Oy
tel. +358 40 501 6063