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SATO sells 268 homes to Municipal Housing Ltd (KAS)

Dec 9, 2015

The company continues investing in growth centres

SATO Corporation, one of Finland’s leading rental housing providers, has sold 268 State-subsidised (ARAVA) rental homes to Kunta-aravat Oy of Municipal Housing Ltd (KAS) today. The homes are located in Lohja, Jyväskylä, Oulu and Rovaniemi, Finland. The selling price was verified by the authorities.

SATO aims to increase the supply of rental apartments in the areas where the biggest demand exists – our focus is on the Helsinki Metropolitan Area.

Vice President Tuula Entelä from SATO:

- The demand for rental apartments continues to increase, and we refine our actions accordingly. We invest strongly on rental homes, approximately 200 million euros yearly, and the majority of those apartments are newly built. The majority of our rental apartments are located in the Helsinki Metropolitan Area.

- We carry out divestments on apartments that, in the long run, do not match the demand of rental homes on the areas we have chosen to operate in. The important thing for us is that the residents can continue their tenancies with a good new landlord.

For more information, please contact:

SATO Corporation
Tuula Entelä, Vice President, Helsinki Region and St Petersburg
p. +358 201 34 4007 and +358 400 612 914
Antti Aarnio, Director, Investments and Divestments
p. +358 201 34 4200 and +358 40 164 7052