SATO to have 57 new homes built on Helsinki’s Sompasaari island

14 January 2020

**One of Finland's leading rental housing providers, SATO is having new privately financed rental homes and owner-occupied homes constructed on a seafront site with good access to transport and services. Construction begins this year and the homes will be ready for moving into in November 2021. **

SATO signed a contract with Peab Oy on the construction of Asunto Oy Sompasaaren Priki housing company on 13 January 2020. To be built on a site owned by the company, the property will have 57 apartments, of which 41 will be rental homes and 16 will be sold. 

The construction of the Kalasatama district now continues in the Sompasaari area and also on the other side of Itäväylä road in Verkkosaari.  Soon to provide homes for 3,000 people, the construction of the seaside residential area on Sompasaari island is well underway in response to major demand for apartments with good access to transport connections and services and close to Helsinki's city centre.

“We believe there’s demand for modern homes by the sea,” says SATO Executive Vice President for Investments Antti Aarnio.

The construction of the Sompasaaren Priki property begins in January 2020 and residents will be able to move into their new homes in November 2021.

Sompasaari is an island that will be surrounded by canals in the south and north and by the sea on the eastern, southern and western sides. The area has great public transport connections: The Kalasatama metro station and bus links are within walking distance from the Sompasaari area. Once completed, the coming tram line to Pasila and the tram services to Hakaniemi and Laajasalo via the new bridge connections will improve the area’s transport connections even further. 

For more information please contact: SATO Corporation, Antti Aarnio, Executive Vice President, Investments, phone: +358 40 164 7052,

SATO is one of Finland's leading rental housing providers. SATO aims to offer a comprehensive choice of rental housing and an excellent customer experience. At year-end 2018 SATO owned around 25,900 apartments in Finland's largest growth centres and in St. Petersburg.

We promote sustainable development and initiative through our operations and work in open interaction with our stakeholders to generate added value. We operate profitably and with a long-term view. We increase the value of our housing stock through investments, divestments and repairs.

The SATO Group's net sales in 2018 were EUR 290 million, operating profit EUR 273 million and profit before taxes EUR 231 million. The value of SATO's investment properties was roughly EUR 3.9 billion.