Housing investment company SATO makes new investments in Turku

SATO Corporation has increased its investments in rental homes in Turku, Finland, by around €20 million.

SATO has bought 77 rental homes completed in the 1990s and located in the centre of Turku from the Turku University Foundation and 54 rental homes to be completed in the Länsikeskus area in late summer 2016 from NCC. A further 9 SATO RentHomes were bought in a property to be completed in autumn 2016 in the Kupittaa district.

Following the completion of the investments, SATO will have near to 1,200 rental homes in Turku, with 63 of these under construction.

Matti Keitilä, Director, Turku Region, from SATO:

- Demand for rental homes in Turku has remained at a good level for a long time. Turku is a university city and has an economic structure providing a relatively high rate of employment. The homes bought from the University Foundation are located in the sought-after Tervatori residential area close to the university, while the building acquired from NCC will be constructed less than four kilometres from the centre of Turku in the immediate vicinity of the Länsikeskus shops and services.

- The homes acquired by us now are mainly small apartments and a good match to our customers’ requirements. Small homes are in high demand in all growing cities, including Turku.

Region Manager Marjo Jaakkola from NCC:

- We’re happy about our continued cooperation with SATO. NCC will focus on diverse housing production and good partnerships in the future too.

For more information please contact:

SATO Corporation
Matti Keitilä, Director, Turku Region
phone +358 201 34 4183 or +358 50 559 5318

NCC Housing
Marjo Jaakkola, Region Manager
phone +358 10 507 8890 or +358 50 564 3544

ATTACHMENT:
A photo of a house aqcuired in the Tervatori district