LEMMINKÄINEN CORPORATION PRESS RELEASE 1 NOVEMBER 2011 AT 11.30 A.M
APPLICATION PERIOD FOR LEMMINKÄINEN’S HITAS APARTMENTS AT JÄTKÄSAARI HAS ENDED
There was a high demand for the residential property Asunto Oy Helsingin Paasiranta’s Hitas (price and quality controlled owner-occupied) apartments planned for construction at Jätkäsaari. 2475 applications were submitted for Paasiranta’s 40 Hitas apartments by the deadline.
The application period for the Hitas apartments commenced on Monday 24 October at 9 a.m. and ended at 4 p.m. yesterday, 31 October. The application process was implemented online at www.lemminkainen.fi/paasiranta, other types of applications were not accepted.
The apartments at Paasiranta will be distributed on the basis of a draw, carried out by a third-party service provider on week 46. The lucky winners will be notified in person by a representative of Lemminkäinen by the end of week 46.
The construction work at Paasiranta has been initiated. The project is estimated to be finished in early 2013. In total, Lemminkäinen will be constructing four residential blocks at the tip of the Saukonpaasi peninsula at Jätkäsaari, Helsinki. Two of the residential buildings are Hitas sites. All 51 apartments of the first building, Saukonranta, have already been sold.
Lemminkäinen observes the City of Helsinki’s rules and regulations on price and quality controlled owner-occupied construction in the sale and marketing of its Hitas apartments.
Lemminkäinen is one of Finland’s largest and most versatile housing constructors. Lemminkäinen estimates that it will start the construction of about 1,200 units in its own housing developments this year.
Arto Jokinen, Vice President
Lemminkäinen Talo Oy
Tel. +358 (0)50 327 4000
Lemminkäinen Group operates in all areas of the construction sector. The Group's business sectors are building construction, infrastructure construction and technical building services. From the beginning of 2012, international operations will become Lemminkäinen’s fourth business sector. Net sales in 2010 were about EUR 2.0 billion, of which international operations accounted for roughly a quarter. The Group employs an average of 8,000 people. Lemminkäinen Corporation's share is quoted on NASDAQ OMX Nordic Exchange Helsinki. www.lemminkainen.com