LEMMINKÄINEN CORPORATION INVESTOR NEWS 20 SEPTEMBER 2016 AT 2:00 P.M.
LEMMINKÄINEN TO BUILD SIX NEW APARTMENT BLOCKS IN JOENSUU
Lemminkäinen, Joensuun Kodit Oy and Setlementtiasunnot Oy have concluded an agreement for the construction of six new residential blocks in Joensuu, in Eastern Finland. Work is due to begin in the autumn of 2016 and is expected to be completed in May 2018. The contract value is approximately EUR 16 million.
Lemminkäinen will build all six apartment blocks, two of which are developed by Joensuun Kodit Oy and the remaining four by Setlementtiasunnot Oy. The new rental properties will be built in the Penttilänranta area of Joensuu and will comprise a total of 156 individual properties of 28.5–62 square metres.
“Previously an industrial site, Penttilänranta will become Joensuu’s latest area for housing, jobs and leisure enjoying a wonderful central location on Pielisjoki river. It is designed to provide homes for around 4,000 people,” Vesa Vapanen from Joensuun Kodit Oy explained.
“Our rented properties will have a unique community feel throughout, offering multi-generational living in a mixed community. We expect these properties to be particularly attractive to people working in the area as well as students from the local higher education institutions,” Heikki Pekanpalo from Setlementtiasunnot Oy said.
Executive Vice President, Building construction, Finland
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Lemminkäinen is an expert in complex infrastructure construction and building construction in Northern Europe and one of the largest paving companies in its market. Together with our customers and the 4,800 professionals we employ, we build a sustainable society. In 2015, our net sales were EUR 1.9 billion. Lemminkäinen Corporation’s share is quoted on Nasdaq Helsinki Ltd. www.lemminkainen.com