Investment and property management

The key roles of this unit are the acquisition of plots and areas of land and the development and planning of new areas.

VVO commissions the construction of rental apartments for its own ownership, for the sale of owner-occupied housing and for property commissioned by external buyers. Key clients are non-profit organisations, institutional investors and municipalities. Approximately 1,000 dwellings are constructed annually, half of which are owner-occupied homes.

The development and construction business operations have been incorporated into VVO Rakennuttaja Oy. The share of VVO Group turnover generated by this unit is 23%.

The aim of VVO is to intensify new production and to ensure construction opportunities through land acquisitions and planning development. These aims are being achieved through cost-effective production methods, observing the principles of sustainable development, and by implementing a systematic land acquisition programme. Models for taking care of partnerships and clients are under constant development.

Example:
Vantaa, Kilterinmäki

Kilterinmäki, an area under development at Myyrmäki in Vantaa, is an example of successfully implemented infill development, in which new construction is being carried out in an old residential area. It is also a good example of interactive regional planning between the municipality and a private developer, also taking account of the needs of future residents. VVO is commissioning about 700 dwellings in the area of Kilterinmäki. Construction work began in autumn 2006, and the area will be completed by 2011. About half of the dwellings will be owner-occupied, and half either privately-financed or subsidised by the Housing Fund of Finland.