More than 400 new and renovated SATO rental homes coming up next year

SATO Corporation
Press release 30 November 2023 at 10.00

Kiinteistö Oy Tuusulan Pataljoonantie 3–5 will be completed in February 2024.

The new or fully renovated SATO rental homes due for completion in 2024 are located in Tuusula, Espoo and Helsinki. The total number of these rental homes is more than 400.

All of the new rental homes soon to be completed for SATO are located in growth centres with access to good transport connections and services – in areas where there is demand for new homes.

“The new and fully renovated SATO rental homes due for completion in 2024 are quality homes in growth centres. The market situation and cost pressures have resulted in our decision to postpone the launch of new construction projects. Regardless of this, a large number of new and fully renovated properties will be completed for us next year in Tuusula, Espoo and Helsinki. Our eyes are already focused on 2025, and we’re continuously scanning the upcoming market situation and housing demand.

SATO will continue to renovate SATO-owned rental homes and buildings in accordance with the lifecycle principles. This is an essential component of our commitment to providing sustainable and responsible housing,” says Arto Aalto, Executive Vice President, Investments, SATO.

New and renovated rental homes completed in 2024

Hämeentie 40 located in Kallio, Helsinki, is being renovated and the homes will be available to rent in February 2024.

SATO acquires and builds SATO-owned rental homes and participates in cooperation with cities in the development of entire residential areas. SATO is one of Finland’s largest rental housing providers and owns around 25,000 rental homes with good access to public transport and services in the Helsinki Metropolitan Area, Turku and Tampere commuter areas.

Due to the market situation and higher costs, SATO decided in October 2022 that the company will not launch new construction projects for the time being. As a result of this, only 349 newbuild homes will be completed in 2024. The homes are located in the Helsinki Metropolitan Area and Tuusula.

For more information about the new and renovated rental homes coming up, visit: https://www.sato.fi/en/upcoming.

For media enquiries, please contact:

Arto Aalto, Executive Vice President, Investments, SATO Corporation
phone +358 40 513 0702, arto.aalto@sato.fi

For media enquiries contact:

Marjaana Kivioja, Communications Manager, marjaana.kivioja@sato.fi, phone +358 400 773 181

SATO Corporation is an expert in sustainable rental housing and one of Finland’s largest rental housing providers. SATO owns around 25,000 rental homes in the Helsinki Metropolitan Area, Tampere and Turku.

SATO aims to provide an excellent customer experience and a comprehensive range of urban rental housing alternatives with good access to public transport and services. We promote sustainable development and work in open interaction with our stakeholders. SATO invests profitably, sustainably and with a long-term view. We increase the value of our assets through investments, divestments and repairs.

In 2022, SATO Group’s net sales totalled EUR 291.2 million, operating profit EUR 198.9 million and profit before taxes EUR 151.9 million. The value of SATO’s investment properties is around EUR 5 billion. www.sato.fi