Elo to have more than 200 new rental apartments constructed in Tampere, Finland

The apartment buildings to be constructed are part of Elo’s investment programme into residential investments. The programme is aimed at investing in more than 1,000 new rental apartments, focusing on the Greater Helsinki area and Tampere. Elo’s new residential investments consist mainly of new buildings, but the company is also continuously mapping investment possibilities into finished apartment buildings.

“The properties will be built in great locations in areas that have developed from industrial districts into urban residential areas near Lake Näsijärvi and Lake Pyhäjärvi. The areas offer good services, and, in the near future, their public transport connections will also develop,” says Antti Pyötsiä, Project Manager, Elo.

Elo’s real estate investments are valued at approximately EUR 3.3 billion. Elo’s investment assets altogether are valued at approximately EUR 25 billion.

“We have developed the district of Härmälänranta on the long-term with the city of Tampere and the municipality of Pirkkala. The philosophy of pleasant living has guided the design process of the area. It has also been important that the area is a pioneer in environmentally efficient solutions, which is apparent in the design of the properties already at an early stage,” says Toni Tuomola, District Manager, Skanska.

“We want to thank Elo for the good and long cooperation with projects. The Niemenranta properties are located in the heart of the district in a family-friendly, sought-after spot. The Tampere Tramway runs right by the properly, creating excellent public transport connections. The area is also known for its great possibilities for outdoor activities and its good local services,” says Sami Viitanen, Vice President, Housing, Tampere, Housing Finland and CEE -segment, YIT Finland Ltd.

The returns of residential investments have been steady, and the impact of fluctuations in economic cycles is usually more moderate compared to other real estate investments. The demand for rental apartments has stayed strong despite the coronavirus pandemic and economic uncertainties.

“Residential investments have an important role in the diversification of the real estate investment portfolio. In addition to being a steady investment, investing into rental apartments supports the construction sector and the development of housing on offer in growth centres,” says Kimmo Kuoppa, Portfolio Manager, Elo.

More information:
Antti Pyötsiä, Project Manager, tel. +35840 040 7626
Kimmo Kuoppa, Portfolio Manager, tel. +35840 193 1036
Kristiina Nieminen, Communications Manager, tel. +35840 586 8778, kristiina.nieminen@elo.fi