Media release / 25.9.2020
Kojamo plc: Lumo Kodit to start construction of 116 apartments in Niittykumpu, Espoo
Lumo Kodit Oy and Lehto Asunnot Oy have signed a cooperation agreement on the development of 116 Lumo rental apartments in Espoo’s Niittykumpu district. The agreement is part of a broader agreement between Kojamo and Lehto to develop a total of 11 properties in Espoo’s Nihtisilta, Niittykumpu and Nöykkiönlaakso districts and in Helsinki’s Vartiokylä district. The agreement was announced in a press release on 30 June 2020. Kojamo now has approximately 2,700 apartments under construction.
Espoo’s Niittykatu 8 will consist of three apartment buildings and a parking garage. Niittykumpu has excellent public transport links. The metro and several bus lines connect the district to the rest of Espoo and the Helsinki Metropolitan Area. Residents have access to diverse nature trails and sports right on their doorstep, and the area also features a shopping centre, schools and day care centres. The comprehensive services of Tapiola are a stone’s throw away.
The new apartments include singles, two-room apartments and three-room apartments. Construction is expected to be completed in early autumn 2022.
“We want to provide our residents with the best possible living experience and to develop better urban housing in a sustainable manner. The new apartments will be in an excellent location with good services, outdoor exercise opportunities and accessibility, and they support our efforts towards profitable growth,” says Kojamo’s Chief Investment Officer Ville Raitio.
Kojamo’s strategy is to invest heavily in increasing the housing supply in Finland’s growth centres, where the demand for rental apartments is on the rise due to urbanisation and the increased popularity of rental housing.