A vibrant city needs enough homes. The volume and quality of housing supply have a significant effect on urban development and Finland’s competitiveness. Investments in homes and infrastructure are needed. SATO aims to develop an even more diverse range of homes for its existing and future customers.
We invest in new rental apartments, renovate existing homes and sell apartments in areas where the demand does not meet our goals. We take our customers’ wishes into account by investing in the Helsinki metropolitan area, Tampere and Turku, the main focus areas for internal migration. We cooperate closely with cities in planning and complementary construction projects.
“The best things about my home in Jätkäsaari are its good location and excellent connections. I also love that it’s located so near to the city centre.”
–SATO Pulssi panelist
In autumn 2017, SATO acquired 150 rental apartments in Espoo, Vantaa and Turku from Veritas Pension Insurance. We met our new residents in the spirit of our Customer First principle and introduced them to the service manager of their building.
Service managers get to know the residents, who can discuss everything related to housing with their service manager.
In the reporting year 232 new SATO RentHomes were completed in Niittykumpu in Espoo. The West Metro, which started operation late in the autumn, takes residents to Matinkylä in one minute and to the centre of Tapiola in two minutes.
We will continue to design the final building to be constructed at Laivalahdenkaari 1 in Herttoniemenranta, based on an invitational design contest held in 2016. With the investment decision made in 2017, a total of 143 rental apartments will be completed in the building in 2019, along with parking facilities, a grocery store and compact commercial premises. The local metro station is less than 500 metres from Laivalahdenkaari.
In 2017, as a result of our comprehensive long-term plan development work with the city of Vantaa, we started the construction of 288 SATO RentHomes in Raiviosuonmäki and completed 110 rental apartments on Kukinkuja. In November 2017, the first residents of the 68 SATO StudioHomes in Martinlaakso moved in.
Complementary construction plays a key role in providing affordable homes. During the reporting period development plan projects began in Helsinki's suburbs of Oulunkylä, Lauttasaari, Meri-Rastila and Pukinmäki, and also in Kairilankatu in Turku.
Since 2000, SATO has invested a total of EUR 2,863 billion in rental homes. We acquire and construct entire multi-storied buildings and single rental apartments under our ownership.
We sell apartments that do not correspond to our strategy over the long term. The apartments to be sold are mainly selected based on their location, size or condition. During the review period, our divestments stood at around EUR 46.2 million.
|Housing investments, MEUR||156.0||572.6|
|Acquisition of existing stock, units||167||2,679|
|New apartments, units||856||701|
|Investment commitments on 31 December, MEUR||54.9||121.2|
|Rental apartments under construction on 31 December, units||1,036||1,232|
|Divestments of apartments, units||294||1,267|
|Divestments of apartments, MEUR||46.2||66.5|
We prepare an investment sustainability evaluation before trading. The evaluation focuses on the fulfilment of financial criteria, the environmental impact of the investment, transport connections and the execution of the procurement process in accordance with good corporate governance, among other aspects.
By investing close to public transportation routes, we can reduce our environmental load and that of our customers.
Katri Korhonen lives in a SATO building in the Sörnäinen district of Helsinki. For her, digital services are a natural part of daily life.
SATO is encouraging its residents to use their windows to create lit speech bubbles containing messages to their neighbours. At the same time, SATO challenges the entire city to participate...