PRESS RELEASE 20.12.2007
SIGNIFICANT REAL ESTATE DEAL FOR LEMMINKÄINEN
Rakennustoimisto Palmberg Oy, Lemminkäinen Group's regional subsidiary based in
the city of Tampere, has sold the Elovainio shopping centre under construction
in Ylöjärvi to the real estate investment company Sponda Plc. The selling price
is EUR 62 million. Rakennustoimisto Palmberg Oy is responsible for building the
shopping centre and has arranged its financing during the construction phase.
The Elovainio shopping centre is located at the junction of the Tampere's
southern bypass and the main road to Vaasa. It will be completed in spring 2009.
The building will have approx. 24,500 square metres of leased floor area and
parking spaces for 850 cars. The property has been sold fully leased and its
principal tenant will be K-Citymarket. Altogether there will be over 50
specialist retail stores as tenants of the building.
Managing Director Jukka Terhonen
Rakennustoimisto Palmberg Oy
Tel. +358 400 500 597
Rakennustoimisto Palmberg Oy, a subsidiary of Lemminkäinen Group, is a building
contractor that operates in the city of Tampere and the surrounding areas of
central southern Finland. The company's new building and refurbishment
contracting includes competitive tender contracting as well as residential,
commercial and industrial developments. In 2006 the company generated net sales
of approx. EUR 70.1 million and employed an average of 255 people.
Lemminkäinen Group operates in all areas of the construction sector. Its main
business areas are building construction, infrastructure construction, technical
building services and building products. Net sales in 2006 were EUR 1.8 billion,
of which international operations accounted for about a third. The Group employs
some 9,000 people. Lemminkäinen Corporation's share is listed on Helsinki Stock