Lemminkäinen sells apartments to SATO from its Tapiola project in St. Petersburg
LEMMINKÄINEN CORPORATION INVESTOR NEWS 7 AUGUST 2013 AT 10:30 A.M.
LEMMINKÄINEN SELLS APARTMENTS TO SATO FROM ITS TAPIOLA PROJECT IN ST. PETERSBURG
Lemminkäinen sells a staircase unit comprising 63 apartments and 35 parking spaces from the Tapiola project in St. Petersburg which started up in June to SATO. The total value of the deal is approximately EUR 17 million. The average floor area of the sold apartments is 77 square metres.
The Comfort Business-class Tapiola is located in central St. Petersburg by the Obvodny canal close to Moskovsky Prospekt, and it will comprise 757 apartments. The entire project will be completed by the end of 2015.
Tapiola is Lemminkäinen's residential development and construction project, in which Lemminkäinen is responsible for the design, construction and sales. This project comprises a total apartment floor area of approximately 52,000 square metres. In addition, the plot will accommodate approximately 4,000 square metres of office and commercial premises, which will be sold separately, as well as 360 parking spaces. The project also includes a kindergarten.
Henrik Eklund, Executive Vice President, International Operations
Tel. +358 2071 53313
Juha Höyhtyä, Senior Vice President
International Operations business segment
Tel. +358 2071 53620
NASDAQ OMX Helsinki
Lemminkäinen Group operates in all areas of the construction sector. The Group's business segments are building construction, infrastructure construction, technical building services and international operations. Net sales in 2012 were about EUR 2.3 billion, of which international operations accounted for roughly 40 per cent. The Group employs an average of 8,200 people. Lemminkäinen Corporation's share is quoted on NASDAQ OMX Nordic Exchange Helsinki Ltd. www.lemminkainen.com