Business operations

Under the Lumo and VVO brands, VVO Group Plc offers versatile and effortless rental solutions coupled with an extensive range of housing services for different life situations.

The fair value of VVO Group’s investment properties at the end of the review period was EUR 3.7 (3.8) billion, including EUR 183.2 million classified into non-current assets held for sale. At the end of the review period, VVO Group owned 37,293 (40,760) rental apartments, including investment properties classified as held for sale.

The rental housing business is characterised by stability and predictability, which provide a good foundation for development. The nature of our business, our solid financial position, and our good financial performance enable us to make investments in different kinds of economic situations.

The details related to the selling of 8,631 of VVO Group’s cost principle apartments have been further specified. The apartments are sold with a so-called direct property transaction to Kiinteistö Oy Y-Asunnot, which is part of the Y-Foundation group. The sales price is the transfer price confirmed by the Housing Finance and Development Centre of Finland (ARA), determined by ARA in phases. For the first phase, the transaction was executed on 31 March 2016 and the transfer price has now been de-termined. The determination of the transfer price for the remaining phase is estimated to be completed in the near future.

 

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