VVO Group underwent a major transformation during 2016. The strategic decision to focus, as a housing investment company, on market-based operations and rental housing service design was turned into concrete action in the past review period: the Group made the largest investments in its history and divested non-profit properties subject to long-term restrictions.
The Group’s operational transformation aims to ensure future competitiveness in an environment where Finland is becoming increasingly urbanised, digitalisation is proceeding and people’s housing preferences are developing rapidly. As stated in its mission, the company creates better urban housing. The Group has developed its operations and innovated housing solutions and services, with the aim of generating added value for customers. Significant investments in Lumo apartments and service solutions facilitate employment-based migration in urbanising Finland. In five years, VVO Group has invested nearly EUR 1.5 billion in the Lumo business operations, and in addition to acquisitions, the Group has launched the construction of 3,872 privately financed rental apartments. The Lumo brand has achieved a strong market position, and it already constitutes 90 per cent of the Group’s business. The Lumo online store has revolutionised the customer’s role in renting an apartment.
In line with its strategy, the Group will continue making significant investments both through the development of new properties and through the acquisition of existing properties in the largest growth centres. The company wants to respond to the demand for rental housing, particularly in the Helsinki region, making it easier for people to move around in pursuit of employment in urbanising Finland. By investing in profitable growth, VVO Group is building the future and believes that the Lumo brand and service design will lead the way in the housing sector.
During the strategy period, the company will also divest properties that do not support the Group’s strategy due to their characteristics or location.
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