(Información remitida por la empresa firmante)
This year has been challenging for the construction market especially in terms of residential construction, and as we expected, the estimates of new residential start-ups have decreased significantly as the year has progressed. Next year, fewer apartments will be completed, and the continued urbanisation and shrinking housing supply will have a positive impact on the rental market situation. The shrinking supply and increased maintenance and financing costs will likely be reflected in the market in the form of more strongly rising rents in 2024. We still had 1,152 apartments under construction at the end of the review period. Most of these apartments will be completed in 2023.
I believe that, in a challenging financial market situation, we can ensure a strong position along with our ability to build future growth through active and proactive action once the market situation becomes more favourable again.
Jani Nieminen
CEO
News conference as a webcast
Kojamo will hold a news conference for institutional investors, analysts and media on 17 August 2023 at 10.00 a.m. EEST at the company’s head office at Mannerheimintie 168A, Helsinki. The event will be held in English. After the event, the media has a possibility to ask questions also in Finnish.
The event can also be followed as a live webcast through which it is possible to ask questions. No registration for the webcast in advance is needed. The event will be accessible at https://kojamo.videosync.fi/q2-2023.
A recording of the webcast will be available later on the com-pany website at https://kojamo.fi/en/investors/releases-and-publications/financial-reports/.
For more information, please contact:
Niina Saarto, Director, Treasury & Investor Relations, Kojamo plc, tel. +358 20 508 3283, niina.saarto@kojamo.fi
Erik Hjelt, CFO, Kojamo plc, tel. +358 20 508 3225, erik.hjelt@kojamo.fi
Distribution:
Nasdaq Helsinki, Irish Stock Exchange, key media
Kojamo is Finland’s largest private residential real estate company and one of the biggest investors in Finland. Our mission is to create better urban housing. Lumo offers environmentally friendly housing and services for the city dweller who appreciates quality and effortlessness. We actively develop the value of our investment properties by developing new properties and our existing property portfolio. We want to be the property market frontrunner and the number one choice for our customers. Kojamo’s shares are listed on the official list of Nasdaq Helsinki. For more information, please visit https://kojamo.fi/en/
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