SATO increases supply of rental homes also in municipalities surrounding Helsinki Metropolitan Area
SATO Corporation, Press release, 20 November 2023 at 10:00
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Referred to as the “Järvenpää phenomenon”, municipalities surrounding the Helsinki Metropolitan Area are seeing an influx of people seeking good services and pleasant residential neighbourhoods. SATO is implementing several projects in Järvenpää, Tuusula and Kirkkonummi.
The continued strong urbanisation trend has inspired SATO to invest not only in Helsinki, Espoo and Vantaa but also in surrounding municipalities. When urban regions grow in size and density, some of the growth is also reflected in the satellite municipalities. At SATO, the Helsinki region is seen as a whole, with its essential components also including the surrounding municipalities with their respective centres. Together, the surrounding municipalities comprise a large area with a resident population of more than 350,000. When also including the region’s biggest cities, this coherent travel-to-work area has a population of up to 1,5 million people.
“The strong rate of urbanisation has still continued in Finland, with the trend also showing a strong rise of the so-called Järvenpää phenomenon, which means the surrounding municipalities and especially their urban neighbourhoods have become clearly more attractive,” says SATO Director of Real Estate Development Antti Laine.
Järvenpää is a rapidly growing city where SATO is about to launch two coinciding land use planning projects for complementary construction at SATO-owned properties. In addition to Järvenpää, projects have been completed and are currently under construction also in other surrounding municipalities, such as Kirkkonummi and Tuusula.
“People used to move to surrounding municipalities mainly to live in a detached house, but today also urban housing and rental homes are garnering interest as options. There’s an influx of people into surrounding municipalities, as they’re seeking good services and transport connections,” Laine says.
SATO wants to provide its residents with diverse housing solutions in a variety of residential neighbourhoods.
Land use planning projects in Järvenpää – SATO intends to build more than hundred new rental homes
Until now, there have been clearly fewer SATO apartments in Järvenpää than, for example, in the neighbouring Kerava. SATO has now launched the development projects for two properties creating opportunities to build new homes in existing urban environment.
“In Järvenpää, we have two projects underway in Kartanontie and Tupalantie properties near the centre and the railway station. Through these new projects, we intend to supply around 120–150 new rental homes for the Järvenpää housing market,” Laine says.
The projects are currently in the land use planning process of the City of Järvenpää, the outcome of which will be a final amendment to the local detailed plan. The aim is for the new plan to be in force by the end of 2024.
“After that, we’ll be able to kick off the building planning of the new homes and the actual construction from around 2025 onwards,” Laine says.
First newbuild investment in Tuusula in more than 15 years – New residential districts for Kirkkonummi in cooperation with municipality
SATO has previously only had one residential property with two homes in Tuusula. In spring 2022, however, SATO decided on the construction of a new residential property in Tuusula for the first time in more than 15 years, and the property will be completed in Pataljoonantie street, Hyrylä, in the centre of Tuusula this winter. The property will feature 92 new rental homes that are currently available to rent on the SATO website. The new residents will be able to move into the apartments starting from the beginning of February 2024.
In Kirkkonummi, SATO has developed larger residential areas in cooperation with the municipality. The Sarvvik area is located by Espoonlahti Bay across the bay from Kivenlahti, close to Kivenlahti metro station and Espoo services. The other area developed by SATO is located in Vesitorninmäki, close to the centre of Kirkkonummi, where a new rental housing property with 79 homes was completed in spring 2022.
“Kirkkonummi and its centre in particular is a newer area for us. Although SATO’s already had apartments in Kirkkonummi, we haven’t developed very many newbuild homes there. The previous project before Vesitorninmäki was completed in Sarvvik in autumn 2015,” Laine says.
In addition to projects currently underway in surrounding municipalities, SATO is continuously exploring new development opportunities in municipalities surrounding the Helsinki Metropolitan Area, such as Hyvinkää, Kerava, Sipoo and Porvoo.
Read more about the SATO property in central Tuusula
Read more about SATO homes in Kirkkonummi
For more information please contact:
Antti Laine, Director of Real Estate Development, SATO, email@example.com
For media enquiries contact:
Marjaana Kivioja, Communications Manager, firstname.lastname@example.org, phone +358 400 773 181
SATO Corporation is an expert in sustainable rental housing and one of Finland’s largest rental housing providers. SATO owns around 25,000 rental homes in the Helsinki Metropolitan Area, Tampere and Turku.
SATO aims to provide an excellent customer experience and a comprehensive range of urban rental housing alternatives with good access to public transport and services. We promote sustainable development and work in open interaction with our stakeholders. SATO invests profitably, sustainably and with a long-term view. We increase the value of our assets through investments, divestments and repairs.
In 2022, SATO Group’s net sales totalled EUR 291.2 million, operating profit EUR 198.9 million and profit before taxes EUR 151.9 million. The value of SATO’s investment properties is around EUR 5 billion. www.sato.fi
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