GlobeNewswire by notified

SATO built half of Pihlajamäki 60 years ago and continues to develop the district

Share

SATO Corporation
Press release 29 August 2022 at 2:15 pm


To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.

The Pihlajamäki district in Helsinki was one of the first to apply the ‘neighbourhood construction’ approach where the development of a wider area was entrusted to a single company. It was also a first in Finland for industrial construction methods and a completely prefabricated system. Involved in the creation of this district 60 years ago, rental housing expert SATO continues to play a role in its development.

Located in northern Helsinki, Pihlajamäki is a hidden gem among city districts. A blend of bold, stark architecture and a park-like feel, Pihlajamäki is a district where Finland’s oldest glacial potholes and trenches dating to the times of the Russian czars still stand despite way being made for modern skateboard ramps, too. SATO was responsible for the construction of the lion’s share of the buildings in Pihlajamäki, including its landmark high-rises and the part of the shopping centre that is currently a listed building. Today, SATO still has nearly 250 rental homes in the district.

SATO first to implement a completely prefabricated system

Back in the day, Helsingin Asuntokeskuskunta Haka was responsible for construction in the northeastern section of the district and SATO in the southwestern. Construction in Pihlajamäki started in 1960 with the aim of creating more than 2,000 homes in the district by 1964.

Architect Lauri Silvennoinen, the winner of the architectural design competition organised by SATO, had the ambitious goal of standardising the entire construction process and the development of Pihlajamäki therefore pioneered the use of industrial construction methods.

While the first part of the area developed by SATO was implemented with large shuttering moulds used to cast the building frames on-site, the second stage was the first in Finland with a completely prefabricated system where the buildings were assembled from wholly pre-cast elements. According to the Finnish National Heritage Agency, SATO’s prefab approach, its architecture including its scale and composition as well as the streamlined appearance of the buildings and the efficiencies sought all had major impacts on the future of construction in Finland. Pihlajamäki is indeed considered a watershed for the Finnish construction industry and the design of homes in Finland.

“Even today, we favour prefabricated elements in construction and also use the completely prefabricated system. Prefab elements nowadays are much more adaptable and can be differently shaped for different needs,” says Arto Aalto, SATO Vice President for Investments.

The flexible adaptability of unit layouts in the area have also been beneficial in terms of changes made during the buildings’ lifecycle.

“Frame adaptability allows two adjacent studio units to be later combined into one larger home in the context of modernisation, for example,” Aalto explains.

SATO continues to develop Pihlajamäki

As a responsible rental housing provider, SATO carries out modernisation of its rental homes and buildings in keeping with lifecycle principles.

In 2021, SATO launched the modernisation of 64 homes in Pihlajamäki to markedly improve their energy efficiency and living comfort.

“In modernisations, our goal is to achieve an improvement of around 30% in energy efficiency,” Aalto says.

The building on Graniittitie street that is being modernised will also switch over from district heating to geothermal heating. SATO is also invested in the further development of the prefab construction techniques first introduced in the district.

“Modern prefab elements have a longer useful life, the materials used are more advanced and the range of solutions that can be implemented with prefab elements is much wider. Today, SATO requires all of its building frame elements to have a useful life of 100 years,” Aalto says.

More about Pihlajamäki on our website: Pihlajamäki – 60 years at the mercy of prefab elements


For media enquiries, please contact:


SATO Corporation, Arto Aalto, Vice President, Investments
phone +358 40 513 0702, arto.aalto@sato.fi


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 2021, SATO Group’s net sales totalled EUR 298.3 million, operating profit EUR 304.5 million and profit before taxes EUR 259.4 million. The value of SATO’s investment properties is around EUR 5 billion. www.sato.fi

To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://notified.com

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

Baltic Horizon Fund consolidated audited results for 202329.3.2024 10:35:00 CET | Press release

Management Board of Northern Horizon Capital AS has approved the audited financial results of Baltic Horizon Fund (the Fund) for the year 2023. The financial results remained unchanged compared to the preliminary disclosure on 15 February 2024. Executing our strategy In a challenging economic landscape characterized by inflation, interest rate volatility, and recent geopolitical events, the Fund has assessed various strategic options to navigate these complexities and ensure future growth. Over the past year, our focus has been on reshaping our strategy to foster sustainable value, concentrating efforts on avenues that promise reliable and consistent growth for our investors. In light of prevailing market conditions, we firmly believe that the execution of the ‘Modern City Life’ strategy, introduced to investors in summer 2023, is paramount to their best interests. In the coming years, we expect two thirds of the Fund’s NOI to come from the centrally located ‘Modern City Life’ multi-fu

Progress on ABN AMRO share buyback programme 22 – 28 March 202429.3.2024 08:00:00 CET | Press release

Progress on ABN AMRO share buyback programme 22 – 28 March 2024 ABN AMRO reports the transaction details related to its EUR 500 million share buyback programme announced on 14 February 2024. During the week of 22 March 2024 up to and including 28 March 2024 a total of 3,000,000 shares and depositary receipts were repurchased at an average price of €15.47 for a total amount of €46,409,760.00. For detailed information on the daily repurchased shares and depositary receipts, individual share purchase transactions and weekly reports, see the ABN AMRO website at https://www.abnamro.com/en/investor-relations/information/share-buyback-programme. To date the total consideration for shares and depositary receipts repurchased amounts to €279,519,000.00 representing 55.9% of the overall share buyback programme. ABN AMRO Press Office pressrelations@nl.abnamro.com +31 20 6288900ABN AMRO Investor Relations investorrelations@nl.abnamro.com +31 20 6282282 This press release is published by ABN AMRO Ba

Public announcement in accordance with article 7:97, §4/1 of the Belgian Companies and Associations Code (“BCAC”) concerning a capital increase by contribution in kind29.3.2024 07:00:00 CET | Press release

Press release Brussels, 29 March 2024 Regulated information – Inside information Public announcement in accordance with article 7:97, §4/1 of the Belgian Companies and Associations Code (“BCAC”) concerning a capital increase by contribution in kind On 20 November 2023, Orange Belgium SA (the “Company”) received notification from Nethys SA (“Nethys”) of its wish to contribute its 25% + 1 shareholding in VOO Holding SA (“VOO”) to the capital of the Company, provided that such contribution results in Nethys holding at least 11% of the Company's share capital (after contribution), pursuant to the provisions of the shareholders' agreement entered into by and between the Company, Atlas Services Belgium SA (“ASB”) and Nethys on 2 June 2023. Nethys can be considered a “related” party to the Company within the meaning of the IAS standards, as it has significant influence over VOO within the meaning of IAS and VOO is part of the group to which the Company belongs. Date and value of the planned t

McWhorter Foundation Combats Nelson Peltz’s Outdated Ideologies and Advocates for Sustainable Inclusivity In Corporate Leadership29.3.2024 06:59:56 CET | Press release

PALM BEACH, Calif., March 29, 2024 (GLOBE NEWSWIRE) -- C.K. McWhorter, chairman of the McWhorter Foundation, voices concerns over outdated perspectives in corporate leadership, exemplified by recent remarks from Nelson Peltz regarding Disney's film direction. After encountering instances of racism and exclusivity on Town of Palm Beach Island (known as home to Jeffrey Epstein, Nelson Peltz and others), McWhorter reflects on the disconnect between elite boardroom discussions and the realities faced by diverse communities. While briefly meeting Nelson Peltz and shaking hands after both departed separate lunches, McWhorter initially respected his insights. However, recent comments made by Peltz suggesting Disney should avoid inclusive films have raised eyebrows and prompted McWhorter to speak out. "It's concerning when influential figures like Peltz advocate against inclusivity in entertainment," McWhorter comments. "The future is in diversity and representation, especially as millennial a

Junshi Biosciences Announces 2023 Full Year Financial Results and Provides Corporate Updates29.3.2024 05:24:27 CET | Press release

SHANGHAI, China, March 29, 2024 (GLOBE NEWSWIRE) -- Shanghai Junshi Biosciences Co., Ltd (“Junshi Biosciences,” HKEX: 1877; SSE: 688180), a leading innovation-driven biopharmaceutical company dedicated to the discovery, development, and commercialization of novel therapies, announced its financial results for the full year of 2023 and provided corporate updates. FINANCIAL HIGHLIGHTS Total revenue was approximately RMB1,503 million during 2023. The revenue from pharmaceutical products increased by approximately 58% compared to 2022. The sales revenue of TUOYI® (toripalimab) was approximately RMB919 million, representing an increase of approximately 25% compared to the previous year.Total research and development (“R&D”) expenses were approximately RMB1,937 million in 2023, representing a decrease of approximately 19% compared to 2022. The decrease in R&D expenses was mainly due to the strategic management of R&D investments in certain early-stage pipelines, while optimizing resource all

HiddenA line styled icon from Orion Icon Library.Eye