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Sponda sold land areas in Helsinki Metropolitan Area

Sponda Plc     Stock Exchange Release         10 February 2016 at 1:40 pm

Sponda sold land areas in Helsinki Metropolitan Area

Property investment company Sponda Plc has sold land areas in the Vermo district of Espoo, to Etera Mutual Personal Insurance Company and Suomen Asunnot ja Tontit I Ky. NCC Construction Ltd, Housing owns the housing construction rights for the area.

Suomen Asunnot ja Tontit I Ky invests in residential plots and housing in Finland. The associates of Suomen Asunnot ja Tontit I Ky are Finnish institutions HYPO (Mortgage Society of Finland), Pension Foundation of Orion, Pension Fund of Valio, Seafarer’s Pension Fund, Pension Foundation of YLE (Finnish Broadcasting Company), Pharmacy Pension Fund Finland, Finnish Construction Trade Union, Pension Fund Verso and Veritas Pension Insurance.

The purchase price was about EUR 23.2 million, and Sponda will record a profit of approximately EUR 11.2 million from the transaction.

In this transaction Sponda has sold land areas that are planned for use in housing production and therefore do not fit in with Sponda’s strategy. In accordance with the company’s strategy, Sponda focuses on owning office and retail properties.

Sponda Plc

Additional information:
Kari Inkinen, President and CEO, tel. +358 400 402 653

Sponda Plc is a property investment company specializing in commercial properties in the largest cities in Finland. Sponda’s business concept is to own, lease and develop retail and office properties and shopping centres into environments that promote the business success of its clients. The fair value of Sponda’s investment properties is approximately EUR 3.1 billion and the leasable area is around 1.1 million m².