finance

A-Kruunu is expanding its operations

A-Kruunu Ltd aims to increase the production of affordable rental housing so that during 2021 the company initiates construction of around 800 homes. The majority of homes will be built in the Helsinki region, with the rest being built in other large urban regions. Production of wooden apartment blocks will also be increased. A total of 1372 homes were either in the planning or construction phase. The Annual General Meeting confirmed yesterday the financial statements of A-Kruunu and selected the members of the Board of Directors, the Chairman and the Deputy Chairman.

Last year, A-Kruunu started building 481 homes and completed 296. At the end of the year, A-Kruunu was in possession of 793 complete homes.

‘Last year, we moved several projects into the construction phase, including the Urban Families with Children concept project in the Kalasatama region of Helsinki. Of the completed projects, the wooden apartment buildings built in the Kuninkaantammi district of Helsinki are worthy of note, as they are part of a comparative study of wood and concrete construction,’ says Managing Director Jari Mäkimattila.

In terms of the future of the company's operations, Mäkimattila considers it important that Parliament would approve the additional capitalisation of the company. This would enable increased production of affordable rental housing and broaden the company’s operating area. With the increased capitalisation, A-Kruunu could participate significantly in the development of larger residential areas, the promotion of timber construction and the development of high-quality urban housing.

‘There is clear demand for the homes we produce. There were hundreds of applicants for the completed residential locations, with people appreciating both the good location and the affordability of the rental homes,’ says Mäkimattila.

Last year, the average rent for A-Kruunu homes was €11.60 per square metre. The economic utilisation rate at the turn of the year was 99.6% and resident turnover was approximately 13%.

‘As the population grows, the development of customer service is increasingly important. During the year under review, we created a new model that combines the functions of property management and housing rental. Its objective is to improve the service experienced by residents, to strengthen the company's role towards partners and to develop property management and rental operations side-by-side in accordance with the company's own needs,’ says Mäkimattila.

The Annual General Meeting elected Matti Vatilo as Chairman of the Board. Hannu Puttonen left the Board of Directors after having successfully chaired the company's operations from its beginnings in 2014. Teppo Salmikivi, Premises Manager at the University of Helsinki, was appointed as a new member of the board. Eero Saastamoinen will continue as Deputy Chairman, and Ari Eschner, Sinikka Mustakari and Jaana Parviainen will continue as board members.

 

This text is based on a bulletin issued on 19 March 2019. 

For more information:

Managing Director Jari Mäkimattila
jari.makimattila@a-kruunu.fi
040 755 3924

A-Kruunu is a special assignment company of the state and an effective and responsible producer and owner of affordable rental housing. The company's objectives are to produce annually around 800 apartments that achieve high levels of resident satisfaction as well as to build wooden apartment blocks and promote housing innovations.