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SATO partners in consortium shortlisted for second phase in Helsinki High-Rise competition 2017-10-05 13:22:01

SATO Corporation, Press release, 5th October 2017 at 1:00 pm

Central Pasila Tower Area design competition excellent step for urban development

The joint proposal of SATO, Skanska and ALA Architects has been shortlisted for the second phase in the Helsinki High-Rise architectural competition. With an emphasis on quality, the purpose of the competition is to find a plan and an executor for the Tower Area of Central Pasila, Helsinki. SATO regards the development of Central Pasila as an important response to Helsinki's urbanisation challenges through diverse urban development and variety in housing solutions.

- With this competition, the City of Helsinki has provided us with an excellent opportunity to come up with ideas for a vibrant urban environment in one of the city's most central undeveloped areas, says Vice President Antti Aarnio from SATO. -  We've done plenty of zoning development work with cities before, and of course it's great to be involved in the design of an entirely new residential area with highly competent partners. Our preparation for the second phase of the competition will include the careful further consideration of issues such as construction costs and their impact on the most essential aspect from our customers' perspective - the rent level of the homes.

A total of ten proposals took part in the first phase of the Helsinki High-Rise architectural competition launched at the beginning of 2017 by the Finnish State and the City of Helsinki. The aim was to formulate a high-quality plan for the entire Tower Area of Central Pasila that can serve as a basis for zoning. In the second phase, the four shortlisted competitors will prepare a more detailed plan for at least 40,000 - 65,000 floor square metres located in the western part of the Tower Area.

Read more about the Helsinki High-Rise competition:

For more information please contact:
SATO Corporation
Antti Aarnio, Vice President, p. +358 201 34 4200 or +358 40 164 70 52 

SATO is one of Finland's leading lessors of rental apartments.
SATO aims to offer full options for rental housing and an excellent customer experience. At the end of 2016, SATO owned a total of 25,300 rental apartments in Finland's largest growth centres and in St. Petersburg.

We contribute to sustainable development and initiative through our operations, and engage in open interaction with our stakeholders in order to produce added value. We operate over the long term and profitably. We increase the value of housing assets through investments and divestments and through our repair activities.

SATO Group's net sales in 2016 stood at EUR 263.0 million* in accordance with the new reporting practices, its operating profit stood at EUR 267.2 million and its profit before taxes was EUR 219.4 million. The value of SATO's investment assets is EUR 3.4 billion.

 *Net sales have been changed in accordance with the new reporting practices.

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: SATO Oyj via Globenewswire

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