interim report Q1/2014
VVO-group plc is a leading company in Finland specialising in investing in and renting real estate. Established 45 years ago, VVO now has more than 40,000 rental apartments in 43 municipalities. For most of these (around 65 per cent), market-based rents are charged. For the remaining apartments, rents are set in accordance with the cost principle. The fair value of VVO's housing asset is over EUR 3.4 billion.
In 2013, VVO invested around EUR 220 million in renovation and new construction of rental apartments. Strong growth was reflected by the fact that we had 1,020 rental apartments under construction at the end of 2013.