11 December 2006
PRESS RELEASE
Tapiola Group has established a new company to run the real estate business. The company named Tapiola Real Estate Ltd is owned by the Tapiola Group and offers real estate investment and managing services. The official start-up is on 1 January 2007.
Tapiola Real Estate Ltd takes over the business of the Real Estate Unit and the employees are transferred to the new company as old employees. The Managing Director for the company is Asko Salminen, former Real Estate Director of Tapiola General and Tapiola Life.
Goal is to Secure and Develop Services and Competitiveness
The goal for the new company is to secure and develop the services and competitiveness on a challenging real estate market. The reorganization includes development of new fund structures and incorporation of the real estate business. The main object of these measures is to balance the return on real estate investments between the owning companies and enable new products and services for customers. The company is liable for the new funds structure operations and business of the former Real Estate Unit.
–The new organization responds to the challenges on the market. At the same time customers can utilize our competence in real estate business through new products and services, says Managing Director Salminen.
Owned by Tapiola General and Tapiola Life
The new company is owned by Tapiola General Mutual Insurance Company and Tapiola Mutual Life Assurance Company. The Chairman of the company’s Board of Directors is Jari Eklund, Investment Director of Tapiola General and Tapiola Life. Other members of the Board of Directors are Tapiola General’s Managing Director Juha Seppänen, Tapiola Life’s Managing Director Juha-Pekka Halmeenmäki, Tapiola Pension’s Managing Director Olli-Pekka Laine and Tapiola Pension’s Investment Director Hanna Hiidenpalo.
Tapiola Real Estate Ltd offers real estate investment, managing and counseling services as well as manages real estate investments and fixed assets. The company also engages in rental business, marketing, house management and administration, maintenance, outsourcing and sales services.
The reorganization does not affect the present real estate ownerships or rentals.
Additional Information
Asko Salminen, Managing Director, Tapiola Real Estate Ltd, tel. +358 9 453 2202 or +358 40 577 553, e-mail: forename.surname@tapiola.fi
Jari Eklund, Investment Director, tel. +358 9 453 3311 or +358 40 5698 933, e-mail: forename.surname@tapiola.fi
Information Services/Rami Saarela