Fransi’s comments on the Verkkosaari project started by Toivo 
Toivo Group announced on Monday that it has started an approximately 14 MEUR residential construction project in Verkkosaari, Helsinki, as a joint venture with Westons. The project was originally intended to be implemented as a group construction project before it was converted into an RS-project (new housing construction project) and acquired by Toivo and Westons. The project supports our expectations for new project starts to be weighted towards the second half of the year and demonstrates Toivo’s ability to find promising projects in this current residential market downturn, but the announcement does not cause any immediate changes to our forecasts.