Toivo Group Plc has signed a sales and purchase agreement with Norlandia Hoiva for the construction of a new care facility in Joensuu

Press release, 23 April 2026 at 12:00 pm

Illustrative image: Vaaka-ARK Oy

Toivo Group Plc (”the Company” or ”Toivo”) has signed a sales and purchase agreement with Norlandia Hoiva for a nursing home for the elderly to be constructed in the Penttilä area of Joensuu. The total value of the transaction is just under EUR 9 million.

Construction of the project has recently commenced, and the nursing home is scheduled for completion and commissioning in the summer of 2027. The facility will include units for 50 residents in 24-hour service housing and 10 residents in communal housing. The building will be constructed to energy class A standards, featuring geothermal heating and rooftop solar panels. The closing of the transaction will take place after the completion of the project and is subject to uncertainties typical of real estate transactions.

“It is great to expand our collaboration with Norlandia into service housing, in addition to our work with daycares. The project in Joensuu has been developed in excellent cooperation,” says Perttu Aikkila, Business Director of Toivo’s Social Infrastructure Properties division.

Mira Ruusunen, Business Director of Care Services at Norlandia, is delighted with the project’s progress: “Our new nursing home will naturally complement our existing services in the Siun sote region, where we already provide home care and early childhood education. The project's design has advanced in stages, requiring careful coordination, and this completed transaction now allows us to move into the next phase of development.”

Further information
Markus Myllymäki
CEO
Toivo Group Plc
Tel. +358 (0)40 8476206
markus.myllymaki@toivo.fi

About Toivo
Toivo is a Finnish real estate company founded in 2015, specializing in residential and social infrastructure properties. The company’s business model is unique as it integrates the entire real estate value chain—from property development and construction to ownership, management, leasing, and sales of completed properties. Toivo’s in-house team manages the full lifecycle of a property, from raw land acquisition to lease negotiations and property maintenance.

Toivo’s strategy is to develop clear and efficient properties with strong development margins, stable and attractive returns, and excellent locations. This enables the company to deliver maximum added value to its customers, owners, and stakeholders. Toivo is backed by a skilled and experienced team of professionals with strong credentials in the real estate sector. The team members have collectively been involved in the development and construction of over 17,000 apartments and have an average of ten years of experience in the industry.

In 2025, Toivo’s revenue was EUR 61.7 million and operating profit EUR 8.0 million

About Norlandia

Norlandia Health & Care is a privately owned company. The company's founders, Kristian and Roger, draw their values from the demanding conditions of the North. The company’s foundation was laid in a small village where community spirit, respect for humanity and the environment, trust, and perseverance are essential for survival. We are a multi-sector provider of welfare services in Finland. Our operations cover services for the elderly, early childhood education, home care services, child welfare, disability services, and patient hotels.