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VAV group

The 2025 annual report and sustainability report have been published

Last year, we also helped to ensure a good, high-quality life for our residents in Vantaa. As a property developer and owner of a large property portfolio, we were helping to boost Vantaa’s vitality and employment. We generated significant economic value for society, just as we have done for the past 40 years.

The Chief Executive’s Review of 2025

The housing, property and construction sectors have been facing challenging times. With new-build projects being launched at historically low levels in many places, the completion of two new rental properties and a total of 174 new flats for VAV in 2025 felt particularly good. During the year, we also began construction of a large-scale assisted living development on a central, attractive site in Simonkylä.

Renovation work also continued at a brisk pace. Thanks to our systematic approach to renovations, we have succeeded in preventing the renovation backlog from building up too much.

The customer experience developed positively, and the comprehensive overhaul of our digital services progressed towards implementation. The tight financial situation faced by many of our customers was also reflected in our work: enquiries regarding difficulties in paying rent increased, the number of evictions rose and rent arrears grew. During the year, we strengthened our cooperation with the Vantaa and Kerava welfare region to prevent evictions.

The most notable achievement in our sustainability work this year was the reduction in our overall emissions. The main factor contributing to this was the gradual transition to renewable heat for heating our homes. We continued our long-standing and successful commitment to the sector’s shared energy efficiency targets by renewing our participation in the VAETS energy efficiency agreement for the years 2026–2035. In addition, during the year we explored opportunities to promote biodiversity by mapping the green areas
and vegetation in the gardens of all our buildings.

Even amidst these changes, there remains a significant need for affordable housing in Vantaa. Our occupancy rates and demand have remained high, and we have managed to keep rent increases moderate. We are therefore in a strong position to continue our core mission: to provide high-quality, sustainable and affordable homes, and to develop rental housing in Vantaa with a long-term perspective in the years to come.

Mirka Saarholma
Chief Executive Officer

Key figures

  • €113.5 million (110.7) turnover
  • 98.5 per cent (98 per cent) occupancy rate
  • 19,000 (19,000) residents
  • 11,848 (11,657) rental flats in Vantaa
  • 174 (62) completed homes
  • 364 flats in the planning stage

Read the report