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Press release, 7 May 2026 at 12:00 p.m.
Toivo Group Plc (“Toivo”) has been selected to develop a daycare center project in Yli-Ii for the City of Oulu. The consortium formed by Toivo Yhteiskuntakiinteistöt Oy and Temotek Oy was selected as the developer following a competitive bidding process.
The Yli-Ii daycare center will be implemented as a leasehold project. Under this model, the lessor is responsible for the design, construction management, and maintenance of the building throughout the lease term. The City of Oulu has committed to leasing the facilities for a fixed term of 15 years, with the option for two additional five-year periods. The project is estimated to be completed in the spring of 2027.
“We are very pleased with the trust shown by the City of Oulu. The Yli-Ii daycare center emphasizes functional spatial solutions, energy efficiency, and a long-term life-cycle approach—factors that contributed to the project’s success in the quality scoring of the bidding process. We look forward to executing this project together with Temotek and the City of Oulu responsibly, on schedule, and with the users' needs at the forefront,” says Heikki Myllymäki from Toivo Yhteiskuntakiinteistöt Oy.
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