Estonia’s largest wooden house manufacturer Harmet starts developing real estate in the Finnish market

Harmet, the largest module manufacturer in the Baltics, and the Finnish project management company TILA Group formed a joint venture HaTi Group Oy to offer a high-quality turnkey solution in the Finnish market, including also general contracting. Harmet OÜ has a 60% share and TILA Group Oy a 40% share in the new joint venture. This year, it is also planned to implement the first construction project with a volume of 46 apartments and 2165 m2.

According to Toomas Kalev, Chairman of the Board of Harmet, the aim of establishing the joint venture is to gain a larger position in the Finnish construction and real estate market. “Combining Harmet’s 20 years of industry experience and the production capacity of the largest room element production plant in the Baltics completed in 2017, with the knowledge, skills and knowledge of the local market of TILA Group’s engineers, we can offer innovative real estate development in the Finnish market,” Kalev explained. HaTi Group Oy’s focus will be on the construction of timber dwellings, and the sales, resale, development and design of related products and services.

“We are pleased to enter into this joint venture collaboration with Harmet, one of the most experienced and biggest wooden module construction companies in Northern Europe. We expect to renew and refresh the Finnish modular construction business and together take it to a whole new level of industrialisation and modularity as opposed to constructing on-site”, says Tuomo Hynninen, CEO of TILA Group. 

Harmet OÜ – timber building factory. Photo: Harmet

Harmet is the largest manufacturer of modular houses (room elements) in the Baltics, owned by Estonian capital. The Harmet Group has four subsidiaries engaged in the production of metal structures, the production of industrial wet rooms, the erection of modular houses and the design, manufacture and installation of element-based modular houses. As of the end of 2020, the group employed about 800 people and turnover of the group companies was approximately 83 million euros. Harmet’s main market is Scandinavia, where more than 90% of the company’s production goes. 

TILA Group designs and builds healthy and clean spaces based on combining innovation, sustainability and wooden modules. TILA Group is owned by 20 Finnish companies each a specialist in their own field in architecture, renewable energy, carbon footprint, project management, structural design, HVAC, lighting and other fields required to complete complex and modern requirement construction projects. Examples include zoning design consulting, sustainable city block design and construction, wooden parking complexes, single family housing, wooden apartment buildings and energy use optimisation projects. The aim is to create holistic living environments combining high quality living, comfort, sustainability and harmony with surroundings.  

Source: Harmet, 19th February 2021