Olas Group’s early-year sales grew from last year – profitable growth continues

Olas Group, which builds wooden geothermal homes in the Helsinki metropolitan area, has continued its strong growth during the first seven months of 2024. Housing sales increased by 20% compared to the same period last year, a clear sign of customer trust in a financially solid developer.

Increased housing demand drives revenue growth

The attractiveness of Olas homes is shown by the fact that demand has tripled compared to the same period last year. For example, one new development in Espoo sold out in record time – just four weeks. This demonstrates that Olas Group’s wooden geothermal homes meet customer expectations and needs.

Already now, Olas Group has secured revenue growth to over 20 million € in 2024. “We forecast revenue to grow by at least 20% this year compared to last year,” says Markus Alitalo, CEO of the company. Steady and controlled growth in the housing market strengthens the company’s position as a reliable and desirable player.

CEO sees signs of recovery in new housing sales

CEO Markus Alitalo views Olas Group’s strong early-year performance as a sign of recovery in the family housing market. “Customers are making reservations more readily, and almost every reservation leads to a sale. The recent sharp decline in interest rates has also encouraged customers to buy homes, and it seems that access to financing has improved. Perhaps the sale of previous homes has also sped up somewhat,” Alitalo notes.

Olas builds geothermal homes from Nordic wood in the most desirable areas of the Helsinki region. The company focuses on essentials: acquiring plots, planning, permits, and customer service. Construction work and contracts are outsourced, enabling the company to focus on providing the best possible service to its customers. Heating is always geothermal whenever the plot allows, offering both ecological and cost-efficient energy. In addition, all homes are prepared for solar panels.  

Since its founding in 2017, Olas has grown steadily into one of the leading builders of single-family homes in the Helsinki metropolitan area. Financially, it is among the strongest in the industry: revenue in 2023 was 17.7 million €, and the company’s credit rating is the highest possible, AAA. Olas aims to reach 100 M€ in revenue by 2028.