YIT to construct business and office center Navigator in Tallinn, Estonia

9/17/2012 3:00 AM EST

YIT
Press release

YIT to construct business and office center Navigator in Tallinn, Estonia

Helsinki, 2012-09-17 09:00 CEST (GLOBE NEWSWIRE) -- YIT Corporation            
                        PRESS RELEASE          17 September 2012 at 10 am 



YIT to construct business and office center Navigator in Tallinn, Estonia

YIT’s Estonian subsidiary YIT Ehitus and the real estate investment company
Capital Mill OÜ have signed an agreement on the engineering and construction of
a business and office centre to be constructed on Laeva Street in Tallinn. The
business and office centre will be named Navigator. The site is situated in the
vicinity of the Port of Tallinn, the Rottermann Quarter, the Old City and the
Foorum and Norde Centrum shopping centers. The value of the contract is EUR 9
million. The new building, realised using the project management model, will be
completed by the end of 2013. 

The building will feature six floors and underground parking facilities. The
total floor area of the project is 9,000 square meters. The impressive façade
with its architecturally interesting indented sections will be made primarily
of glass. 

Toomas Rapp, member of the management board of AS YIT Ehitus, considers the
project challenging. 

”We believe that the Navigator will provide a lot of added value to the area
between the city centre and the port, thereby contributing to the development
of the area as a whole. Constructing the building using the project management
model provides us with an opportunity to utilise our competence in all of the
project phases. We can design and realise a technically versatile building in
cooperation with the customer,” Rapp says. 

Room for premium business premises in Tallinn

Marko Kull, partner in Capital Mill OÜ, says that the start-up of the project
is timed well in a situation where the volume of vacant premium office premises
in the centre of Tallinn is not high. 

”There is a lot of development potential in the area, and more architecturally
well designed buildings will be constructed here in the future. Navigator is
identifiable from a distance and one also remembers it. We hope that our new
project will lead the way for the entire area,” Kull says. 

For further information, please contact:

Tom Sandvik, head of the Baltic countries and Central Eastern Europe division,
International Construction Services, tel: +358 400 617 807,   

Marko Kull, partner, OÜ Capital Mill, tel: +372 524 5665,  

Toomas Rapp, Production Director, AS YIT Ehitus, tel: +372 665 2100,
  

 Distribution: Principal media, www.yit.fi



YIT is celebrating its 100th anniversary in 2012. The company was founded in
the Grand Duchy of Finland in 1912. Today, YIT is a leading European service
company in building systems, construction services and services for industry.
With our 26,000 professionals, we serve our customers in 14 countries: in the
Nordic and Baltic countries, Central Europe and Russia. We have grown together
with our customers and developed our services as societies have changed. We
intend to continue on that path. Our vision is to lead the way in creating and
maintaining good living environments. In 2011, YIT's turnover was approximately
EUR 4.4 billion. YIT's shares are listed on NASDAQ OMX Helsinki. www.yit.fi,
www.yitgroup.com