Foundation stone laid in Tripla, Pasila

YIT CORPORATION Press Release, August 17, 2016 at 12:50 p.m

The foundation stone for YIT’s Tripla was laid today, on August 17, 2016, in Pasila, on the largest construction site in Finland. The Tripla site currently employs over 400 people, and the number of workers is expected to increase to over one thousand in the coming years. 

Tripla represents the rising trends in European urban development, which could be nicely summed up in the words “more city”. More city means densely populated urban structures, excellent public transport services and the coexistence of different functions. The City of Helsinki is currently making notable improvements to the street network, traffic arrangements and public transport in Pasila, and the Finnish Transport Agency is building an additional rail on the eastern side of the station to make railway traffic smoother.

“Pasila will be the new heart of Helsinki: a significant business, office, service and event district and the most important transport hub in Finland. Central Pasila will also become a lively and cosy neighbourhood that never sleeps and represents the values of sustainable development”, says Jussi Pajunen, Mayor of Helsinki.

“Tripla marks the start of the construction of Central Pasila. In the future, the new neighbourhood will connect the eastern and western parts of Pasila, making the entire area more important.”

The first part of Tripla that will be completed is the Mall Of Tripla, which will span the lower floors of three blocks, along with its parking facilities and the commercial premises at Pasila railway station.

“I am happy to note that Helsinki has adopted a truly strategic and forward-looking approach to the development of Pasila”, says Kari Kauniskangas, President and CEO of YIT Corporation.

The Mall of Tripla is owned by a joint venture between YIT, Etera, Onvest and Fennia. The most important funders are the European Investment Bank EIB, the Nordic Investment Bank NIB, Danske Bank and Handelsbanken.

“I believe that this project will have a fundamental impact on the geography of Helsinki. In my opinion, the phrase “new heart of Helsinki” is much more than an advertising slogan”, says Stefan Björkman, Managing Director of Etera.

The Tripla site is already today exceptionally large, and it features advanced construction engineering. Operating in a busy transport hub adds its own challenge to the project. There are several simultaneous phases in progress on the site. At the moment, the most important of these are the vault of the parking facility and the preparatory demolition at Pasila railway station. Schedule-wise, the project is midway. The shopping mall, parking facilities and the new Pasila railway station will be completed in late 2019.

For further information, please contact:

Hanna Malmivaara, Vice President, Communications, YIT Corporation, tel. +358 40 561 6568,hanna.malmivaara@yit.fi

Tapio Salo, Senior Vice President, Tripla, YIT Construction Ltd, tel. +358 50 505 2608, tapio.salo@yit.fi 

YIT creates sustainable cities and better living environment by developing and constructing housing, business premises, infrastructure and entire areas. We focus on providing a first-class customer experience, high quality and continuous development of our diverse expertise. Our operating area covers Finland, Russia, the Baltic countries, the Czech Republic, Slovakia and Poland. In 2015, our revenue amounted to nearly EUR 1.7 billion, and we employ about 5,300 employees. Our share is listed on Nasdaq Helsinki. www.yitgroup.com  

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YIT is the largest Finnish and significant North European construction company. We develop and build apartments, business premises and entire areas. We are also specialised in demanding infrastructure construction and paving. Together with our customers our 10,000 professionals are creating more functional, more attractive and more sustainable cities and environments. We work in 11 countries: Finland, Russia, Scandinavia, the Baltic States, the Czech Republic, Slovakia and Poland. The new YIT was born when over 100-year-old YIT Corporation and Lemminkäinen Corporation merged on February 1, 2018. Our pro forma revenue for 2017 was over EUR 3.8 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com

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