Regenero, a joint venture formed by YIT and HGR Property Partners, has applied for a planning reservation for Keilaniemenranta

YIT Corporation Press Release April 12, 2018 at 2:05 p.m.

Regenero, a joint venture formed by YIT and HGR Property Partners, has applied for a planning reservation for Keilaniemenranta project in Keilaniemi, Espoo, Finland from the City of Espoo. The application covers a water area at the Keilaniemi shore. For the area that is already under Regenero’s ownership and the area under the planning reservation, the target is to construct over 100,000 floor square metres of office, hotel and business premises as well as housing nearby the Keilaniemi metro station and the terminal point of Raide-Jokeri.

A new, 158 metres high office and hotel tower is under planning to create a new landmark of Keilaniemenranta, with KONE Corporation as the main tenant. In addition, conference, restaurant and cafeteria premises are under planning for the lower floors with a view of the waterside.

In October 2017 Regenero Oy acquired an area in Keilaniemi, where for example the former tower building of Fortum is located. It will be renovated to become a modern office space, to where the anchor tenant Accountor will move in by spring 2020.

“The target is that the new office and hotel tower would be completed by the end of 2022 for KONE and other tenants in the building. KONE Corporation has also negotiated with Regenero regarding the development of the People Flow solutions for the premises to constructed in the area. According to our suggested plan, the whole Keilaniemenranta project would be completed by 2025”, says Kari Helin from Regenero.

“Together with the other players in the area, Regenero’s is actively participating in constructing and developing the marine district of Keilaniemi to combine the Nordic high quality of life and top know-how. The project combines renovation and new construction in an elegant way. The living seaside and open and convenient environment for pedestrians create a basis for a comfortable area which offers a place to live, work and to enjoy services of good quality,” says Juha Kostiainen, Executive Vice President for Urban Development at YIT and Chairman of the Board at Regenero.

For further information, please contact:

Juha Kostiainen, Executive Vice President, Urban Development, YIT Corporation, tel. +358 400 721 475, juha.kostiainen@yit.fi

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

Regenero, founded in 2016, focuses on developing sizeable combined apartment, commercial and business premises projects in the Helsinki Metropolitan Area. The projects to be implemented are of considerable size and situated in key locations close to good transport connections.

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

About Us

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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