YIT chosen as the constructor for school, high school, and day care life cycle projects in Espoo, Finland in co-operation with Caverion

YIT Corporation Investor News March 20, 2017 at 2:30 p.m.

YIT has signed an agreement with the City of Espoo on the life-cycle projects of the Kirsti school and day-care centre renovation and the Viherlaakso school and high school renovation and expansion. The projects will be carried out in co-operation with Caverion, and their value for YIT is approximately EUR 39 million.

“Espoo is executing the project the same way as the previous life cycle projects, with Kiinteistö Oy Espoon Toimitilat running the finances. The previous life cycle projects have been a positive experience for Espoo,” says Olli Isotalo , the Chairman of the Board of Kiinteistö Oy Espoon Toimitilat.

The client's developer is the City of Espoo's Premises Department, which is a public utility. With the total gross area of over 20,000 square metres, the projects will offer space for approximately 1,500 pupils and children when they are completed. The project planning is set to begin immediately, and the projects will be completed in phases during 2018-2020.

“The new life cycle project strengthens our collaboration with the City of Espoo and expands our service operations together with the previous life cycle projects at Lintuvaara and Päivänkehrä schools. The life cycle model has already proven its practical suitability in municipal service construction, and Caverion is one of the leading life cycle project providers in Finland,” says Ville Tamminen , Executive Vice President & CEO, Division Finland.

“These projects are a continuation of our life cycle projects that are built on collaboration with highly competent partners. This marks the third life cycle project with the City of Espoo,” says Hannu Soikkeli , Vice President at YIT Construction.

For further information, please contact:

Hanna Jaakkola, Vice President, Investor Relations, YIT Corporation, tel. +358 40 5666 070, hanna.jaakkola@yit.fi   

Hannu Soikkeli, Vice President, YIT Construction Ltd, tel. +358 400 409 445, hannu.soikkeli@yit.fi

YIT CORPORATION

Hanna Jaakkola

Vice President, Investor Relations

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

YIT creates better living environment by developing and constructing housing, business premises, infrastructure and entire areas. Our vision is to bring more life in sustainable cities. We want to focus on caring for customer, visionary urban development, passionate execution and inspiring leadership. Our growth engine is urban development involving partners. Our operating area covers Finland, Russia, the Baltic countries, the Czech Republic, Slovakia and Poland. In 2016, our revenue amounted to nearly EUR 1.8 billion, and we employ about 5,300 employees. Our share is listed on Nasdaq Helsinki. www.yitgroup.com

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About Us

YIT creates better living environment by developing and constructing housing, business premises, infrastructure and entire areas. Our vision is to bring more life in sustainable cities. We want to focus on caring for customer, visionary urban development, passionate execution and inspiring leadership. Our growth engine is urban development involving partners. Our operating area covers Finland, Russia, the Baltic countries, the Czech Republic, Slovakia and Poland. In 2016, our revenue amounted to nearly EUR 1.8 billion, and we employ about 5,300 employees. Our share is listed on Nasdaq Helsinki. www.yitgroup.com

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