YIT sells a business premise in Vuosaari, Helsinki to Pohjola Property Management

INVESTOR NEWS                 NOVEMBER 28, 2014 AT 11:30 A.M.

 

YIT sells a business premise in Vuosaari, Helsinki to Pohjola Property Management

YIT has signed an agreement on the sale of a business premise to be constructed in Vuosaari, Helsinki to Real Estate Fund Finland III Ky operated by Pohjola Property Management Ltd. The construction will begin in March 2015 and the project will be completed in spring 2016. The leasable area of the premise is around 2,400 square metres. The main tenant will be a grocery store S-market, in addition to which there will be other shops providing versatile services. The value of the project is approximately EUR 8 million including the plot that will be bought from the city of Helsinki.

“The investors of the fund, OP-Pohjola Group’s insurance- and pension institutions, consider basic services constructed in densing urban areas as safe, long-term investments”, tells Markku Mäkiaho, managing director from Pohjola Property Management.

“We are happy that our good cooperation with Pohjola Property Management continues. With this coming project we will be creating better services for people living in Vuosaari”, tells Heikki K. Hannukkala, director from YIT.

 

Illustrations on the project: http://yit.materialbank.net/NiboWEB/YIT/showCartPublicContent.do?uuid=6750136&random=702995&lang=en

 

For further information, please contact:

Sanna Kaje, Vice President, Investor Relations, YIT Corporation, +358 50 390 6750 sanna.kaje@yit.fi
Seppo Martikainen, Vice President, Transactions, YIT Construction Ltd, tel. +358 400 460 913, seppo.martikainen@yit.fi
 

 

YIT CORPORATION

 

Sanna Kaje
Vice President, Investor Relations

 

Distribution: NASDAQ OMX, Major media, www.yitgroup.com

 

YIT is a construction industry leader. We create better living environments in Finland, Russia, the Baltic countries, the Czech Republic and Slovakia. Over 100 years of experience have secured for us a strong market position: We are the largest housing developer and one of the largest business premises and infrastructure developers in Finland, and the most significant foreign housing and area developer in Russia.  Our vision is to stay one step ahead – while caring for our customers, partners and personnel. We have more than 6,000 employees in seven countries. In 2013, our revenue amounted to nearly EUR 1.9 billion. Our share is listed on Nasdaq OMX Helsinki. 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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