YIT sells BW Tower -office building in Lahti, Finland

INVESTOR NEWS                 MARCH 17, 2015 AT 4:00 P.M.

 

YIT sells BW Tower -office building in Lahti, Finland

YIT has sold the BW Tower -office building and a robot parking facility in connection with the office building in Lahti to Fennia Mutual Insurance Company, Aktia Life Insurance Ltd and The Finnish Metalworkers’ Union. The total value of the agreement is around EUR 22 million, of which approximately half will be recorded as revenue in the first quarter according to completion- and leasing rates. BW Tower will be completed in autumn 2015.

BW Tower is an 8-storey office building to be constructed in connection with the Lahti bus and freight terminal, with total leasable area of around 7,700 square metres. The leasing rate of the premises is over 90%, and the main tenants include Technical and Environmental Services of the City of Lahti and Lahden Pysäköinti Ltd. LEED Platinum certification, an internationally recognized certificate of a building’s environmental responsibility, efficiency and healthy working environment, will be applied for the building.

 

For additional information, please contact:

Sanna Kaje, Vice President, Investor Relations, YIT Corporation, tel. +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, principal 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 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 taking care of our customers, partners and personnel. We have nearly 6,000 employees in seven countries. In 2014, our revenue amounted to around EUR 1.8 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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