YIT signed a framework agreement worth around EUR 75 million with Hemsö for building care facilities

YIT CORPORATION Investor News June 16, 2016 at 9:00 a.m.

YIT has signed a framework agreement with the Swedish-based property investor Hemsö Fastighets AB on building nine care facilities in Finland. If all projects under the framework agreement will be implemented, their total value will be around EUR 75 million. Project-specific agreements will be signed as building permits have been secured for each separate project. The goal is to start all of the projects by the end of 2017. 

The facilities will include care homes, day-care centres and serviced and rented housing for the ageing customer segment. YIT is responsible for the design and construction of the facility. The projects will be designed based on the new YIT Care concept. In the concept, the provision of assisted living facilities is complemented by an increasing number of rental housing units marketed through a service provider or property owner. The lifecycle homes are designed to be modifiable specifically with the needs of elderly residents in mind, but anyone to whose life situation the apartments are suited is also welcome to live in them. A variety of services is available, but they are completely voluntary for the residents. 

“We are extremely pleased to have signed the framework agreement, and really look forward to engaging in a long-term partnership with YIT. Our goal is to contribute to the development of new housing solutions for different housing needs, such as those of the elderly,” says Jarkko Leinonen, Country Manager for Hemsö Fastighets AB in Finland.

“YIT has extensive experience in the implementation of care projects in Finland. With the ageing national demographic, care homes as well as other housing solutions will be needed to an increasing degree, and we are delighted to be able to participate in developing new building projects together with Hemsö,” says Anne Suojoki, Property Development Manager at YIT.

For further information, please contact:

Sanna Kaje, Vice President, Investor Relations and M&A, YIT Corporation, tel. +358 50 390 6750, sanna.kaje@yit.fi
Hedi Grass, Transaction Specialist, YIT Construction Ltd, tel. +358 40 7338821,
hedi.grass@yit.fi 

YIT CORPORATION

Sanna Kaje
Vice President, Investor Relations and M&A

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

YIT is a construction industry leader that creates sustainable urban environments by 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. Our vision is to stay one step ahead – while caring for our customers, partners and personnel. We have over 5,300 employees in eight countries. In 2015, our revenue amounted to nearly EUR 1.7 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 combined annual revenue for 2017 was over EUR 3.8 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com

Subscribe