YIT started the construction of residential projects in Finland worth approximately EUR 50 million

YIT Corporation Investor News March 1, 2018 at 10:30 a.m.

YIT has started the construction of residential projects worth approximately EUR 50 million in Turku, Tampere and Vantaa, Finland in January and February. The start-ups were recorded in first quarter of the year.

YIT started the construction of two projects in Turku. Asunto Oy Turun Fabriikin Fauna will comprise of almost 100 apartments and its value is over EUR 15 million. Fauna is the third project to be constructed in the Fabriikki area and it will be completed during the first quarter of 2019. Asunto Oy Turun Alfa will comprise of approximately 60 apartments and its value is over EUR 10 million. Alfa is the first project of a new city block to be constructed next to the textile factory building of the historical Barker cotton factory, and it will be completed during the second quarter of 2019.

Asunto Oy Tampereen Aallonharja will be constructed in Keulakortteli city block in the new Ranta-Tampella residential area in Tampere. It will comprise of 40 apartments and its value is over EUR 10 million. The project will be completed during the second quarter of 2019.

Additionally, YIT started the construction of Asunto Oy Vantaan Karpalo in Vantaa. Karpalo will be constructed according to Smartti concept, that is based on functionality and affordability. It will comprise of almost 60 apartments. The value of the project is almost EUR 10 million and it will be completed during the first quarter of 2019.

More information of the projects is available at YIT Homes website (in Finnish).

For further information, please contact:

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

Antti Inkilä, EVP, Housing Finland and CEE segment, YIT Corporation, tel. +358 40 864 4358, antti.inkila@yit.fi   

YIT CORPORATION

Hanna Jaakkola

Vice President, Investor Relations

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

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

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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