YIT started the construction of residential projects worth approximately EUR 125 million in Finland and the CEE countries
YIT Corporation Investor News April 9, 2018 at 12:00 noon
YIT has started the construction of residential projects worth approximately EUR 125 million in Finland, the Czech Republic and Estonia in March. The start-ups were recorded in first quarter of the year.
In Finland YIT started the construction of several projects. For example, Asunto Oy Helsingin Firdo is the second project constructed in Tripla in Pasila, Helsinki, and it will be completed in the first quarter of 2020. The project will comprise of nearly 110 apartments and its value is approximately EUR 40 million. YIT will construct four housing co-operatives in the western block of Tripla and close to its services. Pasila will become another centre of Helsinki and an even more important transportation hub that is expected to double its resident and job numbers by 2040.
Asunto Oy Helsingin Lorentz is a Hitas project and a result of an architecture competition to be constructed in Kruunuvuorenranta, Helsinki. The value of the project is over EUR 15 million with approximately 60 apartments to be completed in the third quarter of 2019.
Asunto Oy Jyväskylän Kalevanpoika will be constructed to the area of Äijälänranta residential fair organised in Jyväskylä, Finland in 2014. Kalevanpoika is another one of the high-rise buildings in the area. The value of the project is approximately EUR 15 million with approximately 70 apartments to be completed in the second quarter of 2019. YIT constructs all blocks of flats of the Äijälänranta area with four of them still to be started.
The value of Asunto Oy Vantaan Lumikvartsi is almost EUR 10 million and it will be completed in the second quarter of 2019. The project will comprise of approximately 40 apartments and the residents of the block have access to a comfortable and versatile yard.
In Prague, the Czech Republic, YIT started the fifth and seventh phases of Suomi Hloubětín residential area project. The total value of the two phases is approximately EUR 30 million and they will comprise approximately 160 apartments and a kindergarten. The projects will be completed in the second quarter of 2020.
In Tallinn, Estonia, YIT started the Väike-Patarei 1 project with over 90 apartments to be completed in the third quarter of 2019. The value of the project is approximately EUR 15 million.
For further information, please contact:
Hanna Jaakkola, Vice President, Investor Relations, YIT Corporation, tel. +358 40 5666 070, email@example.com
Antti Inkilä, EVP, Housing Finland and CEE segment, YIT Corporation, tel. +358 40 864 4358, firstname.lastname@example.org
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 pro forma revenue for 2017 was over EUR 3.8 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com