YIT started the construction of two residential projects in Russia
YIT CORPORATION Investor News April 1, 2016 at 4:00 p.m.
YIT started the construction of new residential projects in Yekaterinburg and Moscow region, Russia. The projects will comprise approximately 300 apartments in total and the value of the projects is nearly EUR 13 million. The start-ups were recorded in the first quarter and the projects will be completed in the end of 2017. The aim of the start-ups is to maintain the critical operating volume in the cities, according to YIT’s strategy.
The project started in Yekaterinburg is the newest phase of the significant area development project Rifei in Verhnaja Pyshma. The newest phase will consist of nearly 130 apartments. The project is located in the vicinity of Isetskoye and Baltym lakes within excellent transport connections. The area enjoys well-developed infrastructure with shopping malls, kindergartens and schools.
The second phase of the project called Serebryanie Zvoni in the Moscow region will consist of over 160 apartments. The project located in Zvenigorod city will comprise apartments that vary from studios to three-room apartments, in addition to which commercial premises will be constructed in the buildings. In the construction, special attention will been paid to energy efficiency and materials that will improve the comfort of living.
For further information, please contact:
Sanna Kaje, Vice President, Investor Relations and M&A, YIT Corporation, tel. +358 50 390 6750, firstname.lastname@example.org
Teemu Helppolainen, Head of Housing Russia segment, YIT Construction Ltd, tel. +7 915 316 8216, email@example.com
Vice President, Investor Relations and M&A
Distribution: NASDAQ Helsinki, principal 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