YIT starts the construction of the next two phases in a residential area project in Prague, the Czech Republic

YIT CORPORATION Investor News June 30, 2016 AT 2:00 P.M.

YIT starts the construction of the second and third phase of the Suomi Hloubětín residential area project in Prague, the Czech Republic. The two phases consist of seven apartment buildings with around 200 apartments and over 13,000 square meters of living area. The total value of the phases started is around EUR 20 million, and commissioning is expected to take place in the beginning of 2018.

Suomi Hloubětín is YIT’s largest area development project in Prague, with a plan to build a total of nearly 900 apartments in the 9-hectare area by 2024. The project is located in Prague’s 9th district in one of the fastest developing parts of the city. The good public transport connections, green area and the vicinity of versatile services makes the location an attractive living area. The customers have valued the concept of the area project, and demand for the first phase has been excellent.


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
Tom Sandvik, Head of the Baltic countries and Central Eastern Europe business division, tel. +358 400 617 807, tom.sandvik@yit.fi


YIT CORPORATION 

Sanna Kaje
Vice President, Investor Relations and M&A
 

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

YIT creates sustainable cities and better living environment by developing and 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. In 2015, our revenue amounted to nearly EUR 1.7 billion, and we employ about 5,300 employees. Our share is listed on Nasdaq 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

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