YIT to construct apartments for OP-Vuokratuotto fund worth over EUR 25 million

YIT CORPORATION Investor News May 26, 2016 at 3:00 p.m.

YIT and OP-Vuokratuotto non-UCITS Fund have signed pre-agreements on the construction of four non-subsidized residential projects for rental use. The total value of the agreements is over EUR 25 million, and the projects will comprise nearly 180 rental apartments. Project specific contracts will be signed prior to each project start-up. The aim is to start all the projects during 2016 and they will be completed by the end of 2017. The projects will be constructed on plots controlled or owned by YIT. The construction of the projects will not tie YIT’s capital.

“The projects agreed now continue the excellent co-operation between OP-Vuokratuotto and YIT”, says portfolio manager Antero Tenhunen from OP Property Management Ltd.

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
Harri Isoviita, Senior Vice President, Residential Construction, YIT Construction Ltd, tel. +358 40 553 3833, harri.isoviita@yit.fi
Matti Koskela, Senior Vice President, Building Construction, YIT Construction Ltd, tel. + 358 40 557 6520, matti.koskela@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 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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