YIT to construct rental apartments worth approximately EUR 50 million in the capital region and in Tampere, Finland

YIT Corporation Investor News December 19, 2017 at 12:00 noon

YIT has signed agreements with ICECAPITAL and OP-Vuokratuotto non-UCITS Fund on the construction of residential projects for rental use in the capital region and in Tampere, Finland. The sales are recorded in the last quarter of the year.

The agreements signed with ICECAPITAL include three rental apartment projects in the capital region. The value of the agreements is approximately EUR 35 million in total, comprising approximately 200 apartments. The construction has started in November and December, and they will be completed in the beginning of 2019. The projects are part of the pre-agreement that YIT and ICECAPITAL signed in 2017 on construction of rental apartments in the capital region.

The agreement signed with OP-Vuokratuotto non-UCITS Fund includes a rental apartments project in Tampere. The value of the agreement is over EUR 15 million, comprising approximately 100 apartments. The construction will be started in February 2018 and it will be completed in summer 2019. The agreement is a part of a pre-agreement earlier signed with OP-Vuokratuotto.

For further information, please contact:

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

Antti Inkilä, Head of 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 creates better living environment by developing and constructing housing, business premises, infrastructure and entire areas. Our vision is to bring more life in sustainable cities. We want to focus on caring for customer, visionary urban development, passionate execution and inspiring leadership. Our growth engine is urban development involving partners. Our operating area covers Finland, Russia, the Baltic countries, the Czech Republic, Slovakia and Poland. In 2016, our revenue amounted to nearly EUR 1.8 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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