YIT will start the construction of five apartment buildings for TA-Asumisoikeus Ltd

INVESTOR NEWS                 JUNE 1, 2015 AT 9:00 A.M.

 

YIT will start the construction of five apartment buildings for TA-Asumisoikeus Ltd

YIT has signed agreements on the construction of five subsidised apartment buildings for TA-Asumisoikeus Ltd. The total value of the projects that will be recorded in the second quarter’s order backlog is nearly EUR 20 million, and they will be completed by autumn 2016. The projects will comprise nearly 130 apartments.

The projects are part of the pre-agreement signed in November 2014 between YIT and TA-Yhtymä on the construction of subsidised right-of-occupancy and rental apartments in various locations in Finland. The pre-agreement covers over 20 residential properties. A maximum of around 750 apartments will be constructed by YIT on plots controlled or owned by YIT. Each project start-ups require municipal support and a project specific approval from The Housing Finance and Development Centre of Finland (ARA).

 

For further information, please contact:

Sanna Kaje, Vice President, Investor Relations, YIT Corporation, tel. +358 50 390 6750, sanna.kaje@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

 

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

YIT is a construction industry leader. We create better living environments in Finland, Russia, the Baltic countries, the Czech Republic and Slovakia. Over 100 years of experience have secured us a strong market position: we are the largest housing developer and one of the largest business premises and infrastructure developers in Finland, and the most significant foreign housing and area developer in Russia. Our vision is to stay one step ahead – while taking care of our customers, partners and personnel. We have nearly 6,000 employees in seven countries. In 2014, our revenue amounted to around EUR 1.8 billion. Our share is listed on NASDAQ OMX 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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