During the first quarter of 2021, YIT began the construction of three apartment buildings in Russia
YIT Corporation Investor News April 29, 2021, at 09:00 a.m.
In January–March 2021, YIT started the construction of three new apartment buildings in Russia. The properties are located in St. Petersburg and the Moscow region, and their combined value is approximately EUR 38 million. The buildings will consist of nearly 550 apartments in total. The residential start-ups are booked in the order book of the first quarter of 2021.
In St. Petersburg, YIT started the construction of an apartment building called Wellamo. The 10-storey building will consist of almost 100 apartments, approximately 500 square metres of commercial premises on the first floor and an underground parking facility for approximately 40 cars. The property is located on Kurlyandskaya Street, near St. Petersburg's historic centre, close to a wide range of services and a metro station. The apartments will be completed in the second quarter of 2023.
In St. Petersburg, YIT started the eighth phase of the Novo Orlovski area development project. The 25-storey tower block to be built in the area will have more than 270 apartments and around 500 square metres of commercial premises at street level. The eighth phase is scheduled for completion by the end of 2022. Novo Orlovski is located close to transport connections and services, just north of St. Petersburg. YIT has been developing the area since 2014.
In the Moscow region, in the city of Shchelkovo, YIT started the construction of the 12th and last apartment building in its Finski area development project. The 16-storey building will have a total of 180 apartments. The project will be completed in the first quarter of 2023. In total, the Finski residential area comprises more than 3,300 apartments, a daycare centre for 200 children, a school for more than 800 students and parking facilities for 900 cars.
For further information, please contact:
Tommi Järvenpää, Vice President, Investor Relations, YIT Corporation, tel. +358 (0)40 576 0288, tommi.jarvenpaa@yit.fi
Teemu Helppolainen, Executive Vice President, Housing Russia segment, YIT Corporation, tel. +7 915 316 8216, teemu.helppolainen@yit.ru
YIT CORPORATION
Tommi Järvenpää
Vice President, Investor Relations
Distribution: NASDAQ Helsinki, major media, www.yitgroup.com
YIT is the largest Finnish and a significant North European urban developer and construction company. We create more sustainable, functional and attractive cities and living environments. We develop and build apartments, business premises and entire areas. We also specialise in demanding infrastructure construction. We own properties together with our partners, which supports the implementation of our significant development projects. We also provide our customers with services that increase the value of properties. We employ about 7,400 professionals in 10 countries: Finland, Russia, Sweden, Norway, Estonia, Latvia, Lithuania, the Czech Republic, Slovakia and Poland. In 2020, our revenue amounted to approximately EUR 3.1 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy.
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