Plot transaction: YIT continues the development of the Ruzinov borough in Bratislava, Slovakia
YIT Corporation Press release, May 28, 2019, at 2:30 p.m.
YIT Slovakia has bought a plot in the Nivy area in Bratislava, Slovakia. The plot is located in the borough of Ruzinov, next to a business area undergoing rapid development.
Nivy´s overall plot size is almost seven hectares. A pre-cast concrete element mill used to operate in the area.
The current transaction concerns Area A that comprises 3.9 hectares. The plot purchase price will be paid in phases. The transaction also includes an option to buy the other half, so-called Area B, and it is estimated to be bought in five years.
The plan is to develop and construct a hybrid project in the Nivy area including apartments, office and retail premises and a park area. Retail premises have also been planned on the ground floor of the apartment buildings.
The overall value of the project would be over EUR 300 million.
“We are happy about the successful plot transaction and to take part in creating a sustainable, urban living environment in the highly valued borough of Ruzinov. The objective is to build an environmentally sustainable and functionally varied district that combines high-standard housing, services and workplaces. This plot transaction is strategically important to YIT. It strengthens our position as the leading residential developer in Bratislava,” says Tom Sandvik, the EVP of the Housing the Baltic countries and Central Eastern Europe division of YIT.
YIT is also running another significant project, Nuppu, in the borough of Ruzinov. Nuppu was launched in 2016 and comprises over 1,000 apartments that are being built in ten phases.
The current estimate is that the construction of the Nivy-plot project will begin in spring 2021.
For further information, please contact:
Tom Sandvik, EVP, Housing the Baltic Countries and CEE, YIT Finland Ltd, tel. +358 (0)40 061 7807, email@example.com
Hanna Malmivaara, Vice President, Communications, YIT Corporation, tel. +358 (0)40 561 6568, firstname.lastname@example.org
YIT is the largest Finnish and significant North European construction company. We develop and build apartments and living services, business premises and entire areas. We are also specialised in demanding infrastructure construction and paving. Together with our customers, our nearly 10,000 professionals are creating more functional, attractive and sustainable cities and environments. We work in 11 countries: Finland, Russia, Scandinavia, the Baltic countries, 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 2018 was approximately EUR 3.8 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com