YIT has signed an agreement on an apartment and care project in Finland
YIT Corporation Investor news 14 December 2018 at 9:00 a.m.
YIT has signed contracts on an apartment building project and a care project in Finland. The value of the contracts is approximately EUR 27 million in total, and they will be booked in the order backlog for the fourth quarter of 2018.
YIT and the OP-Rental Yield special fund have signed a deal on constructing a rental apartment project in Tikkurila, Vantaa. The value of the agreement is approximately EUR 15 million.
As. Oy Vantaan Iltarusko is the fifth and final unit in the Valon kortteli block. Approximately 70 apartments will be completed in Iltarusko by the end of 2019. The Valon kortteli block is located in the centre of Tikkurila, with excellent transport connections and within walking distance from a wide range of services.
YIT started construction on the first project in the Valon kortteli block, Vantaan Sarastus, in October 2016. The Valon kortteli block has approximately 380 apartments in total. As its name Valo (‘light’) indicates, special attention is paid to light and lighting.
YIT and OP-Public Services Real Estate Fund have signed an agreement for a care property in Ranta-Tampella in Tampere, consisting of three group homes and five support apartments. Construction of the project will begin immediately. The project is worth approximately EUR 12 million, and it will be completed at the end of 2019.
For further information, please contact:
Hanna Jaakkola, Vice President, Investor Relations, YIT Corporation, tel. +358 (0)40 5666 070, hanna.jaakkola@yit.fi
Antti Inkilä, Executive Vice President, Housing Finland and CEE segment, YIT Corporation, Tel. +358 (0)40 864 4358, antti.inkila@yit.fi
YIT Corporation
Hanna Jaakkola
Vice President, Investor Relations
Distribution: NASDAQ Helsinki, major media, www.yitgroup.com
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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