YIT sells a commercial property in Turku – ecological values emphasised in the construction of Veritas Head Office

YIT Corporation Investor News March 28, 2019 at 2:40 p.m.

YIT and Veritas Pension Insurance have signed an agreement on the sale of a commercial property in the district of Kupittaa in Turku, Finland. The construction of Trivium Retoriikka begins in March 2019 and the completion is set for October 2020. The value of the contract is approximately EUR 29 million.  

The project, to be realised as a turnkey contract, includes the construction of an office building with a floor area of about 10,000 square metres and a separate parking building with about 200 parking spaces. Among those to relocate to this modern eight-storey office building is Veritas’ Head Office.  

With this project, YIT continues to develop the Kupittaa district. Current construction projects in the area include the Original Sokos Hotel Kupittaa and a campus of the Turku University of Applied Sciences. Trivium Retoriikka is being built next to the new sports hall which was completed last year. 

“We are pleased to be able to continue the development of the Kupittaa area into one of the most important educational and office hubs in Turku. As regards the design and construction of the Trivium Retoriikka office building, special attention is paid to the principles of sustainability. We are also very pleased that the new owner is Veritas Pension Insurance, a company with its roots in the Turku region,” says Jukka Lämsä, Vice President at YIT. 

“When we designed the new headquarters, the themes of sustainable development were at the forefront. We want this to be a project that has a minimal environmental footprint. At the same time, we are looking forward to providing modern and functional premises to our personnel and others who will move into the building,” says Veritas’ CEO Carl Pettersson. 

For further information, please contact:
Hanna Jaakkola, Vice President, Investor Relations, YIT Corporation, tel. +358 (0)40 5666 070, hanna.jaakkola@yit.fi
Esa Neuvonen, EVP, Business Premises and Partnership Properties segments, YIT Corporation, tel. +358 (0)40 5001 003, esa.neuvonen@yit.fi  

YIT CORPORATION 

Hanna Jaakkola 

Vice President, Investor Relations 

Distribution: NASDAQ Helsinki, major media, www.yitgroup.com, www.veritas.fi 

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, 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 2018 was approximately EUR 3.8 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com