YIT started construction of two new apartment buildings in Russia in October–December

YIT Corporation Press release January 27, 2020 at 7:00 a.m.

In October–December 2019, YIT started construction of two new apartment buildings in Russia. The projects are located in Yekaterinburg and Tyumen. The total value of the projects is approximately EUR 22 million, with nearly 500 apartments to be completed. The start-ups of the apartments are booked in the order backlog of the fourth quarter of 2019.

In Yekaterinburg, YIT started the construction of a new apartment building called Vektori. The 25-storey building will feature more than 270 apartments and a parking hall with business premises and a roof-top recreational area for residents. The building is located in central Yekaterinburg, in the vicinity of diverse services and good traffic connections. The building is set to be completed in late 2021.

In Tyumen, YIT started the construction of the second phase of the Finskiy zaliv residential area. The 9-storey building is planned to have more than 200 apartments, mainly with 2–3 rooms. Some of the apartments are Transformer apartments, in which the residents can easily make changes to the floor plan when their needs change. In addition, the building will feature business premises and teaching facilities for 40 preschool children. The park area located near Finskiy zaliv offers excellent opportunities for various outdoor activities. The second phase is due for completion in the last quarter of 2020.

In addition, YIT acquired a new plot near the city centre of St. Petersburg at the end of 2019, with the intention of constructing an apartment building with approximately 100 apartments. The future project is located near many universities and cultural landmarks, such as the Mariinsky Theatre.

For further information, please contact:
Teemu Helppolainen, Executive Vice President, Housing Russia segment, YIT Corporation, tel. +791 5316 8216, teemu.helppolainen@yit.ru

Katja Tiitinen, Communications Manager, YIT Corporation, tel. +358 (0)50 595 4407, katja.tiitinen@yit.fi 

YIT is the largest Finnish and a 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 the over-100-year-old YIT Corporation and Lemminkäinen Corporation merged on February 1, 2018. Our restated pro forma revenue for 2018 was approximately EUR 3.2 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com