YIT started several apartment building projects in April–June in Finland and sold housing to LähiTapiola
YIT Corporation Investor News July 16, 2019 at 8:00 a.m.
YIT started several apartment building projects in Finland in April–June 2019. The largest of the newly started projects are Tampereen Rantakaari, Helsingin Karikukko, Espoon Neptunus, Helsingin Kuninkaanpolku ja Turun Villenpuisto III. The total value of the projects is over EUR 95 million. The start-ups of the apartments are booked in the order backlog of the second quarter of 2019.
Tampereen Rantakaari is located in the new residential area of Ranta-Tampella, which connects Tampere city centre and Lake Näsijärvi. The value of the project is approximately EUR 28 million with approximately 80 apartments to be completed at the end of 2020.
Helsingin Karikukko is located in Helsinki’s Lauttasaari close to the nature area of Myllykallio. The value of the project is over EUR 25 million. Over 40 apartments will be completed in the beginning of 2021.
Espoon Neptunus overlooks the Marinranta seafront in Kivenlahti. The value of the project is approximately EUR 20 million with over 60 apartments to be completed at the end of 2020.
Helsingin Kuninkaanpolku is located in the area of Kuninkaantammi bordering Central Park in Helsinki. The value of the project is over EUR 12 million. The project comprises nearly 50 homes to be completed in spring 2021.
Turun Villenpuisto III is located in Vasaramäki and is the final apartment building to be completed in the housing block. The value of the project is approximately EUR 10 million, with approximately 50 apartments to be completed in autumn 2020.
In addition, YIT has signed a contract on selling an apartment block to LähiTapiola. As Oy Kuopion Klaara is located in the city centre of Kuopio and it will comprise 74 apartments. The construction began in June 2019 and the work is scheduled to be completed in August 2020. The total value of the transaction is approximately EUR 12 million, and it will be recorded in the order backlog for the second quarter of the year.
For further information, please contact:
Hanna Jaakkola, Vice President, Investor Relations, YIT Corporation, tel. +358 (0)40 566 6070, firstname.lastname@example.org
Antti Inkilä, Executive Vice President, Housing Finland and CEE segment, YIT Corporation, Tel. +358 (0)40 864 4358, email@example.com
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 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 pro forma revenue for 2018 was approximately EUR 3.8 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com