YIT started the construction of a new apartment building in area development project in St. Petersburg, Russia
YIT Corporation Investor News October 19, 2016 at 1:00 p.m.
YIT has started the construction of a new apartment building in an area development project called Novo Orlovsky in North St. Petersburg, Russia. The value of the project is approximately EUR 20 million and it is due for completion during autumn 2018. The start-up was recorded in the third quarter.
The Novo Orlovsky project which has now been started includes approximately 340 apartments with a combined living area of approximately 12,300 square metres. Approximately 900 square metres of business premises will be constructed in connection with the building. The design of the apartments includes both many apartments with open plan kitchen and small studio apartments which good price-quality ratio.
In total of almost 10,000 apartments will be built on the 46-hectare plot of Novo Orlovsky. The project will also include the construction of several car parks, day care centres, schools, shops, pharmacies, a sports and leisure centre and other business premises for retail and services. The project is located in North St. Petersburg with excellent transportation connections and services.
For further information, please contact:
Hanna Jaakkola, Vice President, Investor Relations, YIT Corporation, tel. +358 40 5666 070, hanna.jaakkola@yit.fi
Teemu Helppolainen, Head of Business Area, Russia, YIT Construction Ltd, tel. +7 915 316 8216, teemu.helppolainen@yit.ru
YIT CORPORATION
Hanna Jaakkola
Vice President, Investor Relations
Distribution: NASDAQ Helsinki, major media, www.yitgroup.com
YIT creates better living environment by developing and constructing housing, business premises, infrastructure and entire areas. Our vision is to bring more life in sustainable cities. We want to focus on caring for customer, visionary urban development, passionate execution and inspiring leadership. Our growth engine is urban development involving partners. Our operating area covers Finland, Russia, the Baltic countries, the Czech Republic, Slovakia and Poland. In 2015, our revenue amounted to nearly EUR 1.7 billion, and we employ about 5,300 employees. Our share is listed on Nasdaq Helsinki. www.yitgroup.com
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