YIT started the construction of five apartment buildings in Russia in July–September
YIT Corporation Investor News, October 28, 2020 at. 10.00 a.m.
YIT has started the construction of five new apartment buildings in Russia in July–September. The properties are located in St. Petersburg, Yekaterinburg and the Moscow region, and their combined value exceeds EUR 40 million. The buildings will consist of nearly 800 apartments in total. The residential start-ups will be entered in the order backlog of the third quarter of 2020.
In St. Petersburg, YIT started the construction of the fifth and last apartment building in the Tarmo residential quarter. The 11-storey building will have nearly 170 apartments as well as space for a daycare centre for 80 children on the first two floors. The building is scheduled to be completed in the third quarter of 2022. The Tarmo residential quarter consists of more than 800 apartments in total and an indoor car park for 450 vehicles.
In Yekaterinburg, YIT started construction on the third building of the Suomen Ranta apartment building complex. The 14-storey building will have more than 130 apartments. The building is scheduled to be completed in the first quarter of 2022. The property is located on the shores of the Iset River, with good opportunities for outdoor recreation. The residential quarter will be comprised of five apartment buildings and an underground car park.
In the Yekaterinburg suburb of Verkhnyaya Pyshma, YIT started the construction of two new five-storey buildings as part of its Baltym Park area development project. The buildings will consist of nearly 200 apartments, with the ground floor apartments featuring their own compact terrace yards. The newly started buildings are scheduled to be completed in the first quarter of 2022. YIT has been developing the Baltym Park area since 2014. Nearly 5,000 apartments in total will be built in the 76-hectare area.
In the Moscow region, YIT started construction on a 17-storey building as part of the Shchyolkovo area development project. The building will consist of 300 apartments. The decision on the start of construction expedites the covering of YIT’s obligations and the controlled completion of the area development project in question.
For further information, please contact:
Tommi Järvenpää, Vice President, Investor Relations, YIT Corporation, tel. +358 (0)40 576 0288, tommi.jarvenpaa@yit.fi
Teemu Helppolainen, Executive Vice President, Housing Russia segment, YIT Corporation, tel. +7 915 316 8216, teemu.helppolainen@yit.ru
YIT CORPORATION
Tommi Järvenpää
Vice President, Investor Relations
Distribution: NASDAQ Helsinki, major media, www.yitgroup.com
YIT is the largest Finnish and a significant North European construction company and urban developer. We develop and build apartments and living services, business premises and entire areas. We are also specialised in demanding infrastructure construction. Together with our customers, our nearly 8,000 professionals are creating more functional, attractive and sustainable cities and living environments. We operate in 10 countries: Finland, Russia, Sweden, Norway, the Baltic countries, the Czech Republic, Slovakia and Poland. In 2019, our revenue was approximately EUR 3.4 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com
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