YIT starts the fourth phase of the Novo Orlovski area development project in St. Petersburg
YIT CORPORATION Press release, April 6, 2018, at 14:00 p.m.
YIT started the fourth phase of its Novo Orlovski area development project in northern St. Petersburg, Russia—the construction of an apartment building including 197 apartments.
The value of the project is approximately EUR 12 million, and it will be entered for the second quarter of 2018.
The sizes of the apartments in the fourth phase of the Novo Orlovski range from studios to two-bedroom apartments. The combined area of the apartments is 8,800 square metres. Approximately half of the apartments have an open-plan kitchen and most of the apartments have glazed balconies. Some of the apartments have a sauna. Some of the apartments are “Transformer apartments” in which the customer may modify the space solutions according to pre-designed solutions when their housing needs change.
The first and second phases of the Novo Orlovski project were completed in 2016 and 2017. These phases included two 25-storey apartment buildings, parking hall and two 7-storey apartment buildings with covered parking spaces.
The third phase of the project is currently being finalised in the area and it will be completed during the last quarter of 2018. The fourth phase will be completed during the fourth quarter of 2019. After the fourth phase, YIT will build nine more apartment buildings in the area.
The architectural and district plans for the Novo Orlovski project are the work of the Spanish architects agency Taller de Arquitectura. The project is located in northern St. Petersburg with excellent transport links and services right on the doorstep.
Further information:
Teemu Helppolainen, Head of the Housing Russia Segment, YIT Construction Ltd, tel. +7 915 316 8216, teemu.helppolainen@yit.ru
Hanna Malmivaara, Vice President, Communications, YIT Corporation, tel. +358 40 561 6568, hanna.malmivaara@yit.fi
YIT is the biggest construction company in Finland and a major player in Northern Europe. We construct and develop apartments, business premises and entire residential areas. Furthermore, we are specialists in infrastructure construction and paving. Together with our customers, our 10,000 professionals create increasingly functional, appealing and sustainable cities and living environments. We have operations in 11 countries: Finland, Russia, Scandinavian and Baltic countries, the Czech Republic, Slovakia and Poland. The new YIT was created by the merger of YIT Corporation and Lemminkäinen Corporation, both over 100 years old, on February 1, 2018. In 2017, our pro forma revenue amounted to over EUR 3.8 billion. YIT Corporation’s share is listed on Nasdaq Helsinki. www.yitgroup.com
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