YIT to build office, sales and stock office premises for SBA Urban in Kaunas, Lithuania
YIT Corporation Investor News 8 May 2023 at 8:00 a.m.
YIT and SBA Urban, a Lithuanian real estate development and investment company have signed a general contract on the construction of the first stage of an office, sales and stock office premises project named Urban HUB Kaunas in Lithuania. The value of the contract is approximately EUR 32 million, and it will be recorded in the order book for the second quarter of 2023. The work will begin in May 2023 and the project is scheduled to be completed by the end of 2023.
The first stage of Urban HUB Kaunas will consist of four buildings with approximately 22,000 m2 leasable space. The property will provide flexible warehousing, showroom, and office spaces suited for a wide array of tenants engaged in e-commerce, retail, wholesale, logistics, and various other businesses.
Urban HUB Kaunas will achieve the highest A++ energy efficiency class, and BREEAM In-Use Excellent environmental certification will be sought for the property. The project includes 428 parking spaces, 111 of which are for electric cars with dedicated charging stations. Also, construction of new roads and entrances from the A1 and A6 highways are included in the construction project, which will provide convenient access both for customers and supply chain logistics.
Further information:
Samu Heikkilä, Investor Relations Manager, YIT, tel. +358 44 581 7979, samu.heikkila@yit.fi
Tom Ekman, EVP, Business Premises segment, YIT, media inquiries through Group Communications, tel. +358 44 743 7536, press@yit.fi
YIT Corporation
Tuomas Mäkipeska
CFO
Distribution: Nasdaq Helsinki, major media, www.yitgroup.com
YIT is the largest Finnish and a significant North European development and construction company. We develop and build sustainable living environments: functional homes, future-proof public and commercial buildings, infrastructure for smooth mobility, and renewable energy solutions to benefit the climate. We employ around 5,000 professionals in nine countries: Finland, Sweden, Norway, Estonia, Latvia, Lithuania, the Czech Republic, Slovakia and Poland. Our revenue in 2022 was EUR 2.4 billion. YIT Corporation's share is listed on Nasdaq Helsinki. Read more: www.yitgroup.com
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