YIT to build second phase of the office, trade and logistics project for SBA Urban in Kaunas, Lithuania

YIT Corporation Press Release 14 March 2024 at 14:00 p.m. 

YIT and SBA Urban, a Lithuanian real estate development and investment company have signed a general contract for the construction of the second phase of the office, trade and logistics project Urban HUB in Kaunas, Lithuania. The value of the contract is approximately EUR 10 million, and it will be recorded in the order book for the first quarter of 2024. The construction works started at the beginning of this year and will be finished by the end of 2024. We announced the first phase in May 2023.

The second phase of the Urban HUB Kaunas, a shopping and business city, will provide approximately 6.000 square metres leasable space. The property will be one-story with mezzanine and an underground parking lot will be built nearby with 142 parking spaces of which 66 are for electric cars. Shopping centre IKI will become the largest tenant of the Urban HUB project leasing a 1.700 square metres of space.

Urban HUB Kaunas will achieve the highest A++ energy efficiency class, and targets BREEAM In-Use Excellent environmental certification. YIT is building similar complex for SBA Urban in Vilnius, which was disclosed in July 2023.

Further information:
YIT’s Corporate communications, tel. +358 44 743 7536, press@yit.fi

YIT is a leading construction and development company. Building on over 110 years of experience, we develop and build sustainable living environments: functional homes, future-proof public and commercial buildings, and infrastructure to support the green transition. We employ approximately 4,300 professionals in eight countries. Our revenue in 2023 was EUR 2.2 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

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