YIT to construct an office building in Helsinki city centre
YIT CORPORATION Investor News March 10, 2016 at 12:00 noon
YIT has signed a contract with the joint-stock property company Kiinteistö Oy Kasarmikatu 21 on the demolition of two old office buildings and on the construction of a new office building in the same plot in Helsinki city centre. The joint-stock property company is owned by Ahlström Capital, HGR Property Partners and YIT. YIT is a minority shareholder with a 40% share of the ownership in the project.
The old office buildings from 1960’s located in Kasarmikatu 21 will be demolished and a new, high-quality office building for almost 1,000 employees will be built to replace the old buildings. The anchor tenant will be Roschier, Attorneys Ltd. The project begun in February with demolition work and the new office building will be completed in the end of 2017. The property will be constructed according to requirements of the LEED Platinum environmental certificate.
The leasable area of the Kasarmikatu’s new, 7-floor office property will be around 16,000 square metres, in addition to which an underground parking facility will be built in connection to the building. The property has been designed by SARC Architects.
Illustrations of the project: Kasarmikatu 21
For further information, please contact:
Sanna Kaje, Vice President, Investor Relations and M&A, YIT Corporation, tel. +358 50 390 6750, email@example.com
Timo Lehmus, Head of Real Estate Development business division, YIT Construction Ltd, tel. +358 400 409 181, firstname.lastname@example.org
Vice President, Investor Relations and M&A
Distribution: NASDAQ OMX, principal media, www.yitgroup.com
YIT is a construction industry leader that creates sustainable urban environments by constructing housing, business premises, infrastructure and entire areas. We focus on providing a first-class customer experience, high quality and continuous development of our diverse expertise. Our operating area covers Finland, Russia, the Baltic countries, the Czech Republic, Slovakia and Poland. Our vision is to stay one step ahead – while caring for our customers, partners and personnel. We have over 5,300 employees in eight countries. In 2015, our revenue amounted to nearly EUR 1.7 billion. Our share is listed on Nasdaq OMX Helsinki. www.yitgroup.com