YIT to construct rental and right-of-occupancy apartments worth approximately EUR 35 million

YIT Corporation Investor News March 31, 2017 at 3:30 p.m.

YIT constructs rental and right-of-occupancy apartments worth approximately EUR 35 in the Helsinki metropolitan area and other Finnish growth centres for different parties. All the projects are recorded in the order backlog in the first quarter of 2017.

YIT has signed agreements on the construction of three residential projects for a housing fund as a part of previously signed pre-agreements. The projects comprise approximately 130 apartments and their value is approximately EUR 20 million in total. The construction will start in spring 2017 and the projects will be completed in early 2018 and in summer 2018.

YIT also signed agreements on two projects in Kangas area in Jyväskylä, Finland. The total value of the projects is almost EUR 15 million. YIT will construct right-of-occupancy building with over 30 apartments for TA-Asumisoikeus Oy. The construction will start in May 2017 and the project will be completed in summer 2018. In addition, YIT constructs a non-subsidised student apartment tower building for Keski-Suomen Opiskelija-asuntosäätiö (KOAS). The building comprises almost 120 apartments and it is already the fourth student housing project for KOAS constructed by YIT. The project is started immediately and it will be completed in autumn 2018.

For further information, please contact:

Hanna Jaakkola, Vice President, Investor Relations, YIT Corporation, tel. +358 40 5666 070, hanna.jaakkola@yit.fi 

Antti Inkilä, Head of Housing Finland and CEE segment, YIT Corporation, tel. +358 40 864 4358, antti.inkila@yit.fi

YIT CORPORATION

Hanna Jaakkola

Vice President, Investor Relations

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

YIT creates better living environment by developing and constructing housing, business premises, infrastructure and entire areas. Our vision is to bring more life in sustainable cities. We want to focus on caring for customer, visionary urban development, passionate execution and inspiring leadership. Our growth engine is urban development involving partners. Our operating area covers Finland, Russia, the Baltic countries, the Czech Republic, Slovakia and Poland. In 2016, our revenue amounted to nearly EUR 1.8 billion, and we employ about 5,300 employees. Our share is listed on Nasdaq Helsinki. www.yitgroup.com

About Us

YIT is the largest Finnish and significant North European construction company. We develop and build apartments and living services, business premises and entire areas. We are also specialised in demanding infrastructure construction and paving. Together with our customers, our nearly 10,000 professionals are creating more functional, attractive and sustainable cities and environments. We work in 11 countries: Finland, Russia, Scandinavia, the Baltic States, the Czech Republic, Slovakia and Poland. The new YIT was born when over 100-year-old YIT Corporation and Lemminkäinen Corporation merged on February 1, 2018. Our pro forma revenue for 2018 was approximately EUR 3.8 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com

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