YIT to start the construction of a new apartment building project in the Moscow region, Russia
YIT Corporation Investor News August 17, 2017 at 8:00 a.m.
YIT starts the construction of a new apartment building project in Lytkarino, Moscow Region, Russia. The project will comprise approximately 200 apartments as well as business premises. The total value of the project is approximately EUR 10 million and the start-up is recorded in the third quarter. The project will be completed by the end of summer 2019.
The project is the latest phase of an area development project called Microdistrict 4A and it has an excellent location with a panoramic landscape to the Moscow River. A lake with a beach and a forest park area are also located nearby in the environmentally friendly area. The area is easily accessible via the Moscow Ring Road which is approximately 10 kilometres away along with good public transportation connections. The apartments vary from two and three room standard apartments with spacious living rooms to compact studio apartments.
For further information, please contact:
Hanna Jaakkola, Vice President, Investor Relations, YIT Corporation, tel. +358 40 5666 070, hanna.jaakkola@yit.fi
Teemu Helppolainen, Head of Business Area, Russia, YIT Construction Ltd, tel. +7 915 316 8216, teemu.helppolainen@yit.ru
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
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The YIT shares to be issued in connection with the merger of YIT and Lemminkäinen have not been registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) and are being issued in reliance on the exemption from registration set forth in Rule 802 under the Securities Act.
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