YIT to start the construction of two apartment buildings in Tallinn, Estonia

YIT Corporation Investor News March 23, 2017 at 2:30 p.m.

YIT starts the construction of two apartment building projects in Tallinn, Estonia. The total value of the projects is approximately EUR 12 million, and the start-ups are recorded in the order backlog in the first quarter. The construction work of both projects starts in April.

Algi 59 is a new project to be implemented in one phase. The project is located in Kristiine district. Algi 59 will comprise 76 apartments in four buildings of with total area of approximately 4,500 square metres. The project will be completed in summer 2018.

Mäepealse 13/1 is the 11th phase of Mäepealse area development project, that will comprise 38 apartments with total area of approximately 2,000 square metres. The project is located in a peaceful area close to good transportation connections and services. The second phase will be completed in spring 2018.

The projects are supporting YIT’s strategy to grow in the growth centres in Finland and CEE countries, Tallinn being one of these.

For further information, please contact:

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

Tom Sandvik, Head of the Baltic countries and Central Eastern Europe business division, YIT Construction Ltd., tel. +358 400 617 807, tom.sandvik@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

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YIT is the largest Finnish and a significant North European construction company and urban developer. We develop and build apartments and living services, business premises and entire areas. We are also specialised in demanding infrastructure construction. Together with our customers, our nearly 8,000 professionals are creating more functional, attractive and sustainable cities and environments. We work in 10 countries: Finland, Russia, Sweden, Norway, the Baltic countries, Czech Republic, Slovakia and Poland. Our revenue in 2019 was approximately EUR 3.4 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com

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