YIT to sell an apartment building project to a private cooperative in Prague, the Czech Republic

YIT Corporation Investor News December 7, 2016 at 9:00 a.m.YIT has sold an apartment building project to a private cooperative in Prague. The sold apartments are a part of the second phase of Suomi Hloubětín project. The agreement comprises 90 apartments with low energy consumption in three buildings. The total value of the agreement is approximately EUR 10 million. Construction of the project will start at the last quarter of 2016 and it will be completed in summer 2018. Cooperative housing has a long tradition in the Czech Republic. The cooperative buys the building and arranges for