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Joint ventures

Joint ventures 

Joint ventures have become a more common way for us to carry out large projects and to develop our business. In joint ventures, YIT is not only a constructor or developer, but a co-owner of a specific project or a business idea. That way, business can be developed in a longer perspective and in tighter and well-functioning co-operation with joint-venture partners.

Read more about our ongoing projects that we carry out as joint ventures.

Regenero


In June 2016, YIT and HGR Property Partners established a joint venture called Regenero, which will focus on developing sizeable combined apartment, commercial and business premises projects in the Helsinki metropolitan area. YIT’s area of expertise in the company includes turnkey contracting, infrastructure construction and segment-specific project expertise. HGR, on the other hand, has strong expertise in commercial development work, particularly in business ideas and concept design, as well as company-specific specialised solutions. Regenero acquired its first property in Espoo for a development project in January 2017.

A release of Regenero's first property acquisition

Read more about Regenero

Case: The project venture company developing the Mall of Tripla

The Mall of Tripla is a shopping mall to be constructed as the centre of Central Pasila. In terms of the number of retail spaces, it will be the largest in Finland and have the best commercial location in the country. The Mall of Tripla offers a total of 85,000 m2 of rentable space for some 250 operators. The shopping mall will be opened in the autumn of 2019, at the same time as the parking facilities and the new Pasila station. The project venture company developing the Mall of Tripla is owned by YIT, Etera, Onvest and Fennia. The implementation of the Mall of Tripla as a joint venture secured as a financing package of around EUR 300 million was granted for the project.

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Tripla by YIT

 

YCE Housing I fund  

At the end of 2016, YIT established a fund together with Finnish investors that invests in housing development projects in the CEE countries or in the Czech Republic, Slovakia, Poland, Estonia, Latvia and Lithuania. The investors in the fund are YIT (40%), Etera (30%) and a group of Finnish private investment companies (altogether 30%). The fund’s equity is approximately EUR 37 million and it is managed by Vicus Capital Advisors Limited, a company with long experience of real estate investment activity and development in Eastern European countries and in Russia.

During the next years, the fund is expected to carry out over ten projects and approximately thousand apartments to be sold primarily to private buyers.

 

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Kasarmikatu 21  

Ahlström Capital, YIT and HGR Property Partners are building a new property by Kasarmitori square in Helsinki CBD. The property will provide business space for up to a thousand employees at the end of 2017. The new property will be seven floors and consist of 16 000 square meters of office space. YIT is a minority shareholder with a 40% share of the ownership in the project.

In addition to the minority ownership, YIT is the general constructor of the project. The project started with demolishing two old office buildings which will be replaced by a new high-quality office building. The anchor tenant will be Roschier, Attorneys Ltd. The project begun in February 2016 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.

 Read more

Follow the development of the property on:

www.kasarmikatu21.fi

Facebook.com/kasarmikatu21

Instagram: @Kasarmikatu21

#Kasarmikatu21

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