YIT CORPORATION INVESTOR NEWS July 1, 2011 at 12:30
YIT AND JULIUS TALLBERG-KIINTEISTÖT ARE PLANNING A RETAIL BUILDING FOR ESPOO, FINLAND
Julius Tallberg-Kiinteistöt Oyj and YIT Construction Ltd have signed a project contract with a view to building a commercial center based on YIT’s MotorCenter concept on a plot owned by Julius Tallberg-Kiinteistöt Oyj in Suomenoja, Espoo, Finland.
YIT will be responsible for the development of the commercial concept of the site, marketing and renting the premises and construction of the site. The rentable area of business premises is approximately 9,300 m2.
The goal is to start construction work in 2012 once the necessary lease agreements have been signed and the amendment of the town plan for the area is legally valid.
MotorCenter Suomenoja is located in the Suomenoja retail cluster. Suomenoja is a desirable location for business premises due to the strong purchasing power in the area and good traffic connections.
The MotorCenter concept developed by YIT provides products and services for motor vehicles and active people’s leisure activities. Ten more MotorCenters are planned for the Metropolitan Area during the next five years. There is a strong customer demand for the concept.
The already completed MotorCenters in Herttoniemi and Konala in Helsinki will open during this summer. The next ones in line are MotorCenter Avia in Vantaa during spring 2012 and MotorCenter Suomenoja in Espoo during 2013.
For additional information, please contact:
Unit Director Tapio Salo, YIT Construction Ltd, Commercial Construction Services, tel. +358 50 505 2608
CEO Hannu Vuorela, Julius Tallberg-Kiinteistöt Oyj, tel. +358 500 218 216
Senior Vice President, Corporate Communications
Distribution: Principal media, trade magazines, www.yitgroup.com
YIT is a leading European service company in building systems, construction services, and services for industry. We build, develop and maintain quality living environments in the Nordic countries, Russia, the Baltic countries and Central Europe. In 2010, YIT's turnover was approximately EUR 3.8 billion. The Group has nearly 26,000 employees. YIT's shares are listed on NASDAQ OMX Helsinki. www.yitgroup.com