YIT and Telia Finland agree on leasing the Tripla offices

YIT Corporation Investor News August 16, 2018 at 9.30 A.M.

YIT Tripla Workery 1
YIT Tripla Workery 1

YIT and Telia Finland have signed a long-term lease agreement on the Tripla Workery East offices under construction in Pasila, Helsinki, Finland. The agreement covers approximately 21,000 square metres in the easternmost quarter of Tripla above the new Pasila station.

With the agreement, the occupancy rate of the Tripla Workery East offices will be approximately 80 per cent. The construction of the offices started in the beginning of 2018, and Telia Finland plans to move in during March 2020. Tripla is a three-block complex in Central Pasila to be completed in phases in 2019–2020 with the Mall of Tripla shopping centre, a parking garage, a public transportation hub, apartments, a hotel and offices. The offices cover totally approximately 50,000 square metres.

“We investigated several possible locations for our new office and found the Tripla Centre in Pasila to best meet our requirements. Tripla’s location as a transport hub is an unbeatable advantage, and its services will also be extremely extensive. Our new head office will become a great meeting place for our customers and ecosystem partners, an inspiring working environment for our employees as a flexible space that can meet the future needs of the New Generation Telco”, says Stein-Erik Vellan, CEO, Telia Finland.

The agreement includes the sale of Telia Finland’s current head office buildings in Vallila, Helsinki, to YIT. Additionally, YIT and Telia Finland are negotiating on the possibility of establishing a real estate development joint venture. The buildings to be bought cover approximately 50,000 square metres, and the plan is to develop there versatile modern office spaces to cover various end-uses.  

”We are happy to be able to offer Telia Finland new offices in the future Tripla centre. Additionally, we look forward to the opportunity to develop the entire Central Pasila area as a whole, combining comfortable living, modern multi-use offices as well as extensive services and traffic connections,” says Esa Neuvonen, Executive Vice President, Business premises segment, YIT Corporation. 

For further information, please contact:

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

Esa Neuvonen, Executive Vice President, Business premises and Partnership properties segments, YIT Corporation, tel. +358 40 500 1003, esa.neuvonen@yit.fi

YIT Corporation

Hanna Jaakkola

Vice President, Investor Relations

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com 

YIT is the biggest construction company in Finland and a major player in Northern Europe. We construct and develop apartments, business premises and entire residential areas. Furthermore, we are specialists in infrastructure construction and paving. Together with our customers, our 10,000 professionals create increasingly functional, appealing and sustainable cities and living environments. We have operations in 11 countries: Finland, Russia, Scandinavian and Baltic countries, the Czech Republic, Slovakia and Poland. The new YIT was created by the merger of YIT Corporation and Lemminkäinen Corporation, both over 100 years old, on February 1, 2018. In 2017, our pro forma revenue amounted to over EUR 3.8 billion. YIT Corporation’s share is listed on Nasdaq Helsinki. www.yitgroup.com