YIT and YH Kodit Oy to construct two apartment buildings in Piispanristi in Kaarina, Finland

Investor News 14 November 2012 at 11 a.m.



YIT and YH Kodit Oy to construct two apartment buildings in Piispanristi in Kaarina, Finland

YIT and YH Kodit Oy have signed an agreement on the construction of two apartment buildings in Piispanristi in Kaarina. The buildings comprise 73 apartments, and the total value of the contract is approximately EUR 10 million. The buildings will have both right-of-occupancy homes and rental apartments. The construction will begin early in 2013 and will be completed in 2014.

“The agreement continues the good collaboration between YIT and YH Kodit and enhances the development of the new residential area in Kairiskulma. YIT will construct a total of ten apartment buildings in the area, with about 350 apartments. A diverse building stock will facilitate the rapid development of the area,” says Jyrki Meri, Regional Director, Turku Region, YIT.

“The buildings will be constructed in a traditional residential district with a long-standing need for new buildings. This fits our strategy, as we want to offer a diversity of options for safe and effortless living in pleasant environments for people in different life situations. We are an agile company that has the ability to adapt to the constantly changing market and quickly respond to customers’ needs,” says Kari Talvitie, Project Manager and Supervisor, YH Kodit Oy.

The Kairiskulma residential district is located in Piispanristi, with excellent traffic connections to both Kaarina and Turku. The new blocks will border on Rauvola Park, complementing the existing residential building stock in the area.

For further information, please contact:

Antero Mäkelä, Property Development Manager, Housing Construction, Turku Region, YIT Construction Ltd, antero.makela@yit.fi, tel. +358 40 519 0016

Kari Talvitie, Project Manager and Supervisor, YH Kodit Oy, kari.talvitie@yhkodit.fi, tel. +358 10 227 3722



YIT celebrates its 100th anniversary in 2012. The company was established in the Grand Duchy of Finland in 1912. Today, YIT is a leading European service company in building systems, construction services and services for industry. Our 26,000 professionals serve customers in 14 countries in the Nordic and Baltic countries, Russia and Central Europe. We have grown together with our customers and developed our services in line with the changes taking place in different societies. We intend to continue on that track. Our vision is to lead the way in creating and maintaining good living environments. In 2011, YIT’s revenue was approximately EUR 4.4 billion. YIT’s shares are listed on NASDAQ OMX Helsinki. www.yitgroup.com

YH Kodit Oy specialises in property development and building management, the ownership of rental and right-of-occupancy apartments and the provision of housing services. The company has 30 years of experience in its fields of expertise. It mainly operates in the Tampere Region and Southwest Finland. The company is owned by towns, municipalities and foundations in these regions. Each year, YH Kodit develops and supervises the construction of 600–1,000 new apartments. The company owns about 8,000 apartments and manages about 12,000 owner-occupied, right-of-occupancy and rental apartments. In collaboration with the Kotosalla Foundation, YH Kodit has developed about 1,000 apartments specifically designed for the elderly. YH Kodit and the Kotosalla Foundation are leading providers of housing services for senior citizens in Finland. www.yhkodit.fi, www.kotosalla.fi