YIT has acquired a plot for an area development project in Prague, Czech Republic. The plot is located in a wanted residential area in the 5thdistrict of Prague, close to the city center with good public transport connections.
The floor area of the project to be constructed in three or four phases is approximately 30 000 square metres with 350-400 apartments and a few business premises. The project comprises new buildings and old buildings to be renovated. The new building has a valid building permit, which allows a fast start-up. Construction of the first phase is estimated to start in spring 2017.
The plot acquisition supports YIT’s strategy to grow its residential business in the CEE countries.
For further information, please contact:
Hanna Jaakkola, Vice President, Investor Relations, YIT Corporation, tel. +358 40 5666 070, email@example.com
Tom Sandvik, Head of the Baltic countries and Central Eastern Europe business division, YIT Construction Ltd., tel. +358 400 617 807, firstname.lastname@example.org
Vice President, Investor Relations
Distribution: NASDAQ Helsinki, major media, www.yitgroup.com
YIT creates better living environment by developing and constructing housing, business premises, infrastructure and entire areas. Our vision is to bring more life in sustainable cities. We want to focus on caring for customer, visionary urban development, passionate execution and inspiring leadership. Our growth engine is urban development involving partners. Our operating area covers Finland, Russia, the Baltic countries, the Czech Republic, Slovakia and Poland. In 2015, our revenue amounted to nearly EUR 1.7 billion, and we employ about 5,300 employees. Our share is listed on Nasdaq Helsinki. www.yitgroup.com