YIT invests in a new Finnish joint venture that focuses on rental apartments
- Investor news
YIT has agreed on implementation of residential projects in Finland worth approximately EUR 66 million in total
YIT Corporation Investor News April 16, 2018 at 8:00 a.m.
YIT has agreed on implementation of rental apartment projects in Finland worth approximately EUR 66 million.
YIT and Ice Capital Housing Fund IV Ky signed a pre-agreement on the construction of rental apartments in the metropolitan area in Finland. The pre-agreement covers approximately 300 apartments and the total value of the agreement is approximately EUR 56 million. The projects are estimated to be started during 2018 and they will be completed mainly by the end of 2019. The projects will be booked in the order backlog once the individual deals are closed.
YIT and OP Vuokratuotto non-UCITS Fund have signed an agreement on the construction of rental apartments in the Southern Finland. The value of the agreement is approximately EUR 10 million and the sale is booked in the second quarter of the year. The project comprises approximately 70 apartments to be completed by summer 2019.
For further information, please contact:
Hanna Jaakkola, Vice President, Investor Relations, YIT Corporation, tel. +358 40 5666 070, firstname.lastname@example.org
Antti Inkilä, Executive Vice President, Housing Finland and CEE segment, YIT Corporation, tel. +358 40 864 4358, email@example.com
Vice President, Investor Relations
Distribution: Nasdaq Helsinki, major media, www.yitgroup.com
YIT is the largest Finnish and significant North European construction company. We develop and build apartments, business premises and entire areas. We are also specialised in demanding infrastructure construction and paving. Together with our customers our 10,000 professionals are creating more functional, more attractive and more sustainable cities and environments. We work in 11 countries: Finland, Russia, Scandinavia, the Baltic States, the Czech Republic, Slovakia and Poland. The new YIT was born when over 100-year-old YIT Corporation and Lemminkäinen Corporation merged on February 1, 2018. Our pro forma revenue for 2017 was over EUR 3.8 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com