YIT has signed a contract with the Yrjö and Hanna Foundation on the construction of the Jätkäsaari Circular Economy Block in Helsinki

YIT Corporation Investor News 29 May 2023 at 1.30 p.m

YIT Jätkäsaari Circular Economy Block
YIT Jätkäsaari Circular Economy Block

YIT has signed a contract with the Yrjö and Hanna Foundation on the implementation of the Jätkäsaari Circular Economy Block in Helsinki as a turnkey contract. Accessible right-of-occupancy flats, rental apartments for seniors and commercial premises will be constructed in the property. The estimated total value of the project is approximately EUR 31 million, which will be specified during the planning that is now beginning, as will the number of square metres to be built in the block. The objective is to start the construction work at the turn of the year, and the Circular Economy Block is estimated to be completed in 2026.

The planning and construction of the Jätkäsaari Circular Economy Block as well as living there are based on the principles of circular economy and minimising carbon dioxide emissions. A long life cycle will be planned for the building, and the premises will be made adaptable so that they will serve the needs of users now and also in the future. The structures of the Circular Economy Block will be set up so that they can be easily separated and reused later on. The aim is to use in particular materials that are renewable, recycled or recyclable or less harmful to the environment, such as green concrete, in the construction. During the planning phase of the project, demolition sites will be identified and the possibilities of using building components such as bricks, doors, railings, glass walls, etc. will be explored. The circular economy elements used in the building will be left visible where possible. The property will also have smart technical building systems.

The circular economy will be taken into account during the use and maintenance phase in, for example, energy production, use and recovery, water consumption, housing and living, as well as transport. One additional objective is to enable the joint ownership, distribution and borrowing of goods through a sense of community.

Further information:
Samu Heikkilä, Investor Relations Manager, YIT, tel. +358 44 581 7979, samu.heikkila@yit.fi
Tom Ekman, EVP, Business Premises segment, YIT, media inquiries through Group Communications, tel. +358 44 743 7536, press@yit.fi

YIT Corporation

Tuomas Mäkipeska
Chief Financial Officer

Distribution: NASDAQ Helsinki, major media, www.yitgroup.com/en

YIT is the largest Finnish and a significant North European development and construction company. We develop and build sustainable living environments: functional homes, future-proof public and commercial buildings, infrastructure for smooth mobility, and renewable energy solutions to benefit the climate. We employ around 5,000 professionals in nine countries: Finland, Sweden, Norway, Estonia, Latvia, Lithuania, Czech Republic, Slovakia and Poland. Our revenue in 2022 was EUR 2.4 billion. YIT Corporation’s share is listed on Nasdaq Helsinki. Read more: www.yitgroup.com