YIT has signed a pre-agreement regarding the main contract for a residential project in the hospital area in Koskela, Helsinki

YIT Corporation Investor News April 2, 2020 at 08:00

Koskelan alue
Koskelan alue

YIT and the City of Helsinki have agreed on the construction of HITAS, right of residence, rental and special apartments as well as an underground parking garage in the Koskela hospital area. The construction work for the pre-agreement will begin in April 2020. The estimated completion of the project is in the summer 2023. The total value of the project’s main contract is approximately EUR 70 million, which will be entered in the order backlog when the actual contract is signed. The objective is to sign the actual contracts during the second quarter of the year.

The contract comprises three housing companies with a total of 365 apartments as well as an underground parking garage that will be built on two floors under the yard deck.

“We are glad to have a significant role in developing the Koskela area in an even more dynamic direction,” explains YIT’s Kimmo Koivumäki, Vice President, Tender-Based Contracting in Residential Construction.

“The project has demanding establishment and foundation conditions that require special competence. YIT has solid experience in earth and foundation engineering, and we will be able to utilise our strong professional skills in this project,” tells YIT’s Hannu Ratamäki, Vice President, Foundation and Special Engineering.

For further information, please contact:
Tommi Järvenpää, Vice President, Investor Relations, YIT Corporation, tel. +358 (0)40 576 0288, tommi.jarvenpaa@yit.fi

Esa Neuvonen, Executive Vice President, Business Premises and Partnership Properties, YIT Corporation, tel. +358 (0)40 500 1003, esa.neuvonen@yit.fi
Harri Kailasalo, Executive Vice President, Infrastructure projects segment, YIT Corporation, tel. +358 (0)40 040 1538, harri.kailasalo@yit.fi


Tommi Järvenpää
Vice President, Investor Relations

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

YIT is the largest Finnish and a significant North European construction company and urban developer. We develop and build apartments and living services, business premises and entire areas. We are also specialised in demanding infrastructure construction. Together with our customers, our nearly 8,000 professionals are creating more functional, attractive and sustainable cities and environments. We work in 10 countries: Finland, Russia, Sweden, Norway, the Baltic countries, Czech Republic, Slovakia and Poland. Our revenue in 2019 was approximately EUR 3.4 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com