YIT and the OP-Rental Yield special fund have agreed on the construction of four rental apartment projects in Finland. The contracts cover more than 180 apartments.
The final implementation contract has been signed for the first residential project and it will be entered in the order backlog for the first quarter of the year. Furthermore, preliminary contracts have been signed for the three remaining projects and they will be entered in the order backlog when the respective project-specific transactions are signed during the second quarter of the year.
YIT and the OP-Public Services Real Estate fund have also signed a contract concerning an assisted living facility construction that includes a group home for 30 residents and 31 apartments. The project will be entered in the order backlog of the first quarter of the year.
The total value of the contracts is approximately EUR 44 million. The construction of the projects will gradually start in spring 2020 and they are due to be completed during the spring and summer 2021.
For further information, please contact:
Tommi Järvenpää, Vice President, Investor Relations, YIT Corporation, tel. +358 (0)40 576 0288, firstname.lastname@example.org
Antti Inkilä, Executive Vice President, Housing Finland and CEE, 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 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 operate in 10 countries: Finland, Russia, Sweden, Norway, the Baltic countries, the 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