YIT and OP-Rental Yield special fund to establish a company for housing investments
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YIT has signed the main contract for the residential project in the hospital area in Koskela, Helsinki
YIT Corporation Investor News July 9, 2020 at 08:00 a.m.
YIT and the City of Helsinki have signed a contract for the construction of HITAS, right of residence, rental and special apartments as well as an underground parking garage in the Koskela hospital area. The total value of the project’s main contract is approximately EUR 70 million, which will be entered in the order book of the third quarter of the year.
The preparatory construction work has begun in April 2020 in accordance with the pre-agreement. The estimated completion of the project is in the summer 2023. 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.
The company announced the pre-agreement of the project on April 2, 2020.
For further information, please contact:
Tommi Järvenpää, Vice President, Investor Relations, YIT Corporation, tel. +358 (0)40 576 0288, email@example.com
Tom Ekman, Executive Vice President, Business Premises, YIT Corporation, tel. +358 (0)40 771 2514, firstname.lastname@example.org
Harri Kailasalo, Executive Vice President, Infrastructure projects segment, YIT Corporation, tel. +358 (0)40 040 1538, 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 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