YIT is building 129 apartments for ET-Hoivakiinteistöt Oy and TA -Asumisoikeus Oy in Kuopio, Finland

YIT Construction Ltd, ET-Hoivakiinteistöt Oy and TA-Asumisoikeus Oy concluded a contract on the construction of 129 sheltered accommodations, rental and right-of- occupancy apartments in Männistö, Kuopio, Finland. Construction will start immediately, and the apartments will be completed in the second half of 2014 and in the spring of 2015. The value of the agreement is approximately EUR 15 million.

The apartments will be located on the plot of the Männistö School built in the 1930s, which is under conservation. The old school will be renovated into sheltered accommodations and rental apartments for the elderly. The physical education hall and library wing built later will be demolished to make way for a new building where rental apartments will be completed. Car parking will be located under a deck that covers the entire yard, over which a comfortable courtyard will be built.

Forty-four of the the 129 flats are sheltered accommodations, 49 are rental apartments and 36 are right-of-occupancy apartments. Ease of movement and sufficient support equipment has been taken into account in all of the flats.

“The site is regionally important for YIT due to employment and its diversity. There will be a lot of new things on the plot, but changing old school facilities into serviced apartments is also a really interesting renovation project. We have been able to muster the best staff in the area for the project, as well as our familiar partners. We expect the construction year to be diversified and full of work,” says YIT Regional Director Risto Pennanen.

The Männistö area is located at a distance of two kilometers from the center of Kuopio. There are already a lot of sheltered accommodations built for senior citizens in the area, such as the 40 sheltered accommodations for the elderly constructed by YIT and completed in 1995, and more is coming in the next few years. The site now being constructed is well suited to the senior strategy of Kuopio and the focusing of nursing services in the same area. Männistö is thus becoming senior citizens’ own campus area. 

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For further information, please contact:

Risto Pennanen, YIT Regional Director, Building Construction Kuopio, YIT Construction Ltd,
tel. +358 (0)40 551 5939,

Sanna Kaje, YIT Vice President, Investor Relations, YIT Corporation,
tel. +358 (0)50 390 6750,

Markku Vartiainen, Constructor manager, TA-Rakennuttaja Oy, tel. +358 (0)44 7735 577, markku.vartiainen@ta.fi

Seija Harinen, City of Kuopio, tel. +358 (0)44 7185 605, seija.harinen@kuopio.fi

YIT is a construction industry leader. We create better living environments in Finland, Russia, the Baltic countries, the Czech Republic and Slovakia. Over 100 years of experience have secured for us a strong market position: We are the largest housing developer and one of the largest business premises and infrastructure developers in Finland, and the most significant foreign housing and area developer in Russia. Our vision is to stay one step ahead – while caring for our customers, partners and personnel. We have more than 6,000 employees in seven countries. In 2012, our revenue amounted to approximately EUR 2 billion. Our shares are listed on Nasdaq OMX Helsinki. www.yitgroup.com