YIT launches IKEA store construction in Vilnius Lithuania

INVESTOR NEWS 4 July 2012 at 11:00 a.m.



YIT launches IKEA store construction in Vilnius Lithuania

YIT Kausta, Lithuanian subsidiary of YIT Construction, has started construction of the IKEA store in Vilnius, Lithuania. The land plot is located in the vicinity of the Vilnius airport. The value of the contract is over 15 million euros, and the project is scheduled to be completed in the summer 2013. The total size of the store will be approximately 26.000 sq. m. UAB “FELIT”, which operates IKEA franchise in Lithuania, chose the construction company through a tender process. 

– For us, the shown confidence in developing of this project is very important. When trying to attract investments into Lithuania it is very important that such a famous trademark as IKEA expands its business to our country, says YIT Kausta Managing director Kęstutis Vanagas.

More information:
Tom Sandvik, Head of Baltic countries and Central Eastern Europe division, International Construction Services, +358 400 617 807, tom.sandvik@yit.fi
Kestutis Vanagas, Managing Director, YIT Kausta, +370 37 452 348, kestutis.vanagas@yit.lt



Kristina Broman
Acting Vice President, Corporate Communications


YIT is celebrating its 100th anniversary in 2012. The company was established in the Grand Duchy of Finland in 1912. Today, YIT is a leading European service company in building systems, construction services and services for industry. Our 26,000 professionals serve customers in 14 countries in the Nordic and Baltic countries, Russia and Central Europe. We have grown together with our customers and developed our services in line with the changes taking place in different societies. We intend to continue on that track. Our vision is to lead the way in creating and maintaining good living environments. In 2011, YIT's revenue was approximately EUR 4.4 billion. YIT's shares are listed on NASDAQ OMX Helsinki. www.yit.fi

YIT Kausta is one of the biggest construction and real estate development companies in Lithuania. It manages construction, reconstruction and renovation works of business premises. Additionally, in Lithuania YIT operates in residential markets by assuming responsibility from the development of projects to the sale of the apartments. The company has a large experience in construction of administration, public, trade, industrial, environmental buildings and residential houses. Kausta has operated in Lithuania since 1966 and as part of YIT Group since 1999.