YIT launches the first phase of construction at Seinäjoki station and sells Asematalo to eQ

YIT Corporation Investor News August 30, 2022 at 04:00 p.m.

YIT veturikortteli ilmakuva
YIT veturikortteli ilmakuva

YIT has sold the share capital of Kiinteistö Oy Seinäjoen Asematalo to the eQ Community Properties real estate fund and signed contract agreements on the construction of the Aallokko family service centre as well as Asematalo, which will include a new passenger hall, in the area of Seinäjoki station. The total scope of the office and business construction project will be approximately 18,000 m2, and YIT’s share of the value of the agreements will be more than EUR 50 million. The agreements will be included in the order book during the third quarter of 2022, and the facilities are estimated to be completed in the summer of 2024. The City of Seinäjoki and the wellbeing services county of South Ostrobothnia will be the main users of the premises with long leases.

The Aallokko family service centre and Asematalo will be part of the hybrid project in the first development phase of the Seinäjoki station area to be built by YIT. The project will also include the construction of three residential buildings and a parking hall. The first phase covers a total of approximately 40,000 m2 and has been designed in line with the principles of sustainable development, taking into account the lifecycle of the building. The objective is to earn the LEED Gold certification for Aallokko and Asematalo.

“The development and construction of the Seinäjoki station is a hybrid project representing the strategic goals of YIT and demonstrating YIT’s top competence as an urban developer. Upon its completion, the station area will be one of the most important public transport hubs in Finland, providing homes, workplaces as well as a great setting for human connections,” says Tom Ekman, EVP, Business Premises segment at YIT.

For further information, please contact:
Tommi Järvenpää, Vice President, Investor Relations, YIT, tel. +358 40 576 0288, tommi.jarvenpaa@yit.fi 
Tom Ekman, EVP, Business Premises segment, YIT, media inquiries through Group Communications, tel. +358 44 743 7536, press@yit.fi

YIT Corporation

Tommi Järvenpää
Vice President, Investor Relations

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

YIT is the largest Finnish and a significant North European development and construction company. For 110 years, we have been creating better living environments for our customers: We develop and build functional homes for sustainable living, future-proof public and commercial buildings as well as infrastructure for a smoother flow of people, businesses and society. We employ 5,500 professionals in nine countries: Finland, Sweden, Norway, Estonia, Latvia, Lithuania, the Czech Republic, Slovakia and Poland. Our revenue in 2021 was EUR 2.7 billion. YIT Corporation’s share is listed on Nasdaq Helsinki Oy. www.yitgroup.com