YIT and the German real estate investment company Quadoro have signed an agreement for the sale of the offices of the Bulevardikortteli block in Järvenpää. The total value of the transaction is approximately EUR 32 million, and it will be recorded in the third quarter order book. The complex has approximately 6,500 square metres and the largest tenants are OP Uusimaa and the city of Järvenpää.
The Bulevardikortteli block, previously known as Osuuskauppa Perhelä, is a priority project in Järvenpää. The construction of Bulevardikortteli began in the spring of 2021, and will be completed in phases. The offices will be completed in October 2022, and the entire block is estimated to be completed in 2025.
A total of about 300 apartments, office space and commercial premises will be built in the hybrid block. The buildings are connected by a beautiful yard deck and a parking garage for approximately 85 cars will be constructed under the block. The total floor area of the block is 30,500 m2.
For further information:
Tommi Järvenpää, Vice President, Investor Relations, YIT Corporation, tel. +358 (0)40 576 0288, email@example.com
Timo Lehmus, interim Executive Vice President of Partnership Properties segment, YIT Corporation, tel. +358 40 040 9181, firstname.lastname@example.org
Vice President, Investor Relations
Distribution: Nasdaq Helsinki, major media, www.yitgroup.com
YIT is Finland's largest construction company and a significant player in the Northern European construction market. Our goal is to create more sustainable, functional and attractive cities and living environments. We develop and build apartments, business premises and entire areas. We also specialise in demanding infrastructure construction. We own properties together with our partners, which supports the implementation of our significant development projects. We also provide our customers with services that increase the value of properties. We employ approximately 7,400 professionals in ten countries: Finland, Russia, Sweden, Norway, Estonia, Latvia, Lithuania, the Czech Republic, Slovakia and Poland. Our revenue in 2020 was approximately EUR 3.1 billion. YIT Corporation’s share is listed on Nasdaq Helsinki Oy. www.yitgroup.com