INVESTOR NEWS 1 MARCH, 2012 at 11:00




YIT has started construction of office premises for more than 1000 employees in Kaunas, Lithuania. The value of YIT’s contract is more than EUR 16 million. The investor of the project is a commercial real estate company Baltic Shopping Centers. The project is developed by a commercial property company Baltic RED. The key tenant of the premises will be Senukų prekybos centras - the largest retail chain, selling construction, repair and household goods in the Baltic countries. The project is scheduled for completion in March 2013.

The total area of the building including the underground car parking will cover 17 000 sq. m. The building resembling the letter H will include office premises, meeting rooms, a conference room and catering facilities. The courtyards of the building are used for establishing recreational and resting areas for the people working in the building. In addition, next to the building there will be a car parking with the capacity of 600 parking lots. 

- When designing the complex, we tried to find the best solution in both economic and technical terms. Our aim is to assure both profitability of the investment and efficient use of the premises, says Rasa Vyšniauskienė, Marketing Manager of the Baltic RED company.

The building comprises both separate office rooms and open plan office. The premises have been planned in the way that they can be easily modified according to user’s needs.

- This project is subject to the highest quality requirements and, therefore, we have precisely planned all the project management work. We have experience in construction of modern office buildings and we have cooperated with the Baltic RED company already for several years, says Kęstutis Vanagas, the General Manager of YIT Kausta.

YIT together with the Baltic RED company have also completed BANGNIS retail park in Vilnius and MEGA shopping and leisure center in Kaunas.

More information:
Tom Sandvik, Head of 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



Virva Salmivaara
Senior Vice President, Corporate Communications



YIT celebrates 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.yitgroup.com

YIT Kausta is one of the biggest construction and real estate development companies in Lithuania. It manages construction, reconstruction and renovation works of the different sort of business premises. Additionally, 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 since 1999.