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YIT Corporation Investor News July 15, 2020 at 08:00 a.m.
YIT started four new apartment building projects in Russia in April–June. The projects are located in Yekaterinburg, St. Petersburg and Kazan. The total value of the projects exceeds EUR 50 million, with over 800 apartments to be completed. The start-ups of the apartments are booked in the order book of the second quarter of the year.
In Yekaterinburg, YIT started the construction of more than 160 apartments in the Rifei area development project. The apartments are due to be completed in the final quarter of 2021. YIT has been building the Rifei residential area in the suburb of Verkhnyaya Pyshma since 2011, with 15 projects completed to date. The area is scheduled to be fully completed in 2023, so the newly started project is one of the last in the area.
In St. Petersburg, YIT started the seventh phase of the Novo Orlovski area development project. The new apartment building will consist of over 270 apartments and they are due to be completed in the spring 2022. The Novo Orlovsky area is located in North St. Petersburg with excellent transport links and services right on the doorstep. YIT has been developing the area since 2014. In addition to residential buildings, YIT has built a school in the area and transferred a plot of land to the city to enable the construction of two day-care centres.
In Kazan, YIT started the fifth phase of the Green residential area. The new apartment building will consist of 170 apartments. The apartments are due to be completed in the final quarter of 2021. In development by YIT since 2016, the residential neighbourhood is located in a green area close to the Noksa River, in the vicinity of services and public transport links.
YIT also started construction of an area development project called Suita in Kazan. The project will consist of four apartment buildings of which the first one is now being started. The first building has over 200 apartments and underground parking for more than 150 cars. Suita is located close to Kazan’s historic city centre, close to many services and universities as well as culturally and historically significant landmarks. The first building is due to be completed in early 2022 and an international BREEAM environmental certificate will be sought for it. The site will become YIT's second BREEAM-certified project in Kazan.
For further information, please contact:
Tommi Järvenpää, Vice President, Investor Relations, YIT Corporation, tel. +358 (0)40 576 0288, email@example.com
Teemu Helppolainen, Executive Vice President, Housing Russia segment, YIT Corporation, tel. +791 5316 8216, firstname.lastname@example.org
Vice President, Investor Relations
Distribution: NASDAQ Helsinki, major media, www.yitgroup.com
YIT is the largest Finnish and significant North European construction company. We develop and build apartments and living services, business premises and entire areas. We are also specialised in demanding infrastructure construction. Together with our customers, our nearly 8,000 professionals are creating more functional, attractive and sustainable cities and environments. We operate in 10 countries: Finland, Russia, Sweden, Norway, the Baltic countries, the Czech Republic, Slovakia and Poland. Our revenue in 2019 was approximately EUR 3.4 billion. YIT Corporation’s share is listed on Nasdaq Helsinki Oy. www.yitgroup.com