YIT has agreed on implementation of residential projects in Finland worth approximately EUR 160 million in total
- Investor news
YIT started several residential apartment building projects in Finland and the CEE countries in January-March
YIT Corporation Investor News April 15, 2019 at 8:30 a.m.
YIT started several apartment building projects in Finland and the CEE countries in January–March 2019. The largest of the newly started projects are Oulun Asemantorni, Espoon Peurapuisto, Turun Suntiontorni and Kauniaisten Herttua in Finland and Suomi Hloubetin Pori in Prague, the Czech Republic. The total value of these projects is over EUR 80 million. The start-ups of the apartments are booked in the order backlog of the first quarter of 2019.
Oulun Asemantorni 2 is located in central Oulu, in the immediate vicinity of the railway station. The value of the project is approximately EUR 20 million, with approximately 120 apartments to be completed in early 2020.
Espoon Peurapuisto is located in the highly valued Sepänkylä district of Espoo, with good transport connections. The value of the project is over EUR 15 million, with approximately 70 apartments to be completed in autumn 2020.
Turun Suntiontorni is located in Turku’s Nummi district, in the immediate vicinity of the University, University Hospital and Kupittaa’s technology district. The value of the project is over EUR 15 million, with over 80 apartments to be completed in late spring 2020.
Kauniaisten Herttua will be built near the Koivuhovi train station, in a new residential block, with easy access to services in Kauniainen and Espoo. The value of the project is approximately EUR 15 million, with more than 50 apartments to be completed in early 2021.
In Prague, the Czech Republic, the construction of Suomi Hloubetin Pori has begun. The value of the project is approximately EUR 20 million, with more than 80 apartments to be completed in early 2021.
In addition, Nuppu Housing s.r.o, an associated company of YIT, has started construction on the fifth phase of the Nuppu area development project in Bratislava, Slovakia. The value of the project is over EUR 10 million, with nearly 100 apartments to be completed in autumn 2020. Nuppu is YIT’s largest area development project in Bratislava’s Ruzinov district, 10 minutes from the city centre. Approximately 1,000 apartments will be built in the area, in total. Phases 1–4, which are completed or currently under construction, comprise more than 400 apartments.
For further information, please contact:
Hanna Jaakkola, Vice President, Investor Relations, YIT Corporation, tel. +358 40 566 6070, firstname.lastname@example.org
Antti Inkilä, Executive Vice President, Housing Finland and CEE segment, YIT Corporation, tel. +358 (0)40 864 4358, email@example.com
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 and paving. Together with our customers, our almost 10,000 professionals are creating more functional, more attractive and more sustainable cities and environments. We work in 11 countries: Finland, Russia, Scandinavia, the Baltic Countries, the Czech Republic, Slovakia and Poland. The new YIT was born when over 100-year-old YIT Corporation and Lemminkäinen Corporation merged on February 1, 2018. Our pro forma revenue for 2018 was approximately EUR 3.8 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com