YIT started several residential construction projects in July–September

YIT Corporation Investor News 27 October 2021 at 9:00 a.m.

Kuopion Kruuna
Kuopion Kruuna

YIT started several residential apartment building projects in Finland and the CEE countries in July–September 2021.

The largest projects started during the period were Asunto Oy Kuopion Kruuna, Asunto Oy Vantaan Viikuna, Asunto Oy Espoon Kronos, Asunto Oy Oulun Telegrammi, Asunto Oy Espoon Katajakallio, Asunto Oy Helsingin Friidu, the first phase of the Smartti Mokotów project in Warsaw, Poland, the Zurawie project in Gdańsk, Poland, Magnolia 1 in Bratislava, Slovakia, the VESI project in Prague, Czech Republic and phase II Ranua and phase III Kemi of the Lappi Hloubetin project in Prague, Czech Republic.

The total value of the aforementioned largest projects is nearly EUR 270 million. The start-ups of the apartments are booked in the order backlog of the third quarter of the year.

As Oy Kuopion Kruuna is located in the heart of the city, next to the Kuopio Market Square, Kuopio Market Hall, Kuopio City Library and the harbour.  The housing company comprises just over 60 apartments to be completed in autumn 2022.

As Oy Vantaa Viikuna is located in the Kaskelanrinne district near Hakunila, close to a wide range of services. The housing company comprises nearly 50 apartments to be completed in late 2022.

As Oy Espoon Kronos offers apartments by the sea in the Marinranta neighbourhood of Kivenlahti, Espoo. Kronos comprises nearly 40 apartments to be completed in December 2022.

As Oy Oulun Telegrammi is located near the city centre, next to Löytynpuisto park. The housing company comprises just over 60 apartments to be completed in late 2022.

As Oy Espoon Katajakallio is under construction in Nöykkiö, just a few hundred metres from the local school. The housing company comprises nearly 60 apartments to be completed in summer 2023.

As Oy Helsingin Friidu is located in Jätkäsaari, next to Hyväntoivonpuisto park. The housing company comprises approximately 60 apartments to be completed in summer 2023.

Smartti Mokotów is YIT’s first co-living project in Poland. Located in Warsaw, the first phase of the project comprises nearly 300 apartments to be completed in summer 2023. The project has been sold as a rental housing project to YIT’s partner NREP as part of a larger portfolio of rental housing projects in Warsaw.

The Zurawie project is the first phase of an area development project in Gdańsk, Poland, comprising nearly 250 apartments. The apartments will be completed autumn 2023. The area includes both housing and business premises. YIT started its operations in Gdańsk in 2019. 

Magnolia 1 is part of the extensive Nuppu project, which is YIT’s largest area development project in Bratislava’s Ruzinov district, 10 minutes from the city centre. Nearly 100 apartments will be completed in Magnolia in late 2022.

The VESI Hostivar project is located in Prague, next to Hostivar park, with excellent public transport connections. It comprises approximately 200 apartments to be completed by the beginning of 2024.

Phase II and phase III of the Lappi Hloubetin project in Prague comprise just over 200 apartments. Both will be completed in autumn 2023. They are part of the Suomi-Hloubetin area development project comprised of more than 1,000 apartments. Each phase of the project is named after a Finnish city and each street and square is named after a notable Finnish person.

For further information, please contact:
Tommi Järvenpää, Vice President, Investor Relations, YIT Corporation, tel. +358 40 576 0288, tommi.jarvenpaa@yit.fi 
Antti Inkilä, Executive Vice President, Housing Finland and CEE segment, YIT Corporation, tel. +358 40 864 4358, antti.inkila@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 urban developer and construction company. We 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. In 2020, our revenue amounted to approximately EUR 3.1 billion. YIT Corporation’s share is listed on Nasdaq Helsinki Oy. www.yitgroup.com