• Investor news
  • 29.01.2021 08:45 CET

YIT started the construction of five apartment buildings in Russia in the last quarter of 2020

In October–December 2020, YIT started the construction of five new apartment buildings in Russia. The properties are located in St. Petersburg and Tyumen, and their combined value is approximately EUR 27 million. The buildings will consist of nearly 400 apartments in total. The residential start-ups will be entered in the order backlog of the last quarter of 2020.

In Pushkin, a suburb of St. Petersburg, YIT launched the sixth and last phase of the Inkeri area project. Four low-rise apartment buildings in the residential area will be constructed during the last phase. The five-storey buildings will have more than 250 apartments. The apartments will be completed in the third quarter of 2022. After their completion, the Inkeri residential area, which was launched in 2013, will have 29 low-rise apartment buildings with nearly 1,900 apartments in an area of 10 hectares.

In Tyumen, YIT started the construction of a new residential building complex in the city centre. This City Life project comprises five 15–25-storey buildings with more than 850 apartments. The apartment building project will be constructed in phases. This recently launched first phase includes the construction of an apartment building with more than 140 apartments, which will be completed in the last quarter of 2022. The City Life project is located next to YIT’s other residential project City Zen, which was completed at the end of 2020. Once the City Life project is completed in 2027, these projects will form a block of more than 2,000 apartments with an excellent location next to diverse services and in the vicinity of parks and cultural sites, which are highly appreciated by the city residents.

 

For further information, please contact:

Tommi Järvenpää, Vice President, Investor Relations, YIT Corporation, tel. +358 (0)40 576 0288, tommi.jarvenpaa@yit.fi
Teemu Helppolainen, Executive Vice President, Housing Russia segment, YIT Corporation, tel. +7 915 316 8216, teemu.helppolainen@yit.ru

 

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 construction company and urban developer. We develop and build apartments and living services, business premises and entire areas. Furthermore, we are specialised in complex infrastructure construction. Together with our customers, our nearly 8,000 professionals create more functional, attractive and sustainable cities and living environments. We operate in 10 countries: Finland, Russia, Sweden, Norway, the Baltic countries, the Czech Republic, Slovakia and Poland. In 2019, our revenue amounted to approximately EUR 3.4 billion. YIT Corporation’s share is listed on Nasdaq Helsinki Oy. www.yitgroup.com/fi