YIT starts the construction of an apartment building in Riga, Latvia

YIT CORPORATION Investor News May 25, 2016 AT 1:00 p.m.

YIT starts the construction of an apartment building in Riga, Latvia. The start-up is the last phase of a residential project named Bikerziedi, and its value is over EUR 10 million. The commissioning is expected to take place in the autumn of 2017. The five-storey apartment building will comprise 90 apartments, with a total living area of around 5,000 square metres.

Customers’ interest towards the previous phases of the Bikerziedi project has been on a high level, in addition to which the recent pick up in Riga’s residential market is estimated to support the demand. The project is located in a peaceful residential area, and most of the apartments are compact two- or three-room apartments. Approximately 1,900 square metres of commercial space will be constructed in connection with the building accommodating a grocery store, among others.

For further information, please contact:

Sanna Kaje, Vice President, Investor Relations and M&A, YIT Corporation, tel. +358 50 390 6750, sanna.kaje@yit.fi
Tom Sandvik
, Head of the Baltic countries and Central Eastern Europe business division, tel. +358 400 617 807, tom.sandvik@yit.fi 


Sanna Kaje
Vice President, Investor Relations and M&A

Distribution: NASDAQ Helsinki, major media, www.yitgroup.com 

YIT creates sustainable cities and better living environment by developing and constructing housing, business premises, infrastructure and entire areas. We focus on providing a first-class customer experience, high quality and continuous development of our diverse expertise. Our operating area covers Finland, Russia, the Baltic countries, the Czech Republic, Slovakia and Poland. In 2015, our revenue amounted to nearly EUR 1.7 billion, and we employ about 5,300 employees. Our share is listed on Nasdaq Helsinki. www.yitgroup.com