YIT starts the construction of care projects in Espoo and Tampere

YIT Corporation Investor News December 15, 2016, at 8:00 a.m.

Niemenrannan Johannes YIT
Niemenrannan Johannes YIT

YIT has started the construction of the Tenava day-care centre in Espoo and the Niemenrannan Johannes assisted living facility in Tampere. The value of these contracts is approximately EUR 13 million. The projects are a part of the framework agreement concluded with the Swedish property investment company Hemsö Fastighets AB for the construction of nine care facilities in various parts of Finland. The projects starting now are the first ones executed for this framework agreement. If all projects under the framework agreement will be implemented, their total value will be around EUR 75 million.

“We are extremely pleased to have signed the framework agreement, and really look forward to engaging in a long-term partnership with YIT. Our goal is to contribute to the development of new housing solutions for different housing needs, such as those of the elderly,” says Jarkko Leinonen, Country Manager for Hemsö Fastighets Ab in Finland.

The construction of the Tenava-Tilli day-care centre was started in October, and the project is due to be completed in the summer of 2017. There will be approximately 140 new day-care places. The user of the premises will be Suomen Tenava päiväkodit Oy, owned by the Norwegian Norlandia Care Group. “The day-care centre offers nature-oriented early childhood and preschool education based on small-group pedagogy. The day-care centre and its environment designed together with our partners offer an excellent starting point for the activities”, says Olli Lehtisalo, Managing Director for Suomen Tenava päiväkodit Oy.

The construction of the Niemenrannan Johannes assisted living facility was started in December, and the project will be completed at the end of 2017. YIT has concluded a lease for the property with Attendo Oy. “This assisted living facility responds to the increasing need for care and living services for the elderly in the Tampere region. Niemenranta is a new, developing and cosy neighbourhood, an attractive green area,” says Tiina Talonen, Regional Director for Attendo.

YIT is also working on another project for the older generation in the Niemenranta district, Nestorin Aarre, providing owner-occupied apartments. Its construction started in 2015 already. YIT develops and constructs versatile living opportunities for especially the elderly according to the YIT Care concept. “It is our objective to make sure that older people can live at home for as long as possible, or even their whole life in the best case,” says Anne Suojoki, who is responsible for the development of YIT’s care facility projects.

Further information:

Esa Neuvonen, Chief Financial Officer, YIT Corporation, tel. +358 40 500 1003, esa.neuvonen@yit.fi  
Hedi Grass
, Transaction Specialist, YIT Construction Ltd, tel. +358 40 7338 821, hedi.grass@yit.fi


Hanna Jaakkola
Vice President, Investor Relations

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

YIT creates better living environment by developing and constructing housing, business premises, infrastructure and entire areas. Our vision is to bring more life in sustainable cities. We want to focus on caring for customer, visionary urban development, passionate execution and inspiring leadership. Our growth engine is urban development involving partners. 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