YIT starts the construction of Ranta-Tampella area project in Tampere, Finland

YIT Corporation Investor News November 2, 2016 at 2:00 p.m.

YIT Ranta-Tampella
YIT Ranta-Tampella

YIT starts the construction of Ranta-Tampella area development project in Tampere, Finland. The first phase to be constructed is Asunto Oy Tampereen Näsinkeula apartment building with 37 apartments which is part of Keulakortteli city block. The value of the building is almost EUR 20 million. Keulakortteli will consist of five housing co-operatives and it is tentatively estimated to be completed by 2022.

Ranta-Tampella has aroused strong interest and Näsinkeula apartments were reserved in an exceptionally short time when the advance publicity started in the beginning of September. The central location close the city centre and by the Näsijärvi lake creates a good basis for a unique residential area. The sale of apartments begins in November.

Ranta-Tampella area development project has many players and the total value of the project is approximately EUR 900 million. YIT is the biggest constructor at the area and it has building permit for floor area of 80,000 square metres for its plots. The preconstruction of the area was started in the summer 2014 and the whole area is expected to be completed by 2030.

During the coming years, Ranta-Tampella is one of the largest construction areas in Tampere. The area is constructed in many phases at Tampella lakeside area as a downtown extension by the shore of Näsijärvi lake. Over 2,000 new apartments will be constructed to the area of approximately 16.5 hectares.

For further information, please contact:

Hanna Jaakkola, Vice President, Investor Relations, YIT Corporation, tel. +358 40 5666 070, hanna.jaakkola@yit.fi 

Ilkka Kääriäinen, Area Director, YIT Construction Ltd., Tampere and Pohjanmaa, tel. +358 40 519 5953, ilkka.kaariainen@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