YIT and the OP-Rental Yield special fund have signed preliminary contracts on the construction of seven non-subsidised apartment building projects for rental use.
The parties have agreed that the total value of the contract will not be published.
The projects cover the construction of over 300 rental apartments. Project-specific contracts will be signed before the start of construction for each project. The aim is to start the projects within 2022 and complete them by the end of 2023 or in early 2024. The projects are located in various parts of Finland.
The projects will be implemented using plots of land managed or owned by YIT. The construction covered by the projects will not tie up any capital from YIT.
“We are pleased to continue our strong cooperation with the OP-Rental Yield special fund. These projects are a good example of our focus on building functional and sustainable homes and living environments in growing cities to facilitate sustainable living and sustainable lifestyles,” says Antti Inkilä, Executive Vice President at YIT.
“The construction projects we have agreed upon represent the continuation of excellent cooperation between the OP-Rental Yield fund and YIT,” says Antero Tenhunen, the Portfolio Manager in charge of the fund at OP Real Estate Asset Management.
For further information, please contact:
Tommi Järvenpää, Vice President, Investor Relations, YIT, tel. +358 40 576 0288, email@example.com
Antti Inkilä, Executive Vice President, Housing segment, YIT, media enquiries through Group Communications, tel. +358 44 743 7536, firstname.lastname@example.org
Vice President, Investor Relations
Distribution: Nasdaq Helsinki, major media, www.yitgroup.com
YIT is the largest Finnish and a significant North European development and construction company. For 110 years, we have been creating better living environments for our customers: we develop and build functional homes for sustainable living, future-proof public and commercial buildings, and infrastructure for smoother flow of people, businesses and society. We employ 5,500 professionals in nine countries: Finland, Sweden, Norway, Estonia, Latvia, Lithuania, the Czech Republic, Slovakia and Poland. Our revenue in 2021 was EUR 2.7 billion. YIT Corporation’s shares are listed on Nasdaq Helsinki Oy. www.yitgroup.com