YIT to build rental housing for EUR 30 million

YIT to build rental housing for EUR 30 million

YIT will start the construction of two non-subsidised rental housing projects in Järvenpää, one for ICECAPITAL Housing Fund III Ky and one for VVO Kodit Oy. The total value of the projects is approximately EUR 13 million, and the projects will be completed in autumn 2015. The two apartment buildings that are designed by YIT on its own plots will contain close to 80 apartments, with a total living area of approximately 4,000 square metres. The project built for ICECAPITAL is part of the pre-agreement on the construction of non-subsidized investment properties in the Helsinki metropolitan area, signed between YIT and ICECAPITAL Housing Fund III Ky in the end of 2013.

In addition, YIT has won VVO Kodit Oy’s competitive bidding on the construction of a non-subsidised rental housing project in Lahti. The value of the project is approximately EUR 17 million, and it will be completed by the beginning of 2016. The four apartment buildings will contain approximately 130 apartments, with a total living area of slightly under 7,000 square metres.

For further information, please contact:

Sanna Kaje, Vice President, Investor Relations, YIT Corporation, tel. +358 50 390 6750, sanna.kaje@yit.fi

Harri Isoviita, Senior Vice President, Residential Construction, YIT Construction Ltd, tel. +358 40 553 3833, harri.isoviita@yit.fi

Jukka Pohjola, Vice President, Building Construction Southeastern Finland, YIT Construction Ltd, tel. +358 40 021 6618, jukka.pohjola@yit.fi

YIT CORPORATION

Sanna Kaje
Vice President, Investor Relations

Distribution: NASDAQ OMX, principal media, www.yitgroup.com

YIT is a construction industry leader. We create better living environments in Finland, Russia, the Baltic countries, the Czech Republic and Slovakia. Over 100 years of experience have secured for us a strong market position: We are the largest housing developer and one of the largest business premises and infrastructure developers in Finland, and the most significant foreign housing and area developer in Russia.  Our vision is to stay one step ahead – while caring for our customers, partners and personnel. We have more than 6,000 employees in seven countries. In 2013, our revenue amounted to nearly EUR 1.9 billion. Our share is listed on Nasdaq OMX Helsinki. www.yitgroup.com