YIT to construct a shopping centre in Vilnius, Lithuania
YIT has signed a contracting agreement with VPH, a Canadian venture capital firm, to build the first phase of a shopping centre named Nørdika in Vilnius, Lithuania. The value of the contract is approximately EUR 11 million, and the project is financed by VPH. The first phase will be completed in autumn 2015.
The first phase of the shopping centre will have a floor area of 18,000 square metres and will feature grocery stores, electronics shops and sportswear shops, among others. It will be located near the Vilnius Airport, next to IKEA. YIT has completed many property development projects in Lithuania; the latest of which was the Grand Office business premise in Vilnius.
“We make use of the latest technology and pay particular attention to energy efficiency. Our reputation as a reliable and high-quality operator in Lithuania was the decisive factor that won us the project”, says Kestutis Vanagas, Managing Director of YIT Kausta, the Lithuanian subsidiary of YIT.
For further information, please contact:
Sanna Kaje, Vice President, Investor Relations, YIT Corporation, tel. +358 50 390 6750, firstname.lastname@example.org
Tom Sandvik, Head of the Baltic Countries and Central Eastern Europe division, YIT Construction Ltd, tel. +358 400 617 807, email@example.com
Vice President, Investor Relations
Distribution: NASDAQ OMX, principal media, www.yit.fi
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 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 taking care of our customers, partners and personnel. We have more than 6,000 employees in seven countries. In 2013, our revenue amounted to approximately EUR 1.9 billion. Our share is listed on NASDAQ OMX Helsinki. www.yitgroup.com