YIT to develop and sell logistics properties

YIT Corporation Investor news 25 October, 2019, at 01.00 p.m.


YIT has signed a framework agreement on the development of three logistics properties and a sale agreement for the selling one of these properties to an international investor. The parties have agreed that the value of the contract will not be published.

Two of the properties are situated in the workplace area K3, which is developed by YIT in Viinikkala, Vantaa, Finland. The combined leasable area is approximately 30 100 square metres. The third property is situated in Hakkila, Vantaa, Finland, with the leasable area of 17 200 square metres.

The already sold property is under construction, and its tenants are Thomeko Oy and Sto Finexter Oy. The logistics property will be completed by the end of May 2020.

For further information, please contact:

Timo Lehmus, SVP, Real Estate Development, YIT, tel. +358 400 409 181, timo.lehmus@yit.fi

Hanna Malmivaara, Vice President, Communications, YIT Corporation, tel. +358 40 561 6568, hanna.malmivaara@yit.fi

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

YIT is the largest Finnish and a significant North European construction company. We develop and build apartments and living services, business premises and entire areas. We are also specialised in demanding infrastructure construction and paving. Together with our customers, our nearly 10,000 professionals are creating more functional, attractive and sustainable cities and environments. We work in 11 countries: Finland, Russia, Scandinavia, Baltic Countries, the Czech Republic, Slovakia and Poland. The new YIT was born when over 100-year-old YIT Corporation and Lemminkäinen Corporation merged on February 1, 2018. Our restated pro forma revenue for 2018 was approximately EUR 3.2 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com