Regenero, a joint venture formed by YIT and HGR Property Partners, has acquired its first property in Otaniemi, Espoo

YIT Corporation Press Release January 10, 2017 at 2:00 p.m.

Regenero, a joint venture formed by YIT and HGR Property Partners, has acquired a property in Espoo for a development project. The office building is situated at Tietotie 6 in Otaniemi and has 23,000 m² of lettable area. In addition, the property has a parking hall for 400 cars. This is the first development project of Regenero, which was founded in 2016.

Regenero focuses on developing sizeable combined apartment, commercial and business premises projects in the Helsinki Metropolitan Area. The projects to be implemented are of considerable size and situated in key locations close to good transport connections.

According to its strategy, YIT continues to strengthen project development in growth centres. Regenero supports the innovation and implementation of long-term development projects. “The joint venture combines the strengths of both YIT and HGR. Cooperation has been excellent and we are enthusiastic about the first property we have acquired,” says Juha Kostiainen, Senior Vice President for Sustainable Urban Development at YIT.

“Tietotie 6 is situated less than a hundred metres from the future Aalto University metro station. The property will offer an outstanding working environment for more than a thousand people,” says Kari Helin, CEO of HGR.

Over the last ten years, YIT and HGR Property Partners have worked together in implementing several successful property development projects. Regenero will deepen this cooperation and lay the foundation for future growth initiatives.

For further information, please contact:

Juha Kostiainen, Senior Vice President, Sustainable Urban Development, YIT Corporation, tel. +358 400 721 475,

Hanna Malmivaara, Vice President, Communications, YIT Corporation, tel. +358 40 561 6568,

Kari Helin, CEO, HGR Property Partners, tel. +358 40 557 0570,

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.

HGR Property Partners is a real estate development company that invests in office properties and development projects in the Helsinki Metropolitan Area. HGR Property Partners owns properties along with capital investors.  Cooperation is based on HGR Property Partners being responsible for the operative business. Our strength is individual solutions that generate added value for our customers. This means discovering and implementing development opportunities, working in a smooth and flexible way, as well as developing a deep understanding of customer needs.