YIT acquired a plot for an area development project in Warsaw, Poland. The acquired plot is located in Warsaw’s Białołęka district in the north eastern part of the city. The project consists of over 400 apartments and will be executed in 4 stages. Construction of the first phase is estimated to start in the fourth quarter of 2017. The plot is on an area of alteration of use and it is approximately 30,000 square metres.
The plot acquisition supports YIT’s strategic target to grow business in the CEE countries. YIT started its operations in Poland in autumn 2015 to tap into the opportunities provided by one of Europe’s biggest residential markets. In spring 2016 YIT started construction and sale of its first residential project in Warsaw consisting of 125 apartments.
For further information, please contact:
Tomasz Konarski, Managing Director, YIT Development, tel. +48 606 504 403, email@example.com
Hanna Jaakkola, Vice President, Investor Relations, YIT Corporation, tel. +358 40 5666 070, firstname.lastname@example.org
YIT creates sustainable cities and better living environment by developing and constructing housing, business premises, infrastructure and entire areas. We focus on providing a first-class customer experience, high quality and continuous development of our diverse expertise. 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. www.yitgroup.com