YIT chosen as the Garden Helsinki project’s developer partner and constructor

YIT Corporation Press release 30 November 2018, at 9:30 a.m.

Helsinki Garden North Entance
Helsinki Garden North Entance

Garden Helsinki is one of Finland’s largest urban development projects. Combining housing, entertainment and sports facilities, the new block will create close to a thousand new permanent jobs to Helsinki. The project’s preparation process is moving ahead and YIT has now been selected as its constructor and developer partner.

The new meeting place for Helsinkians will combine housing and recreational facilities both inside the block and in its garden-like outdoor space. The city block will host events as well as provide sports and restaurant services. It will also include a lot of open public space that will inject significant new life into the urban environment.

“Helsinki is an increasingly international city that lacks a meeting place that combines sports, entertainment and daily life. In planning Garden Helsinki, we have put particular emphasis on how it will serve as a stage for the daily life, hobbies and experiences of local residents. It will also enhance people’s time management by housing recreational facilities and services under one roof,” says Timo Everi, Chairman of the Board of Project GH.

A sustainable city offers diverse housing and more life

Garden Helsinki is an excellent fit with YIT’s urban development strategy. As Finland’s largest construction company, YIT wants to be involved in building and developing more sustainable cities that enable low-emission consumption habits while also supporting people’s diverse housing needs and lifestyles.

An attractive city maximises the possibility of spontaneous social encounters. Garden Helsinki will constitute a unique combination of everyday meetings and special events related to sports and recreation, along with the services that support these and sustainable housing in a central location close to the heart of Helsinki.

“The Garden Helsinki project perfectly embodies our vision of more life in sustainable cities. In the increasingly dense urban environment, it will combine several different and attractive functions at a location that benefits from excellent public transport connections,” says Juha Kostiainen, Executive Vice President, Urban Development at YIT.

A privately funded project that will deliver significant economic benefits to the city

Garden Helsinki will have a significant positive impact not only on the lives of the local residents, but also Helsinki’s finances. In addition to its permanent benefits, the project will generate some EUR 100 million in revenue for the city during the construction phase and provide jobs for approximately 3,500 people.

Garden Helsinki will be funded by private investment. It will be largely built underground, including a sports and event arena that meets international standards. The parts that will be above ground will mostly consist of business premises, hotel facilities and apartments. The architects responsible for Garden Helsinki’s design are Tuomas Silvennoinen from PES Architects and Tuomas Seppänen from B&M Architects.

Next, the project will be discussed by the City of Helsinki’s Urban Environment Committee, from where it will proceed to the City Council and the City Board.

Further information and requests for interviews:

Juha Kostiainen, Executive Vice President, Urban Development, YIT Corporation, Tel. +358 (0)400 721 475, juha.kostiainen@yit.fi

Hanna Malmivaara, Senior Vice President, Communications, YIT Corporation, Tel. +358 (0)40 561 6568, hanna.malmivaara@yit.fi

Petteri Linnavalli, Communications Manager, Projekti GH Oy, Tel. +358 (0)40 820 2655, petteri.linnavalli@projektigh.fi

Garden Helsinki is a property development project planned for Nordenskiöldinkatu in Helsinki’s Töölö district. The plans for the Garden include a modern event arena that meets the highest international standards, along with a comprehensive range of related services as well as everyday services for use by local residents. Garden Helsinki represents a 2020s property concept that will take advantage of state-of-the-art technology and service design to provide its daily users with service experiences that brighten up their daily lives while also functioning as an attractive setting for world-class events. www.gardenhelsinki.fi

YIT is the largest Finnish and significant North European construction company. We develop and build apartments, business premises and entire areas. We are also specialised in demanding infrastructure construction and paving. Together with our customers, our 10,000 professionals are creating more functional, more attractive and more sustainable cities and environments. We work in 11 countries: Finland, Russia, Scandinavia, the Baltic States, 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 pro forma revenue for 2017 was over EUR 3.8 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com