YIT, the City of Helsinki, and Senate Properties have signed a settlement agreement to close the Trigoni project

YIT Corporation Press release 23 June 2022 at 2:00 p.m.

Senate Properties and the City of Helsinki, as owners and sellers of the property, and YIT, as the buyer of the property and project contractor, have agreed by mutual consent to terminate the Implementation Contract concerning the Start-Up Area of the Central Pasila high-rise area and the related preliminary contract on the sale of the property signed on 8 February 2019. As a result of the Settlement Contract now signed on 22 June 2022, the obligations of the parties under the Contracts will terminate on mutually agreed terms. 

"It is a pity that we had to abandon the Trigoni project, but we are pleased that we were able to settle things in a good spirit at the end. Pasila is one of the most attractive locations in Finland and we will continue to actively seek new developments in the area. The Maistraatinportti business centre, currently under construction, will be completed in the autumn of 2023 on the western side of the Tripla shopping mall," says Ilkka Tomperi, Executive Vice President of Property Development at YIT.

"We are pleased that we have reached an agreement to close the Trigoni contract and can close this chapter in agreement. We now look forward to new interesting projects in the rapidly developing Pasila area," says both Ville Lehmuskoski, Segments director at the City of Helsinki and Marko Härkönen, Director at Senate Properties.

Read more: YIT starts negotiations to withdraw from the Trigoni project | YITGROUP.COM

For further information, please contact:
Ilkka Tomperi
, Executive Vice President, Property Development, YIT Corporation, puh. +358 (0)50 379 1903, ilkka.tomperi@yit.fi
Ville Lehmuskoski, Segments director, Urban Environment, City of Helsinki, tel: +358 (0)50 550 6710, ville.lehmuskoski@hel.fi
Marko Härkönen, Director, Real Estate Development and Sales, Senate Properties, tel. +358 (0)40 546 6627, marko.harkonen@senaatti.fi
Kristina Broman, Business Partner, YIT, tel. +358 (0)40 840 3166, kristina.broman@yit.fi

YIT is the largest Finnish and a significant North European development and construction company. For 110 years, we have been creating better living environments for our customers: we develop and build functional homes for sustainable living, future-proof public and commercial buildings and infrastructure for smoother flow of people, businesses and society. We employ 5,500 professionals in nine countries: Finland, Sweden, Norway, Estonia, Latvia, Lithuania, the Czech Republic, Slovakia and Poland. Our revenue in 2021 was EUR 2.7 billion. YIT Corporation’s share is listed on Nasdaq Helsinki Oy. www.yitgroup.com