YIT Corporation Investor News October 10, 2019 at 08:00 a.m.
YIT started numerous apartment building projects in Finland in July-September 2019. The most notable of these are Helsingin Masto, Helsingin Barista, Espoon Proosa, Vaasan Romeo, Tampereen Tähtitorni, Helsingin Smoltti and Kuopion Tohtori. The total value of the largest projects is over EUR 125 million. The start-ups of the apartments are booked in the order backlog of the third quarter of 2019.
Helsingin Masto is located in the coastal landscape of Sompasaari along excellent public transport connections and in the proximity of services. The value of the project is approximately EUR 26 million with 45 apartments to be completed.
Helsingin Barista completes the Kahvikortteli residential area consisting of six housing companies. It is located on a plot that previously housed Paulig’s coffee roastery in Aurinkolahti, Helsinki. The value of the project is over EUR 25 million with 60 apartments to be completed.
Espoon Proosa is located in the new Vermonniitty residential area close to Leppävaara. The value of the project is over EUR 19 million. Over 80 apartments will be completed.
Vaasan Romeo is YIT’s second project in the Teatterikortteli in Vaasa city centre. The value of the project is over EUR 16 million. Over 70 apartments will be completed.
Tampereen Tähtitorni will be built in the Niemenranta area by Lake Näsijärvi along the new Tampere tram line. The value of the project is over EUR 15 million with 80 apartments to be completed.
Helsingin Smoltti is located in Verkkosaari’s Capellanranta by the sea. The value of the project is over EUR 13 million with 30 apartments to be completed.
Kuopion Tohtori will be built in Kuopio city centre only a stone’s throw away from the market square. The value of the project is over EUR 10 million with almost 50 apartments to be completed.
Most of the projects started during the quarter will be completed by the end of 2020.
For further information, please contact:
Tiina Kuusisaari, Investor Relations Manager, YIT Corporation, tel. +358 (0)40 52 88 154, firstname.lastname@example.org
Antti Inkilä, Executive Vice President, Housing Finland and CEE segment, YIT Corporation, tel. +358 (0)40 864 4358, email@example.com
Investor Relations Manager
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
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