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YIT Corporation Investor News October 31, 2017 at 2.05 p.m.
The first significant long-term tenancy of the office spaces at the Pasila urban centre Tripla has been signed with Otavamedia Oy. The lease agreement covers over 6,000 square metres on four different floors of the Tripla middle block, including a photo studio.
“Otavamedia’s decision to be located in Tripla is a good example of the attractiveness of Tripla business premises and how the demand for business premises is shifting from the city centre to the northern downtown area with excellent transport connections,” says YIT’s Senior Project Director of the Tripla project, Tapio Salo. “Signing a lease agreement this early, over two years before construction is complete, provides the company with the ideal circumstances to customise the spaces and services to serve their needs and reflect their image,” says Salo.
”Otavamedia Oy gets business premises from Tripla that are modern and serve the business well. Otava Group’s other business premises in Helsinki metropolitan area are located in Uudenmaankatu and Hietalahti and their development will continue in the coming years,” says CEO Alexander Lindholm from Otava Group.
The Tripla centre to be completed in Central Pasila in stages during 2019–2021 is a three-block complex, including a parking hall, shopping centre, public transport hub, apartments, a hotel and offices. The total office area is approximately 50,000 square metres. The construction of the offices begins in early 2018, when the Mall of Tripla reaches its final height, and they will be completed in 2020.
The agreement also includes YIT purchasing two buildings owned by Otavamedia Oy in Pasila. The total floor area of the purchased buildings is approximately 17,500 floor square metres. The buildings were built in the 1980’s, and they are currently used by Otavamedia Oy. The goal is to develop and renovate the buildings for new functions and for new users. The renovation is scheduled to begin in 2018 and 2020. YIT will pay for the premises as it gains the tenure and ownership of the properties in 2018 and 2020.
“The properties support YIT’s objectives of urban centre development and increasing the proportion of renovation projects. The development of properties located close to excellent transport connections offers excellent opportunities to create new, unique solutions for our clients’ needs,” says Timo Lehmus, YIT’s Head of the Business Premises and Infrastructure segment.
For further information, please contact:
Hanna Jaakkola, Vice President, Investor Relations, YIT Corporation, tel. +358 40 5666 070,
hanna.jaakkola@yit.fi
Timo Lehmus, Head of Business Premises and Infrastructure segment, YIT Corporation, tel. +358 400 409 181, timo.lehmus@yit.fi
Tapio Salo, Senior Vice President, Tripla, YIT Construction Ltd., tel. +358 50 505 2608, tapio.salo@yit.fi
YIT CORPORATION
Hanna Jaakkola
Vice President, Investor Relations
Distribution: Nasdaq Helsinki, major media, www.yitgroup.com
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 2016, our revenue amounted to nearly EUR 1.8 billion, and we employ about 5,300 employees. Our share is listed on Nasdaq Helsinki. www.yitgroup.com
