The closing of the agreement to implement the hotel for YIT’s Tripla project secured

The closing of the agreement to implement the hotel for YIT’s Tripla project in Central Pasila, Helsinki, Finland has been secured after the conditions for the agreement were met. The value of the project for YIT is approximately EUR 88 million, and it is recorded in YIT’s order backlog in connection with the closing of the agreement. The construction of the hotel will start in the beginning of autumn 2017, and it is scheduled for completion in early 2020.

YIT announced the signing of the final agreement for the hotel on April 26, 2017. The hotel will be operated by Sokotel Oy with a long-term lease agreement, and the investor will be a limited partnership managed by Exilion Management Oy with Elo Pension Company, The State Pension Fund of Finland and Veritas Pension Insurance as owners.  

For further information, please contact:

Hanna Jaakkola, Vice President, Investor Relations, YIT Corporation, tel. +358 40 5666 070, hanna.jaakkola@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