YIT and A-Kruunu signed a pre-agreement on the construction of subsidised rental apartments

YIT and A-Kruunu signed a pre-agreement on the construction of subsidised rental apartments

YIT and A-Kruunu Oy have signed a pre-agreement on the construction of four subsidised rental apartment projects in Helsinki region. The projects will include over 130 apartments. The projects will be designed and constructed by YIT on plots controlled or owned by YIT. The total value of the agreement is nearly EUR 30 million.

Project start-ups require a project specific approval from The Housing Finance and Development Centre of Finland (ARA). The individual deals will be closed after the approval of ARA. The aim is to start the projects 2015 with completions estimated to take place before the end of 2016. The projects will be booked in the order backlog once the individual deals are closed.

For additional information, please contact:

Sanna Kaje, Vice President, Investor Relations, YIT Corporation, tel. +358 50 390 6750, sanna.kaje@yit.fi
Harri Isoviita, Senior Vice President, Residential Construction, YIT Construction Ltd, tel. +358 40 553 3833, harri.isoviita@yit.fi

YIT CORPORATION

Sanna Kaje
Vice President, Investor Relations

Distribution: NASDAQ OMX, principal media, www.yitgroup.com

YIT is a construction industry leader. We create better living environments in Finland, Russia, the Baltic countries, the Czech Republic and Slovakia. Over 100 years of experience have secured for us a strong market position: We are the largest housing developer and one of the largest business premises and infrastructure developers in Finland, and the most significant foreign housing and area developer in Russia.  Our vision is to stay one step ahead – while caring for our customers, partners and personnel. We have more than 6,000 employees in seven countries. In 2013, our revenue amounted to nearly EUR 1.9 billion. Our share is listed on Nasdaq OMX Helsinki. www.yitgroup.com