YIT CONTINUES AREAL DEVELOPMENT PROJECTS AND EXPANDS OPERATIONS INTO A NEW CITY IN THE MOSCOW REGION, RUSSIA

YIT CONTINUES AREAL DEVELOPMENT PROJECTS AND EXPANDS OPERATIONS INTO A NEW CITY IN THE MOSCOW REGION, RUSSIA

YIT has launched new residential building projects in the Moscow region and expanded its construction operations to the city of Electrostal. YIT Moskovia has received another award for its Prozorovskoe-Golitsyno residential area project.

YIT has launched new residential building projects in the cities of Ramenskoe and Shchelkovo, located in the Moscow region. In Ramenskoje, YIT is constructing an apartment building with 306 apartments and a total floor area of 15,800 m². The first floor of the building will contain business premises. The project is estimated to be completed in early 2014, and it continues the development of the Ramenskoe area. Over the past few years, YIT has constructed more than 1,000 residential units in the area.

In Shchelkovo, YIT continues the development of the Finskij residential area, where the construction of a 17-storey building with 416 residential units has been started. The total floor area of the building is 25,600 m², of which 1,600 m² is business premises. The project is expected to be completed in early 2014. Two other apartment building projects by YIT are also under construction in the area, with 536 residential units in total. YIT has already constructed more than 500 residential units in the Finskij residential area. In addition to residential buildings, the company is also constructing municipal facilities and business premises in Shchelkovo.

YIT is also expanding its operations to the city of Electrostal, located in the eastern part of the Moscow region. Over the next few years, YIT will construct more than 1,000 residential units on the 6.1-hectare plot it purchased. Construction of the first 17-storey residential building will start in early 2013. Thanks to the surrounding metal and automotive industry, the city’s employment situation is good, and traffic connections to Moscow and other nearby cities are functioning well. Electrostal is also one of the most important centres of sport in the Moscow region.

YIT Moskovia awarded

YIT Moskovia’s construction project Prozorovskoe-Golitsyno has received an award in Russia. The area with terraced and detached houses to be built in Kratovo, located in the south-east part of the Moscow region, was awarded first prize in the PRO Realty 2011 competition in the small-house area category.

Prozorovskoe-Golitsyno will be a cosy area with mostly small houses, located in a verdant environment twenty kilometres from Moscow. The residential area, representing European style, has its own water intake plant and water treatment equipment’s.

For further information, please contact:
Valeri Kim, General Director, YIT Moskovia, valery.kim@yit.ru, +7 495 229 7576
Juha Rissanen, Vice President, Moscow Region, juha.rissanen@yit.ru, +7 985 764 9218

YIT Corporation

Kristina Broman
Acting Vice President, Corporate Communications

YIT is celebrating its 100th anniversary in 2012. The company was established in the Grand Duchy of Finland in 1912. Today, YIT is a leading European service company in building systems, construction services and services for industry. Our 26,000 professionals serve customers in 14 countries in the Nordic and Baltic countries, Russia and Central Europe. We have grown together with our customers and developed our services in line with the changes taking place in different societies. We intend to continue on that track. Our vision is to lead the way in creating and maintaining good living environments. In 2011, YIT's revenue was approximately EUR 4.4 billion. YIT's shares are listed on NASDAQ OMX Helsinki. www.yit.fi

YIT Moskovia builds residential units, multi-storey buildings and small houses under the YIT Dom brand. It also builds business properties and implements large investment projects. The company provides services that cover the entire life cycle of buildings, from development and design to construction and maintenance. Its main operational area is the Moscow region, but the company also operates outside the area. YIT Moskovia, a member of the Builders Association of Russia, is one of the largest construction companies in the Moscow region.