YIT PARTICIPATES IN THE CONSTRUCTION OF THE HOFSTATT COMPLEX IN MUNICH, GERMANY

YIT PARTICIPATES IN THE CONSTRUCTION OF THE HOFSTATT COMPLEX IN MUNICH, GERMANY

YIT has been commissioned to install technical building equipment in the Hofstatt complex in Munich, Germany. The Hofstatt complex offers luxury apartments and modern offices as well as shops and restaurants in the old town area of the city, in close proximity to the town hall on Marienplatz. YIT was hired last year to provide its services in the residential units, and the contract has now been expanded to include the retail space, offices, and underground parking garage. The value of the first part of the project was EUR 3.5 million, and the value of the contract agreed now EUR 11.4 million.

Since April 2011, YIT has been responsible for the heating, cooling, sanitary facilities, fire extinguishing technology, and ventilation in building units A and B. The buildings comprise a total of some 9,000 m² of residential space in a new building and an older building undergoing renovation. The first round of apartments will be completed in September 2012.

In collaboration with Bauer Elektrounternehmen, YIT will now be responsible for the heating, cooling, sanitary facilities, sprinklers, ventilation, and instrumentation, control, and automation in building units C through G and the underground parking garage. The new contract comprises around 18,000 m² of office space, 15,500 m² of retail space and restaurants, and an underground parking garage with about 250 car parking spaces. Among other efficiency measures, the complex will include highly efficient heat recovery systems and water-saving faucets. The goal is to achieve the golden LEED certificate for the project.

The development and refurbishment of Hofstatt is managed by Hines whose role involves renovating four existing buildings (18,500 m²) plus developing three new buildings (24,000 m²). LBBW Immobilien is in charge of the construction works. The project is designed by Marcel Meili and Markus Peter Architekten AG, Switzerland. Both new construction and renovations are scheduled to be completed at the end of 2012 or in the beginning of 2013.

For additional information, please contact:
Barbara Niedermeier, YIT Germany GmbH, Marketing and Communication, +49-175-727-7064, barbara.niedermeier@yit.de

YIT CORPORATION
 

Virva Salmivaara
Senior Vice President, Corporate Communications

YIT celebrates 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.yitgroup.com

YIT Germany GmbH is one of Germany’s leading suppliers of technical building equipment across all sectors, facility management, and energy-saving solutions. YIT Germany operates its own research and development center and sells the KRANTZ KOMPONENTEN brand, technical ventilation solutions, and exhaust air filtration systems. YIT Germany has 25 branches and around 2,800 employees in Germany.