YIT sells the office properties of Tikkurila Commercial Centre Dixi and Motorcenter Espoonlahti to Etera

YIT has concluded agreements for the sale of the office properties of the commercial centre Dixi, located at the Tikkurila railway station, and MotorCenter Espoonlahti, which is currently under construction along the Western Highway in Espoo. The buyer is Etera Mutual Pension Insurance Company. The total value of the transactions is approximately EUR 60 million, of which just over a quarter will be recorded by YIT as revenue for 2013.

The office premises sold in Tikkurila Commercial Centre Dixi comprise a total floor area of 14,400 m2 and will be developed over several phases by the end of 2017. The first phase, which consists of 6,000 m2 of office space in total, will be completed in late 2014. The main tenants will be HUS, Suomen Terveystalo Oy as well as the HR and outsourcing service provider Barona. The transaction also includes the parking spaces for the office premises in the indoor car park that will be completed in the first phase of construction. Dixi comprises a total of 12 floors, with the office premises located on floors 4–11. LEED Platinum environmental certification will be sought for the project.

MotorCenter Espoonlahti is part of the MotorCenter concept developed by YIT, focused on providing products and services for drivers, as well as in the areas of technical specialty retail and active leisure. The first phase of MotorCenter Espoonlahti, consisting of a total floor area of approximately 3,500 m2, will be completed in spring 2014. Located on Sillankorventie in Espoo, the project is the sixth drivers’ service centre under the MotorCenter concept that is currently under construction or already in operation.

Investors’ yield requirements have risen somewhat in late 2013. YIT has postponed the sale of other own-developed business premises projects that are currently under construction until next year.

Images of Tikkurila Commercial Centre Dixi and MotorCenter Espoonlahti

http://yit.materialbank.net/NiboWEB/YIT/showCartPublicContent.do?uuid=5163021&random=996161&lang=en

For further information, please contact:

Sanna Kaje, Vice President, Investor Relations, YIT Corporation, tel. +358 50 390 6750, sanna.kaje@yit.fi 
Seppo Martikainen, Vice President, Transactions, YIT Construction Ltd, tel. +358 400 460 913, seppo.martikainen@yit.fi

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 2012, our revenue amounted to approximately EUR 2 billion. Our share is listed on Nasdaq OMX Helsinki. www.yitgroup.com