YIT started the construction of two apartment buildings for ICECAPITAL

YIT started the construction of two apartment buildings for ICECAPITAL

YIT has started the construction of two apartment buildings for ICECAPITAL. The total value of the projects is EUR 25.5 million, and the construction is estimated to be completed in the summer of 2015. The apartment building projects in the Helsinki metropolitan area will consist of more than 110 apartments, the total area of which will be slightly over 6,000 floor square metres.

The project is part of the agreement on the construction of non-subsidised investment properties in the Helsinki metropolitan area, signed between YIT and ICECAPITAL Housing Fund III Ky in December 2013. Under the agreement, YIT will construct six apartment buildings for ICECAPITAL, comprising a total of 300 apartments. The overall value of the agreement is approximately EUR 64 million.

“The projects will reduce, in particular, the shortage of small and medium-sized apartments in the Helsinki metropolitan area”, says Harri Isoviita, Senior Vice President for Residential Construction at YIT.

For further 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