YIT started the construction of two new apartment buildings in area development project in St. Petersburg, Russia

YIT started the construction of two new apartment buildings in area development project in St. Petersburg, Russia

YIT has started the construction of two new apartment buildings in an area development project called Novo Orlovsky in St. Petersburg at the end of June. The total value of the project is over EUR 70 million and it is due for completion by the end of 2017. The value of the whole area development project is over EUR 1 billion.

The Novo Orlovsky project which has now been started involves two 7-storey buildings that will have a total of 620 apartments with a combined living area of approximately 31,000 square metres. The sizes of the apartments range from studios to four-room apartments. The apartments will be sold with plaster finishing or completely finished. Approximately 2,500 square metres of business premises will be constructed in connection with the buildings as well as a car park for about 250 cars.

In total of almost 10,000 apartments will be built on the 46-hectare plot of Novo Orlovsky. The project will also include the construction of several car parks, five daycare centres, two schools, shops, pharmacies, a sports and leisure centre and other business premises for retail and services. The architectural and district plans for the site are the work of the Spanish architects office Taller de Arquitectura. The project is located in North St. Petersburg with excellent transport links and services right on the door step.

“Novo Orlovsky represents in St. Petersburg’s modern residence a comfortable and functional living environment in which accessibility and safety are taken into account. The spacious pedestrianised retail and business area functions as a central point for the area. Added to the area’s functionality are numerous walking and cycling routes. In Novo Orlovsky, we are making every effort to carry out our customers’ wishes for quality housing,” says Mihail Vozijanov, the General Director of YIT St. Petersburg, the constructor for the project.

Images of the project can be found here:

http://yit.materialbank.net/NiboWEB/YIT/showCartPublicContent.do?uuid=5003887&random=988580&lang=en

For additional information, please contact:

Sanna Kaje, Vice President, Investor Relations, YIT Corporation, tel. +358 50 390 6750, sanna.kaje@yit.fi

Teemu Helppolainen, Head of Business Area, Russia, YIT Construction Ltd, tel. +7 915 316 8216, teemu.helppolainen@yit.ru

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