YIT starts the construction of already the second apartment building in Ranta-Tampella, Tampere, Finland

YIT starts the construction of the second apartment building at Ranta-Tampella area development project in Tampere, Finland. The building to be constructed is Asunto Oy Tampereen Kanavanvahti at Kanavakortteli city block, with 92 apartments and approximately 4,500 square meters of living area in total. The value of the building is approximately EUR 30 million and it estimated to be completed in autumn 2018.

Five housing co-operatives are being planned to be built in Kanavakortteli city block, of which Kanavavahti is the first. The central location close to the city centre and along a canal to be built in the area build a basis for a unique residential area.

During the coming years, Ranta-Tampella is one of the largest construction areas in Tampere. The area is constructed in many phases at Tampella lakeside area as a downtown extension by the shore of Näsijärvi lake. The area development project has many players and the total value of the project is approximately EUR 900 million. Over 2,000 new apartments will be constructed to the area of approximately 16.5 hectares. YIT is the biggest constructor at the area and it has building permit for floor area of 80,000 square metres for its plots. The preconstruction of the area was started in the summer 2014 and the whole area is expected to be completed by 2030.

For further information, please contact:

Hanna Jaakkola, Vice President, Investor Relations, YIT Corporation, tel. +358 40 5666 070, hanna.jaakkola@yit.fi 

Ilkka Kääriäinen, Area Director, YIT Construction Ltd., Tampere and Pohjanmaa, tel. +358 40 519 5953, ilkka.kaariainen@yit.fi

YIT CORPORATION

Hanna Jaakkola

Vice President, Investor Relations

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

YIT creates better living environment by developing and constructing housing, business premises, infrastructure and entire areas. Our vision is to bring more life in sustainable cities. We want to focus on caring for customer, visionary urban development, passionate execution and inspiring leadership. Our growth engine is urban development involving partners. Our operating area covers Finland, Russia, the Baltic countries, the Czech Republic, Slovakia and Poland. In 2016, our revenue amounted to nearly EUR 1.8 billion, and we employ about 5,300 employees. Our share is listed on Nasdaq Helsinki. www.yitgroup.com