YIT starts the construction of an apartment building and office project in Oulu, Finland

YIT starts the construction the third phase of an area project called Resiinakortteli in Etu-Lyötty, Oulu, Finland. The third phase comprises approximately 80 apartments and office space on the two first floors. The total value of the project is approximately EUR 20 million and it is estimated to be completed in the end of 2018. The construction starts immediately and the start-up is recorded in the second quarter.

Asunto Oy Oulun Pillipiipari is the third phase of the construction of the city block of so called Resiinakortteli. YIT has constructed altogether already 22 projects and approximately 1,100 apartments to Etu-Lyötty since 2003. The construction of one apartment building is still to be started to Resiinakortteli. Pillipiipari has an excellent location close to the Oulu city centre and numerous services. The building will have altogether 12 floors so the top floors will have nice a view across Oulu – at its best, all the way to the sea. The Pillipiipari apartments are currently at the pre-marketing stage. Read more about the project on YIT’s Homes website (in Finnish). 

For further information, please contact:

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

Jari Virsunen, Area Director, YIT Construction Ltd., Northern Finland, tel. +358 40 519 6009, jari.virsunen@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