YIT to build rental and right-of-occupancy apartments worth nearly EUR 30 million

YIT to build rental and right-of-occupancy apartments worth nearly EUR 30 million

YIT builds two non-subsidised rental apartment building projects and one right-of-occupancy housing project in Helsinki region for different parties. The total value of the projects is nearly EUR 30 million, of which around EUR 15 million was recorded in the order backlog of the third quarter, and the rest in the fourth quarter. The three projects designed by YIT and constructed on own plots will include around 120 apartments.

YIT will construct a non-subsidised apartment building project to Helsinki for ICECAPITAL Housing Fund III Ky. The project will include around 50 apartments and will be completed in summer 2015. The project is a part of the pre-agreement signed between YIT and ICECAPITAL Housing Fund III Ky in the end of 2013.

The other non-subsidised apartment building project will be constructed for VVO Kodit Oy to Kirkkonummi. The project will include nearly 40 apartments and will be completed by the end of 2015.

In addition, YIT will construct right-of occupancy housing supported by The Housing Finance and Development Centre of Finland (ARA) for TA-Asumisoikeus Oy. The terraced houses and semi-detached houses in Kirkkonummi will comprise approximately 30 apartments. The project will be completed by the end of 2015.

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