YIT TO DEVELOP THE SAIMAA GARDENS TOURIST RESORT IN FINLAND

YIT TO DEVELOP THE SAIMAA GARDENS TOURIST RESORT IN FINLAND

YIT Construction Ltd and Miriensis Ltd have signed a real estate acquisition concerning three plots in the core of the Saimaa Gardens tourist resort located in Rauha, Lappeenranta, Finland.  It is possible to implement about 80 YIT concept apartments on the plots. Once implemented, the total value of YIT’s project will be about EUR 20 million.

The new Saimaa Gardens tourist resort will be built in a scenic location by the shore of Lake Saimaa, only six kilometres from Imatra city centre. The Holiday Club Saimaa spa hotel will open up for the audience on 11 November 2011 and the first stage of the golf course in summer 2012. YIT’s apartments will be built in the main area of Saimaa Gardens, the shore park situated next to the Holiday Club Saimaa spa hotel. The Holiday Housing Fair will take place in the area in summer 2012. Once completed, the tourist resort will be one of the largest in the Nordic countries.

“The Saimaa Gardens area is even more appealing to tourism operators. We are very happy with the fact that the area development involves YIT and its solid expertise in leisure housing,” says Ilkka Suominen, CEO of Miriensis Ltd.

“The rapid development of the Saimaa Gardens tourist resort and the scope of the location’s service range are a good foundation for YIT’s investments. The projects will strengthen our Saimaa Region operations launched in the Imatra spa area,” says Marko Oinas, Vice President, YIT Leisure Housing.

“The Saimaa Gardens Suites apartments will be built in three stages and our goal is to launch the construction in 2012,” says Pentti Karhu, Regional Director at YIT. The apartments will have a fascinating view of the shore park, Lake Saimaa and New Port.

About 600 holiday apartments following YIT’s Chalets & Villas concept, on sale for private people and companies, have already been completed. They are ready or under construction in Ruka, Saariselkä, Levi, Ukkohalla, Vuokatti, Lappajärvi, Tahko, Sappee, Vanajanlinna, Vierumäki and the Imatra spa area.

Additional information
Marko Oinas, Vice President, Leisure Housing, YIT Construction Ltd, tel. +358 40 506 7430
Pentti Karhu, Regional Director, YIT Construction Ltd, Saimaa region, tel. +358 50 689 79
Ilkka Suominen, CEO, Miriensis Ltd, tel. +358 500 533 700

For more information about YIT’s leisure housing: http://www.yitgroup.com/YIT_GROUP/construction-services/leisure-housing

Appendices: 1. Conceptual picture of Saimaa Gardens, showing the projects as modelled
 

YIT CORPORATION

Virva Salmivaara
Senior Vice President, Corporate Communications 
 

Distribution: Principal media, www.yitgroup.com, www.saimaagardens.com
 

YIT is a leading European service company in building systems, construction services and services for industry. We build, develop and maintain quality living environments in the Nordic countries, Central Europe, Russia and the Baltic countries. In 2010, YIT’s revenue was approximately EUR 3.8 billion. The Group has about 26,000 employees. YIT’s shares are listed on NASDAQ OMX Helsinki.

Miriensis Ltd is responsible for the comprehensive development of the Saimaa Gardens tourist resort located in Rauha, Lappeenranta, Finland. The area is home to the Holiday Club Saimaa spa hotel, several holiday villages and a yacht harbour. A golf course, shopping mall and a large number of holiday apartments are being built in the area. The Saimaa Gardens area totals 300 hectares, and space for more than 8,000 overnight guests has been planned for the area. The Holiday Housing Fair 2012 will take place in the tourist resort area.