YIT TO IMPLEMENT TAPIOLA PENSION-OWNED MOTORCENTER AVIA IN VANTAA, FINLAND

YIT TO IMPLEMENT TAPIOLA PENSION-OWNED MOTORCENTER AVIA IN VANTAA, FINLAND

YIT Construction Ltd has started the construction work for MotorCenter Avia which is owned by the Tapiola Mutual Pension Insurance Company in Koivuhaka, Vantaa, Finland. According to the project agreement signed by YIT and Tapiola Pension, YIT will implement the approximately 2,900-square metre business centre based on the MotorCenter concept on a plot owned by the investor. The value of the project is approximately EUR 5 million. The majority of premises have already been leased to long-term users. The project will be completed in June 2012.

Located in an excellent area in terms of traffic connections, MotorCenter Avia constitutes part of the YIT-developed MotorCenter concept, which is focused on products and services for motorists, technical specialty shops and the recreational activities industry. The first MotorCenter owned by Tapiola Pension is located in Herttoniemi, Helsinki. It was completed in June 2011 and is already open for consumers. A great majority of MotorCenter Avia’s lessees also operate in MotorCenter Herttoniemi.

“MotorCenter Avia is located in the growing service district of Koivuhaka and has excellent public transportation connections. The Koivuhaka surroundings are being actively developed and the area will continue to capture new players, which is why we consider construction of the business centre to be a good investment for us,” says Esko Raunio, Director, Private Market Investments of Tapiola Pension.

The MotorCenter concept offers consumers first-rate services in functional premises and business locations situated in the natural daily environment of consumers.

“The amount of customer demand at the MotorCenters has been very good. The concept has attracted major domestic chains, and we are planning to build about ten more MotorCenters in the Greater Helsinki area during the next five years," says Director Tapio Salo of YIT. 

For additional information, please contact:
Esko Raunio, Director, Private Market Investments, Tapiola Mutual Pension Insurance Company, tel. +358 40 543 9252
Tapio Salo, Unit Director, YIT Construction Ltd, Commercial Construction Services, tel. +358 50 505 2608

YIT CORPORATION
 

Virva Salmivaara
Senior Vice President, Corporate Communications

Distribution: Principal media, local media, www.yitgroup.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 EUR 3.8 billion. The Group has about 26,000 employees. YIT's share is listed on NASDAQ OMX Helsinki.