YIT to sell right-of-occupancy and rental housing apartments for almost EUR 15 million

YIT to sell right-of-occupancy and rental housing apartments for almost EUR 15 million

YIT will sell 51 apartments to Ålandsbanken and Avain Asumisoikeus Oy for use as rental and right-of-occupancy housing. The total value of the apartments is approximately EUR 15 million.

YIT and Ålandsbanken’s residential property fund have agreed on the sale of 35 apartments. The apartments are mainly either completed or close to completion and they are located in different parts of the Helsinki metropolitan area and other Finnish growth centres. Following the contract signing, a EUR 100 million milestone was exceeded in the cooperation between YIT and Ålandsbanken’s residential property fund. The cooperation, that has been ongoing for slightly more than one year, has created thousands of jobs in Finland.

YIT and Avain Asumisoikeus Oy have signed an agreement on the sale of 16 apartments in Espoo. These apartments are ready to move in to and will be used as right-of-occupancy housing.

“The apartments sold will help ease the shortage of rental housing in the Helsinki metropolitan area. In addition, the right-of-occupancy apartments will make it possible for more people to find different types of affordable housing in the area,” says Harri Isoviita, Senior Vice President, YIT Residential Construction division.

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, Major 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