YIT develops digital housing services in Russia

T is developing its property management and maintenance services in Russia in the direction of digital platform business. A significant step in this development work was the acquisition of the majority of Udobnyje reshenija’s share capital, which was completed at the beginning of April. The transaction will be entered for the second quarter of the year.

Udobnyje reshenija offers versatile contact services that function on the Dispatcher 24 service platform for property management and maintenance companies. The employees of the property management and maintenance company and residents of the building have access to their own information and apartment related information on their personal customer account, and they can also communicate with the service provider through their account, using a mobile application.

“The acquisition of the platform company consistently implements the strategy of the Housing Russia segment in developing property management and maintenance service. I’m especially happy about our opportunity to develop the Living Services business into a genuinely digital service, which is a pioneer in its field in Russia. At the moment, we have more than 46,000 property management and maintenance service contract customers in Russia and we believe that with this investment our customer base will grow and our range of services will develop further,” says Teemu Helppolainen, Executive Vice President, Housing Russia segment.

“Our goal is to improve interaction between the property management and maintenance companies and the customers as well as to improve the quality of our services. Through this portal, we can offer more versatile and timely services for our customers to facilitate their everyday lives,” adds Aleksander Arsenjev, Head of Living Services Russia division.

At this stage, YIT acquired the majority of the share capital of Udobnyje reshenija, or 51%. The rest of the share capital, 49%, is to be acquired later. Udobnyje reshenija was established in 2014 and it serves more than 80 property management and maintenance companies in 14 different areas around Russia. The company has almost 300,000 customers.

Further information:
Teemu Helppolainen, Executive Vice President, Housing Russia segment, tel. +7 915 316 8216, teemu.helppolainen@yit.ru
Alexander Arsenjev, Head of Living Services Russia division, alexander.arsenjev@yit.ru
Hanna Malmivaara, Vice President, Communications, YIT Corporation, tel. +358 40 561 6568, hanna.malmivaara@yit.fi

YIT is the biggest construction company in Finland and a major player in Northern Europe. We construct and develop apartments, business premises and entire residential areas. Furthermore, we are specialists in infrastructure construction and paving. Together with our customers, our 10,000 professionals create increasingly functional, appealing and sustainable cities and living environments. We have operations in 11 countries: Finland, Russia, Scandinavian and Baltic countries, the Czech Republic, Slovakia and Poland. The new YIT was created by the merger of YIT Corporation and Lemminkäinen Corporation, both over 100 years old, on February 1, 2018. In 2017, our pro forma revenue amounted to over EUR 3.8 billion. YIT Corporation’s share is listed on Nasdaq Helsinki. www.yitgroup.com