YIT launches a new housing development in the Moscow Region

YIT continues the construction of the Finskiy development in the city of Shchyolkovo northeast from Moscow with its eighth apartment building in the district. The new 16-storey building will house 300 apartments ranging from studios to three-bedroom flats, with  a total floor area of 13,500 square metres. The total value of the project is nearly EUR 12 million, and the construction began in October 2018. The project will be entered in the order backlog for Q4 of the year. 

YIT has been constructing the Finskiy apartment building development on a 13.5-hectare plot in Shchyolkovo for several years. Completed are six apartment buildings and a children’s nursery. In addition to the project started in October, YIT is also constructing another apartment building at Finskiy. In the future the city will carry out a school in the area. The area is within walking distance from the excellent services and amenities of Shchyolkovo and an easy commute to Moscow.

YIT is currently marketing apartments in eight housing developments in different cities in the Moscow Region. Currently under construction are homes and business premises of more than 100,000 square meters in total and three nurseries.

For further information, please contact:
Teemu Helppolainen, Executive Vice President, Housing Russia segment, tel. +7 915 316 8216, teemu.helppolainen@yit.ru
Hanna Malmivaara, Vice President, Communications, YIT Corporation, tel. +35840 561 6568, hanna.malmivaara@yit.fi

YIT is the largest Finnish and significant North European construction company. We develop and build apartments, business premises and entire areas. We are also specialised in demanding infrastructure construction and paving. Together with our customers our 10,000 professionals are creating more functional, more attractive and more sustainable cities and environments. We work in 11 countries: Finland, Russia, Scandinavia, the Baltic States, the Czech Republic, Slovakia and Poland. The new YIT was born when over 100-year-old YIT Corporation and Lemminkäinen Corporation merged on February 1, 2018. Our pro forma revenue for 2017 was over EUR 3.8 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com