YIT to construct business and office center Navigator in Tallinn, Estonia

YIT to construct business and office center Navigator in Tallinn, Estonia

YIT’s Estonian subsidiary YIT Ehitus and the real estate investment company Capital Mill OÜ have signed an agreement on the engineering and construction of a business and office centre to be constructed on Laeva Street in Tallinn. The business and office centre will be named Navigator. The site is situated in the vicinity of the Port of Tallinn, the Rottermann Quarter, the Old City and the Foorum and Norde Centrum shopping centers. The value of the contract is EUR 9 million. The new building, realised using the project management model, will be completed by the end of 2013.

The building will feature six floors and underground parking facilities. The total floor area of the project is 9,000 square meters. The impressive façade with its architecturally interesting indented sections will be made primarily of glass.

Toomas Rapp, member of the management board of AS YIT Ehitus, considers the project challenging.

”We believe that the Navigator will provide a lot of added value to the area between the city centre and the port, thereby contributing to the development of the area as a whole. Constructing the building using the project management model provides us with an opportunity to utilise our competence in all of the project phases. We can design and realise a technically versatile building in cooperation with the customer,” Rapp says.

Room for premium business premises in Tallinn

Marko Kull, partner in Capital Mill OÜ, says that the start-up of the project is timed well in a situation where the volume of vacant premium office premises in the centre of Tallinn is not high.

”There is a lot of development potential in the area, and more architecturally well designed buildings will be constructed here in the future. Navigator is identifiable from a distance and one also remembers it. We hope that our new project will lead the way for the entire area,” Kull says.

For further information, please contact:

Tom Sandvik, head of the Baltic countries and Central Eastern Europe division, International Construction Services, tel: +358 400 617 807, tom.sandvik@yit.fi

Marko Kull, partner, OÜ Capital Mill, tel: +372 524 5665, marko.kull@capmill.eu

Toomas Rapp, Production Director, AS YIT Ehitus, tel: +372 665 2100, toomas.rapp@yit.ee

 Distribution: Principal media, www.yit.fi

YIT is celebrating its 100th anniversary in 2012. The company was founded in the Grand Duchy of Finland in 1912. Today, YIT is a leading European service company in building systems, construction services and services for industry. With our 26,000 professionals, we serve our customers in 14 countries: in the Nordic and Baltic countries, Central Europe and Russia. We have grown together with our customers and developed our services as societies have changed. We intend to continue on that path. Our vision is to lead the way in creating and maintaining good living environments. In 2011, YIT's turnover was approximately EUR 4.4 billion. YIT's shares are listed on NASDAQ OMX Helsinki. www.yit.fi, www.yitgroup.com