YIT will start new construction in the historic centre of St. Petersburg, Russia

YIT will start new construction in the historic centre of St. Petersburg, Russia

YIT has decided to start the construction of a premium apartment complex called Smolny prospekt in the historic centre of St. Petersburg along the Neva River, in close proximity to the St. Petersburg City Hall. The location of the property in St. Petersburg is excellent and it complements YIT’s apartment supply in the city. The project is executed in several phases; the currently started phase has a value of approximately EUR 130 million. The value of the total project is more than EUR 300 million and it is estimated to be fully completed by the end of 2017.

The project consists of construction of three new buildings on a 2.9-hectare plot and the renovation of existing buildings on the plot. The Taller de Arquitectura studio of the Spanish architect Ricardo Bofill is responsible for the overall design of the area. The plans take the architectonic and stylistic traditions of central St. Petersburg into account.

“Execution of a major apartment construction project of our own in the treasured centre of St. Petersburg is an extremely significant milestone in the development of YIT’s operations in this city. The project requires us to have professional skills and consideration for historic buildings and the environment,” says Mihail Voziyanov, General Director, YIT St. Petersburg.

The three new buildings will have 7–8 storeys and approximately 400 apartments varying from below 40 to over 200 square metres in size. The apartments in the main building located on the Smolny waterfront street will have unique views to Smolny Cathedral, the Neva River and the Great Okhta Bridge. The main building will also feature approximately 5,000 square metres of business premises on the lower floors. Two daycare centres will also be constructed on the city block. The apartment complex will also have an underground car park with capacity of more than 700 vehicles with direct elevator access to the apartments.

At the end of last year, YIT started the renovation of existing buildings on the plot maintaining the original facades and look of the buildings. The renovated buildings will house approximately 30 premium-class apartments.

For further information, please contact:

Mihail Voziyanov, General Director, YIT St. Petersburg, tel. +7 921 943 9127, mikhail.voziyanov@yit.ru

Jukka-Pekka Uuskoski, Vice President, Corporate Development, tel. + 7 921 766 6029, jukka-pekka.uuskoski@yit.ru

Sanna Kaje, Vice President, Investor Relations, YIT Corporation, tel. +358 50 390 6750, sanna.kaje@yit.fi

Images of the Smolny prospekt project:

http://yit.materialbank.net/NiboWEB/YIT/showCartPublicContent.do?uuid=4923558&random=797363&lang=en

Distribution: NASDAQ OMX Helsinki, principal media, www.yitgroup.com

YIT leads the way in the construction sector by creating more attractive and sustainable urban environments in Finland, Russia, the Baltic countries, the Czech Republic and Slovakia. YIT builds housing, business premises and infrastructure, develops entire areas, and offers residential service concepts for consumers. YIT has over 100 years of experience and a strong market position: it is the largest residential construction company in Finland and the most significant foreign residential construction company in Russia. YIT is also one of the largest business premises and infrastructure construction companies in Finland. YIT has more than 6,000 employees in seven countries. In 2012, the company’s revenue was approximately EUR 2.0 billion. YIT’s shares are listed on NASDAQ OMX Helsinki. www.yitgroup.com