Helsinki, Finland, 2013-12-27 12:00 CET (GLOBE NEWSWIRE) -- YIT launched significant regional development project in northern St. Petersburg, Russia
YIT has started the construction of a new significant regional development project named Novo Orlovsky in Russia. Residential sales will commence in early 2014. The value of the current first phase is slightly under EUR 70 million, and the total value of the project exceeds EUR 1 billion.
Novo Orlovsky is located in the Primorsky district of northern St. Petersburg, extending to the Novo-Orlovsky Forest Park. The project combines premium housing in a clean environment with diverse services and excellent traffic connections. A total of slightly under 10,000 apartments will be built in buildings ranging from 7 to 25 storeys on the 46-hectare plot of Novo Orlovsky. In addition, parking halls, retail and business premises, five day care centres, two schools, a large supermarket, pharmacies and a sports and leisure centre have been planned for the area.
The architectural and district plans for the site are the work of the Spanish architects office Taller de Arquitectura. The first phase of Novo Orlovsky comprises two Comfort-class 25-storey buildings with a total floor area of some 25,500 square metres. The buildings have been planned to include almost 450 apartment units with 1-3 rooms each. In addition, a 5-storey parking house for more than 300 cars will be built. The construction of the first phase is expected to be complete by the end of 2016.
“The construction of the Novo Orlovsky project is a new significant phase in YIT’s operations in St. Petersburg as well as in Russia as a whole. It is a significant regional development project, offering future residents an attractive, high-quality environment close to nature. The area will feature comprehensive services, and the excellent traffic connections will make it particularly comfortable to live there. The attractiveness of the area is increased by its uniform architectural implementation, designed by Ricardo Bofill , one of the leading European architects,” says Mikhail Voziyanov , General Director of YIT St. Petersburg.
Please find some photo material of Novo Orlovsky:
http://yit.materialbank.net/NiboWEB/YIT/showC...mp;lang=en
For further information, please contact:
Sanna Kaje , Vice President, Investor Relations, YIT Corporation, sanna.kaje@yit.fi , +358 50 390 6750
Jukka-Pekka Uuskoski , Vice President, Business Development, St. Petersburg, YIT Construction Ltd, jukka-pekka.uuskoski@yit.ru , +7921 766 6029
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 2012, our revenue amounted to approximately EUR 2 billion. Our share is listed on Nasdaq OMX Helsinki. www.yitgroup.com .
