Helsinki, Finland, 2014-06-04 08:02 CEST (GLOBE NEWSWIRE) --
YIT CORPORATION INVESTOR NEWS JUNE 4, 2014 AT 9:00 A.M.
YIT started the construction of the second phase of an apartment building project in Yekaterinburg
YIT started the second phase of the apartment building project called Forest in Yekaterinburg, Russia. The apartment building complex is located in the UNTS area in the northwestern part of Yekaterinburg, approximately seven kilometres from the city centre. The total value of the second phase, which has now been started, is approximately EUR 13 million, and it is due for completion in late 2015. The construction of the project’s first phase started in 2012 and it will be completed at the end of 2014. The value of the entire project is just under EUR 30 million.
The phase of the Forest apartment project that began now covers one apartment building with 25 storeys and 220 apartments. The total living area of the apartments is more than 11,000 square metres. In addition, a total of ten business premises for commercial and office use will be completed in connection with the building. The entire project includes two buildings with 25 storeys each. The combined area of the two houses is approximately 25,000 square metres, of which around 22,000 is for residential use. The houses will host in total approximately 440 apartments varying from studios to three rooms in size. A parking facility with around 160 parking spaces will also be constructed to the residential apartment building complex.
“The apartment building complex Forest is located in a constantly developing neighborhood with excellent transport connections. As the name suggests, a pinetree forest is located in the vicinity of Forest. Special efforts have been made to make the apartment building comfortable: the yard area will be landscaped and a children’s play area as well as a sports field will be built in the yard,” says Roman Gibov, General Director of YIT Uralstroi, the developer of the project.
For additional information, please contact:
Sanna Kaje, Vice President, Investor Relations, YIT Corporation, tel. +358 50 390 6750, sanna.kaje@yit.fi
Jukka-Pekka Uuskoski, Vice President, Development Director of Housing, Russia Business Area, YIT Construction Ltd, tel. +7921 766 6029, jukka-pekka.uuskoski@yit.ru
YIT CORPORATION
Sanna Kaje Vice President, Investor Relations
Distribution: NASDAQ OMX, principal media, www.yitgroup.com
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 2013, our revenue amounted to nearly EUR 1.9 billion. Our share is listed on Nasdaq OMX Helsinki. www.yitgroup.com
