Helsinki, Finland, 2015-12-14 08:00 CET (GLOBE NEWSWIRE) -- YIT CORPORATION INVESTOR NEWS DECEMBER 14, 2015 AT 9:00 A.M.
YIT to construct apartments for OP-Vuokratuotto fund worth nearly EUR 50 million
YIT and OP-Vuokratuotto non-UCITS Fund have signed agreements on the construction of three residential projects and pre-agreements on the construction of two residential projects to Helsinki metropolitan area, Tampere and Vaasa. The total value of the agreements is nearly EUR 50 million, and the projects will comprise approximately 270 rental apartments. Regarding the pre-agreements, project specific contracts will be signed prior to each project start-up. The aim is to start all the projects during 2016. The projects will be constructed on plots controlled or owned by YIT according to the company’s design. The construction of the projects will not tie YIT’s capital.
“The projects agreed now are a natural continuum to excellent co-operation between OP-Vuokratuotto and YIT”, says portfolio manager Antero Tenhunen from Pohjola Property Management Ltd.
For further information, please contact:
Sanna Kaje, Vice President, Investor Relations and M&A, YIT Corporation, tel. +358 50 390 6750, sanna.kaje@yit.fi Harri Isoviita , Senior Vice President, Residential Construction, YIT Construction Ltd, tel. +358 40 553 3833, harri.isoviita@yit.fi Matti Koskela , Senior Vice President, Building Construction, YIT Construction Ltd, tel. + 358 40 557 6520, matti.koskela@yit.fi
YIT CORPORATION
Sanna Kaje Vice President, Investor Relations and M&A
Distribution: NASDAQ OMX, principal media, www.yit.fi
YIT is a construction industry leader. We create better living environments in Finland, Russia, the Baltic countries, the Czech Republic, Slovakia and Poland. Over 100 years of experience have secured 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 taking care of our customers, partners and personnel. We have nearly 6,000 employees in eight countries. In 2014, our revenue amounted to around EUR 1.8 billion. Our share is listed on NASDAQ OMX Helsinki. www.yitgroup.com
