Posted in | News

Construction of Two New Apartment Buildings Begins in Area Development Project in Russia

YIT has started the construction of two new apartment buildings in an area development project called Novo Orlovsky in St. Petersburg at the end of June. The total value of the project is over EUR 70 million and it is due for completion by the end of 2017. The value of the whole area development project is over EUR 1 billion.

The Novo Orlovsky project which has now been started involves two 7-storey buildings that will have a total of 620 apartments with a combined living area of approximately 31,000 square metres. The sizes of the apartments range from studios to four-room apartments. The apartments will be sold with plaster finishing or completely finished. Approximately 2,500 square metres of business premises will be constructed in connection with the buildings as well as a car park for about 250 cars.

In total of almost 10,000 apartments will be built on the 46-hectare plot of Novo Orlovsky. The project will also include the construction of several car parks, five daycare centres, two schools, shops, pharmacies, a sports and leisure centre and other business premises for retail and services. The architectural and district plans for the site are the work of the Spanish architects office Taller de Arquitectura. The project is located in North St. Petersburg with excellent transport links and services right on the door step.

“Novo Orlovsky represents in St. Petersburg’s modern residence a comfortable and functional living environment in which accessibility and safety are taken into account. The spacious pedestrianised retail and business area functions as a central point for the area. Added to the area’s functionality are numerous walking and cycling routes. In Novo Orlovsky, we are making every effort to carry out our customers’ wishes for quality housing,” says Mihail Vozijanov, the General Director of YIT St. Petersburg, the constructor for the project.

Images of the project can be found here: http://yit.materialbank.net/NiboWEB/YIT/showCartPublicContent.do?uuid=5003887&random=988580&lang=en

For additional information, please contact:

Sanna Kaje, Vice President, Investor Relations, YIT Corporation, tel. +358 50 390 6750, [email protected]

Teemu Helppolainen, Head of Business Area, Russia, YIT Construction Ltd, tel. +7 915 316 8216, [email protected]

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type
Submit

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.