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YIT Inks Pre-Agreement with A-Kruunu to Construct Rental Apartments in Helsinki

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Dec 24 2014

YIT and A-Kruunu Oy have signed a pre-agreement on the construction of four subsidised rental apartment projects in Helsinki region. The projects will include over 130 apartments. The projects will be designed and constructed by YIT on plots controlled or owned by YIT. The total value of the agreement is nearly EUR 30 million.

Project start-ups require a project specific approval from The Housing Finance and Development Centre of Finland (ARA). The individual deals will be closed after the approval of ARA. The aim is to start the projects 2015 with completions estimated to take place before the end of 2016. The projects will be booked in the order backlog once the individual deals are closed.

For additional information, please contact:

Sanna Kaje, Vice President, Investor Relations, YIT Corporation, tel. +358 50 390 6750, [email protected]
Harri Isoviita, Senior Vice President, Residential Construction, YIT Construction Ltd, tel. +358 40 553 3833, [email protected]

Source:

http://www.yitgroup.com/

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