Helsinki, Finland, 2016-02-10 13:00 CET (GLOBE NEWSWIRE) -- YIT CORPORATION INVESTOR NEWS FEBRUARY 10, 2016 AT 2:00 P.M.
YIT starts the construction of a residential project in Russia
YIT starts the construction of a residential project in Moscow region, Russia. The project’s first phase to be started comprises a total of over 400 apartments, with total living area of around 18,800 square metres, and commercial spaces. The value of the project’s first phase is over EUR 15 million and it will be completed by the end of 2017. The project, with its competitive price level, complements YIT’s sales portfolio well in the Moscow region.
The project called New Noginsk is located in the city of Noginsk east of Moscow along the Kljazma river. The project is located in a popular living area in the vicinity of versatile services and recreational areas with good transport connections into the city center and Moscow. Special attention has been paid to functional and efficient layouts, and apartment sizes vary from studios to small three-room apartments. New Noginsk represents newly developed modern and energy efficient production, which has now been brought into use in YIT. In total, six 17-storey buildings and a kindergarten for 180 children will be constructed in New Noginsk.
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
Teemu Helppolainen, Head of Housing Russia segment, YIT Construction Ltd, tel. +7 915 316 8216, teemu.helppolainen@yit.ru
YIT CORPORATION
Sanna Kaje
Vice President, Investor Relations and M&A
Distribution: NASDAQ OMX, major media, www.yitgroup.com
YIT is a construction industry leader that creates sustainable urban environments by constructing housing, business premises, infrastructure and entire areas. We focus on providing a first-class customer experience, high quality and continuous development of our diverse expertise. Our operating area covers Finland, Russia, the Baltic countries, the Czech Republic, Slovakia and Poland. Our vision is to stay one step ahead – while caring for our customers, partners and personnel. We have over 5,300 employees in eight countries. In 2015, our revenue amounted to nearly EUR 1.7 billion. Our share is listed on Nasdaq OMX Helsinki. www.yitgroup.com