YIT Corporation Press Release July 6, 2026, at 1:00 p.m.
YIT and the Vaasa Student Housing Foundation (VOAS) have signed an agreement on the construction of new student apartments in Palosaari, Vaasa. The project will be carried out as a design-build contract, where the builder is also responsible for project design. Construction will begin in the summer of 2026 and the project is expected to be completed in the summer of 2028. The total value of the contract for YIT is approximately EUR 15 million, and it will be recorded in the order book for the third quarter of 2026.
The scope of the apartment building is approximately 7,000 square meters of floor space, consisting of a total of 207 studios and one-bedroom units. The first 60 apartments will be completed in summer 2027 and the rest in summer 2028. The project is designed to comply with the requirements of energy class A.
"It is great to finally be able to start the construction of the area together with YIT. The area will undergo a major transformation when unfit terraced houses are demolished and replaced with a modern, energy-efficient building, the maintenance costs of which will be significantly more cost-effective than in the current area," said Marko Ylimäki, CEO of the Vaasa Student Housing Foundation.
"We won a client-organized contract competition in the summer of 2025, and I'm glad that we were awarded the contract to implement this regionally significant project. We would like to thank VOAS for their excellent cooperation - together we ensure that students will have modern and comfortable homes in Vaasa," said Miikka Kilpinen, YIT's Regional Director for Housing Construction in Western Finland.
Further information:
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi
YIT creates thriving living environments in Europe. We build homes for a good life, spaces where people and businesses can thrive, and infrastructure that supports the essential functions of society. We operate in seven countries and employ approximately 4,100 professionals. In 2025, our revenue was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.
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