YIT and Fidus Vuokratalot Oy, a company founded by Sirius Capital Oy, have signed an agreement on the construction of 13 rental housing properties in Finland. The agreements concern more than 700 apartments.
The final implementation contract has been signed for the first four residential development projects and it will be entered in the order book for the second quarter of the year. In addition, preliminary contracts have been signed for the other projects and they will be entered in the order book when the project-specific agreements are signed.
"We are pleased to be involved in Sirius Capital expanding its real estate investment business into the residential segment," says Marko Oinas, Interim Executive Vice President, Housing Finland & CEE at YIT.
The combined value of the agreements is approximately EUR 170 million. Construction will start gradually this year and next. The projects are scheduled to be completed in 2022 and 2023.
For further information, please contact:
Tommi Järvenpää, Vice President, Investor Relations, YIT Corporation, tel. +358 40 576 0288, tommi.jarvenpaa@yit.fi
Marko Oinas, Interim Executive Vice President, Housing Finland & CEE, YIT Corporation, tel. +358 40 506 7430, marko.oinas@yit.fi
YIT Corporation
Tommi Järvenpää
Vice President, Investor Relations
Distribution: NASDAQ Helsinki, major media, www.yitgroup.com
YIT is the largest Finnish and a significant North European urban developer and construction company. Our goal is to create more sustainable, functional and attractive cities and living environments. We develop and build apartments, business premises and entire areas. We also specialise in demanding infrastructure construction. We own properties with our partners, which supports the implementation of our significant development projects. We also provide our customers with services that increase the value of properties. We employ approximately 7,400 professionals in 10 countries: Finland, Russia, Sweden, Norway, Estonia, Latvia, Lithuania, Czech Republic, Slovakia and Poland. Our revenue in 2020 was approximately EUR 3.1 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy.