YIT Signs Contract to Construct Three Privately Financed Apartment Buildings in Finland

YIT and LocalTapiola's Asuntorahasto Prime Ky housing fund have signed a contract for building three privately financed apartment buildings in Finland. The value of the contract is over EUR 20 million.

The targets will have a total of 133 apartments, located in Kerava, Tampere and Turku. Construction of the apartment buildings will begin in phases during the summer, and the work will be completed in 2014.

”We are happy to continue our long cooperation with LocalTapiola. The current contract answers the growing demand for rental housing and contributes to the creation of a varied offering in the housing market,” says Senior Vice President Harri Isoviita from YIT.

”The buildings now contracted will make comfortable homes. The project will also spread the fund's portfolio investments outside the Helsinki metropolitan area,” says Director Kim Särs from LocalTapiola Real Estate Asset Management Ltd.

For further information, please contact:

Harri Isoviita, Senior Vice President, Residential Construction, YIT Construction Services Finland, tel. 040 553 3833, [email protected]

Matti Koskela, Senior Vice President, Building Construction, YIT Construction Services Finland, tel. 040 557 6520, [email protected]

Kim Särs, Director of Real Estate, LocalTapiola Real Estate Asset Management Ltd., tel. +358 40 501 9981, [email protected]

YIT is a leading European service company in building systems, construction services and services for industry. We have more than 25,000 professionals serving customers in 14 countries in the Nordic and Baltic countries, Russia and Central Europe. For over one hundred years we have grown together with our customers and developed our services in line with the changes taking place in different societies. We intend to continue on that track. Our vision is to lead the way in creating and maintaining good living environments. In 2012, YIT’s revenue was approximately EUR 4.7 billion. YIT’s shares are listed on the NASDAQ OMX Helsinki. www.yit.fi

Source: http://www.yitgroup.com

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