YIT - Company Announcement

YIT will start two apartment building projects in Saint Petersburg

Helsinki, Finland, 2015-06-15 15:00 CEST (GLOBE NEWSWIRE) -- YIT CORPORATION   
          STOCK EXHANGE RELEASE      JUNE 15, 2015 AT 4:00 P.M. 



YIT will start two apartment building projects in Saint Petersburg

YIT will start the construction of two apartment building projects in Saint
Petersburg, Russia. A new project will be started on Vasilyevsky Island, in
addition to which, the second phase of an area development project will be
started in Pushkin, a suburb of Saint Petersburg. The total value of the
projects that are now started is approximately EUR 90 million and they will
comprise approximately 670 apartments. 

The project named Fjord to be constructed on Vasilyevsky Island will cover two
buildings, one for business class and one for comfort class. The buildings will
comprise approximately 390 apartments and a total living area of around 25,400
square meters. In addition to apartments, the project will include 22
commercial spaces and underground parking lots. The project is estimated to be
completed in the autumn of 2017. 

The second phase of the area development project in Pushkin will cover four
5-storey buildings with 280 apartments and a total living area of around 11,530
square metres. The second phase is estimated to be completed by the spring of
2017. The first phase of the project, the construction of approximately 600
apartments, was started in November 2013, and the apartments will be handed
over to customers in phases by the end of 2016. 

“On Vasilyevsky Island, all the apartments of the project that was completed at
the end of 2014 have been sold, and there are only few apartments unsold in the
project that will be completed in autumn 2015. The Fjord project maintains
supply in this area that has traditionally been strong for YIT. Also the sales
rate of the first phase of Pushkin is high, and the second phase that is now
started increases supply especially in the apartment types that have enjoyed
strongest demand”, says Kari Kauniskangas, President and CEO. 



For further information, please contact:

Sanna Kaje, Vice President, Investor Relations, YIT Corporation, tel. +358 50
390 6750, sanna.kaje@yit.fi 
Teemu Helppolainen, Head of Housing Russia business segment, YIT Construction
Ltd, tel. +7 915 316 8216, teemu.helppolainen@yit.ru 



YIT CORPORATION



Sanna Kaje
Vice President, Investor Relations



Distribution: NASDAQ OMX, major media, www.yitgroup.com

YIT is a construction industry leader. We create better living environments in
Finland, Russia, the Baltic countries, the Czech Republic and Slovakia. Over
100 years of experience have secured us a strong market position: we are the
largest housing developer and one of the largest business premises and
infrastructure developers in Finland, and the most significant foreign housing
and area developer in Russia. Our vision is to stay one step ahead - while
taking care of our customers, partners and personnel. We have nearly 6,000
employees in seven countries. In 2014, our revenue amounted to around EUR 1.8
billion. Our share is listed on NASDAQ OMX Helsinki. www.yitgroup.com