YIT Oyj

YIT started new apartment building project close to the historic centre of St. Petersburg

Press Release   •   May 21, 2014 10:00 GMT

YIT’s Russian subsidiary YIT St. Petersburg has started the construction of a new residential project in northeastern St. Petersburg, in the Krasnogvardeyskiy district. The total value of the project, which will be constructed in a single phase, is approximately EUR 70 million, and it is due for completion in late 2016.

The apartment building complex, named Toive, will feature nearly 490 apartments, varying from one to four rooms in size.  The total floor area of the project is approximately 25,000 floor square metres. In addition, 14 business premises are planned on the ground floor. The building will be 13 storeys high, and, in terms of architecture, it blends with the historic 1930s–1950s style of the surrounding buildings. A parking facility for some 170 cars will be built next to the building. 

Toive is located next to excellent traffic connections, only two kilometres from the Nevsky Prospect main street in the centre of St. Petersburg and a five-minute walk to the metro station. Several apartments in the building have a beautiful view over the Neva River and the city centre.

For additional information, please contact:

Sanna Kaje, Vice President, Investor Relations, YIT Corporation, tel. +358 50 390 6750, sanna.kaje@yit.fi

Jukka-Pekka Uuskoski, Vice President, Corporate Development, St. Petersburg, YIT Construction Ltd, tel. +7921 766 6029, jukka-pekka.uuskoski@yit.ru

YIT CORPORATION

Sanna Kaje
Vice President, Investor Relations

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 for 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 caring for our customers, partners and personnel. We have more than 6,000 employees in seven countries. In 2013, our revenue amounted to nearly EUR 1.9 billion. Our share is listed on Nasdaq OMX Helsinki. www.yitgroup.com