Helsinki, 2012-02-09 12:00 CET (GLOBE NEWSWIRE) -- YIT CORPORATION PRESS RELEASE 9 JANUARY 2012 at 13:00
YIT SUPPLEMENTS ITS PLOT RESERVES IN YEKATERINBURG, RUSSIA
YIT Uralstroi, which carries out housing development projects in Yekaterinburg and the Sverdlovsk Oblast in Russia, has acquired a new plot in the Ordzhonikidze district. YIT Uralstroi already owns a plot that it acquired in December 2011 next to the new one. The combined total square area of the two plots is 1.6 hectares.
"The plot transaction is fully compatible with the strategy of YIT Uralstroi. At the moment, our project located on ul. Elektrikova street is ready, and the location has been sold. As a result of the new location, we can supplement the reserves of our flats under construction," says Fedor Voropaev, Managing Director of YIT Uralstroi.
On the acquired plot, YIT will build a residential building where the number of storeys ranges from 8 to 15. Based on initial plans, the combined square area of the residential spaces will be 18,600 square metres, and there will be a total of 286 flats. The goal is to also build a separate underground parking facility for 160 cars. The construction work launch is scheduled for the second half of 2012.
The location of the residential buildings is good. The plots are situated in an established suburb with advanced infrastructure: stores, enterprises that provide daily services, seven schools and nine kindergartens, higher education and vocational institutes. The area also has a park zone, two metro stations and stops for many tram, trolley bus, regular bus and route taxi lines.
Yekaterinburg is the centre of the Ural region
With regard to population, Yekaterinburg, with 1.4 million residents, is the fourth largest city in Russia and one of the most actively developing areas. In 2002, Unesco named Yekaterinburg as one of the world's 12 most ideal cities. In 2009, Forbes ranked Yekaterinburg as fourth best with regard to Russia's commercial development opportunities. At the moment, Yekaterinburg is one of the candidates in the running to arrange Expo 2020. In 2018, some World Cup football matches will be played in Yekaterinburg.
For further information, please contact:
Teemu Helppolainen, Senior Vice President, Head of Division Moscow and Russian Regions, teemu.helppolainen@yit.ru, +7 915 316 8216
YIT CORPORATION
Virva Salmivaara
Senior Vice President, Corporate Communications
YIT celebrates its 100th anniversary in 2012. The company was established in the Grand Duchy of Finland in 1912. Today, YIT is a leading European service company in building systems, construction services and services for industry. Our 26,000 professionals serve customers in 14 countries in the Nordic and Baltic countries, Russia and Central Europe. 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 2010, YIT’s revenue was approximately EUR 3.8 billion. YIT’s shares are listed on NASDAQ OMX Helsinki. www.yitgroup.com
YIT Uralstroi is a subsidiary of YIT Group in Yekaterinburg, Russia. YIT has operated in the region since 2006. YIT Uralstroi builds homes in compliance with the international YIT Home concept in Yekaterinburg and the Sverdlov region. YIT Uralstroi has built the Justas residential building in Verhnaja Pyshma and the Velikolepnaja vosmjorka residential building and its car park in Yekaterinburg. YIT Uralstroi is currently building three groups of residential buildings. www.yitural.ru