Helsinki, 2013-11-20 11:00 CET (GLOBE NEWSWIRE) -- YIT has signed a contract with Yrjö and Hanna Foundation on the construction of an assisted living facility in Masala, Kirkkonummi. The value of the agreement is approximately EUR 11 million. The facility consists of 40 rental apartments with assisted living services and two group homes that have altogether 30 apartments. The construction on the site will begin at the end of November and the facility will be completed in March 2015.
Yrjö and Hanna Foundation supports the well-being of the elderly, the disabled and others who need help in their everyday. The Foundation has Yrjö and Hanna Homes in 11 locations around Finland, offering their residents with housing, care and nursing services.
The assisted living facility to be built is located in Ratavalli, a new cosy residential area developed by YIT in Masala, Kirkkonummi. The future plans for Ratavalli include a wide variety of different housing alternatives. Currently, YIT is building three apartment complexes in the area, and, all in all, the area will consist of ten apartment complexes.
“The new Ratavalli residential area is close to nature and has good transport connections. The assisted living facility being built will increase the area’s versatile housing options and services that can also be utilised by the future residents of other housing companies,” says Harri Isoviita, Senior Vice President at YIT.
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For further information, please contact:
Harri Isoviita, Senior Vice President, Residential Construction, YIT, tel. +358 40 553 3833, harri.isoviita@yit.fi
Sanna Kaje, Vice President, Investor Relations, YIT Corporation, tel. +358 50 390 6750, sanna.kaje@yit.fi
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 2012, our revenue amounted to approximately EUR 2 billion. Our shares are listed on Nasdaq OMX Helsinki. www.yitgroup.com