Helsinki, Finland, 2014-04-09 12:00 CEST (GLOBE NEWSWIRE) -- YIT CORPORATION INVESTOR NEWS APRIL 9, 2014 AT 1:00 P.M.
YIT started the construction of the first phase of a residential project in Bratislava, Slovakia
YIT’s subsidiary in Slovakia, YIT Reding, has started the first phase of a residential project, Tammi Dubravka, in a popular Dubravka district in Bratislava, Slovakia. The value of the first phase is approximately EUR 10 million and it is estimated to be completed in autumn 2015. The value of the whole project is estimated to be around EUR 35 million.
The first phase consists of one apartment building with approximately 100 apartments and a total floor area of around 5,000 floor square meters. The emphasis will be on small 2-bedroom apartments that are currently in high demand on the market. As a whole, the project will include three apartment buildings consisting of over 300 apartments and a total floor area of around 20,000 floor square meters. In addition to the apartments, the project will include 10 commercial premises. There is also the opportunity to extend the project with two phases in the future.
“Tammi Dubravka is located close to our existing residential project Tarjanne Dubravka and will also benefit from the in-demand location with good commercial services including a shopping mall nearby. Public transportation connections to the area are also under development. The project focuses on affordable apartments with efficient design, and offers an attractive alternative for customers who prefer this neighborhood”, says Milan Murcko, General Director of YIT Reding.
For further information, please contact:
Sanna Kaje, Vice President, Investor Relations, YIT Corporation, tel. +358 50 390 6750, email@example.com
Tom Sandvik, Head of the Baltic Countries and CEE division, YIT Construction Ltd, tel: +358 400 617 807, firstname.lastname@example.org
Vice President, Investor Relations
Distribution: NASDAQ OMX, principal 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 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