Helsinki, Finland, 2014-09-17 08:00 CEST (GLOBE NEWSWIRE) -- YIT CORPORATION INVESTOR NEWS SEPTEMBER 17, 2014 AT 9:00 A.M.
YIT sells day care and assisted living facilities to the eQ Care non-UCITS fund
YIT has signed agreements with the eQ Care non-UCITS fund on the sale of two day care centres and one assisted living facility that are under construction. In addition, pre-agreements were signed regarding two assisted living facilities, the construction of which will begin this autumn and the coming spring. All the facilities are located in the Helsinki region. The total value of the agreements and the pre-agreements is roughly EUR 25 million.
The floor area of the day care centres located in Kirkkonummi’s Sundsberg and in Veikkola is 600 and 800 square metres, and provide day care to nearly 200 children in spring 2015. The tenant and day care service provider is Suomen Tenava päiväkodit Oy. There will be a total of approximately 150 apartments in the three assisted living facilities for elderly people and persons suffering from memory disorders. The service provider in these facilities is Uudenmaan Seniorikodit Oy.
Day care and assisted living facilities have been designed in cooperation with the service providers and the facilities’ special characteristics have been taken into consideration in the planning. The day care centres will be stimulating and cosy for both children and personnel. The assisted living facilities have been designed to be home-like, cosy and safe.
“The eQ Care non-UCITS fund has grown quickly and can make significant investments worth tens of millions of euros. The facilities to be bought now all have good locations in the capital region. We believe that these high-quality facilities will retain their position in the service network and serve their customers for a long time,” says Robert Landtman, Investment Director of the eQ non-UCITS fund.
“At YIT, the number of care projects is increasing. Day care and assisted living facility projects are based on close cooperation with the service providers and projects are developed and initiated together. According to plans for next year, YIT will construct in the Helsinki metropolitan area or near vicinity approximately ten new care facility projects or renovated care facility projects that have been converted into new use. In addition to the signed agreements, eQ and YIT agreed on future cooperation in care projects,” says Timo Erkkilä, Head of Unit at YIT.
Illustration on an assisted living facility can be found here:
http://yit.materialbank.net/NiboWEB/YIT/showCartPublicContent.do?uuid=6319085&random=758517&lang=en
For further information, please contact:
Sanna Kaje, Vice President, Investor Relations, YIT Corporation, tel. +358 50 390 6750, sanna.kaje@yit.fi
Timo Erkkilä, Head of Unit, Business Premises, YIT Construction Ltd, tel. +358 40 540 4313, timo.erkkila@yit.fi
Robert Landtman, Investment Director of the eQ (non-UCITS) fund, tel. +358 50 374 6069, robert.landtman@eq.fi
YIT CORPORATION
Sanna Kaje
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