Helsinki, Finland, 2015-03-19 14:30 CET (GLOBE NEWSWIRE) -- YIT CORPORATION INVESTOR NEWS MARCH 19, 2015 AT 3:30 P.M.
YIT has acquired a plot for a significant area development project in Prague, the Czech Republic
YIT has acquired an approximately 9 hectare plot in Prague’s 9th district for its area development project. The plot acquisition is a significant step as a growth enabler for business operations in the Czech Republic and supports YIT’s strategy to increase the weight of CEE-countries as a third geographical cornerstone. The plot payment will be made in instalments during coming years.
The plan is to build a total of nearly 900 apartments, with total living area of around 57,000 square metres on the plot. The project will be constructed in several phases. The acquired plot is located in one of the fastest developing parts of the city, along the Rokytka Creek. The good public transport connections, green area and the vicinity of versatile services makes the location an attractive living area.
For additional information, please contact:
Sanna Kaje, Vice President, Investor Relations, YIT Corporation, tel. +358 50 390 6750, sanna.kaje@yit.fi
Tom Sandvik, Head of The Baltic countries and Central Eastern Europe business division, tel. +358 400 617 807, tom.sandvik@yit.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 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 taking care of our customers, partners and personnel. We have nearly 6,000 employees in seven countries. In 2014, our revenue amounted to around EUR 1.8 billion. Our share is listed on NASDAQ OMX Helsinki. www.yitgroup.com