Helsinki, Finland, 2015-11-25 09:00 CET (GLOBE NEWSWIRE) -- YIT CORPORATION INVESTOR NEWS NOVEMBER 25, 2015 AT 10:00 A.M.
YIT has acquired a plot for a new area development project in the centre of Bratislava, Slovakia
YIT has acquired an approximately 4 hectare plot in the centre of Bratislava. The plan is to build a new residential area with approximately 800 apartments in addition to which the plot includes an office area. The start of the first phase of the project has been scheduled for 2016 and will bring approximately 75 apartments to the area. YIT evaluates potential investor co-operation regarding the plot investment to improve capital efficiency.
The acquired plot is located in the city district Ruzinov neighbouring both the business district and the Old Town (Staré mesto). The area is locally well known as former Bratislava Thread factory or “Cvernovka”. The location is one of the best in the centre of Bratislava, within a walking distance from the city centre and the Danube river embankment. There are also excellent public transport connections in the area. The aim is to develop an attractive neighbourhood with modern and affordable living with diverse services and leisure activities.
During the year, YIT has acquired several significant plots in the CEE countries, and aims to increase its residential production in the area according to the Group strategy.
For further information, please contact:
Sanna Kaje, Vice President, Investor Relations and M&A, 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 and M&A
Distribution: NASDAQ OMX, major media, www.yitgroup.com
YIT is a construction industry leader. We create better living environments in Finland, Russia, the Baltic countries, the Czech Republic, Slovakia and Poland. 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 eight countries. In 2014, our revenue amounted to around EUR 1.8 billion. Our share is listed on NASDAQ OMX Helsinki. www.yitgroup.com