Eastern European Markets

December the 9th, 2011

YIT delivered another residential building ahead of schedule in Komendantskiy kvartal block in St Petersburg, Russia

YIT has received permission to put Building 11 V of the Komendantskiy Kvartal residential block into operation three months earlier than planned. Originally, the building was expected to be completed at the end of February 2012. The project has progressed ahead of schedule, and other buildings in the area have also been completed earlier than planned.

Building 11 V has 16 floors, with a total area of 9,700 m2. The building has 150 apartments: studios as well as one-bedroom and two-bedroom apartments. All of the apartments are sold with finished surfaces or as turnkey projects.

Komendantskiy Kvartal is one of YIT’s largest projects in St Petersburg. The residential block consists of eight buildings, which have 16−25 floors. When completed, the area will house about 1,550 apartments, with a total area of 98,000 m2. A multistorey parking building with 300 spaces has already been completed. One more residential building will be constructed in the area: Building 9 BV is expected to be completed in 2012.

Komendantskiy Kvartal is located in Primorsk, a popular district near the Komendantskiy Prospekt and Pionerskaya metro stations. The district has a great variety of shopping and leisure centres as well as hypermarkets and smaller shops. Komendantskiy Kvartal is located close to schools, day-care centres and medical centres. Major roads and exits to the ring road are also close by.

About YIT:
YIT is a leading European service company in building systems, construction services and services for industry. We build, develop and maintain quality living environments in the Nordic countries, Central Europe, Russia and the Baltic countries. In 2010, YIT's revenue was approximately EUR 3.8 billion. The Group has about 26,000 employees. YIT's shares are listed on NASDAQ OMX Helsinki.

About Zao YIT:
AO YIT Sankt-Peterburg is a residential construction company operating under the YIT DOM brand. The company is part of the YIT Group. YIT has delivered more than 620,000 m2 of apartment space in St Petersburg. The company has completed more than 160 projects for a broad variety of purposes, from service station networks to water treatment plants and large plants for heavy and light industries. In all of its construction projects, the company operates as the orderer, principal investor and developer.

Further information
Vesa Pirinen, Senior Vice President, Business Development
International Construction Services, tel. +358 40 532 2211
Anna Zhukova, PR Specialist, YIT Sankt-Peterburg, tel. +7 921 333 82 25

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