Eastern European Markets

September the 11th, 2012

YIT launches the sale of apartments in new residential complex
in downtown St. Petersburg, Russia

YIT has begun the sale of apartments in the Novomoskovsky residential complex in Moskovsky Prospekt 65, St Petersburg, Russia. The property is located in the immediate vicinity of the Frunzenskaya subway station, in close proximity to the city centre. Construction work at the site began in June.

YIT will build a complex of three apartment buildings on the 2.5 hectare site. The area has been in industrial production use, but will now be turned into a comfortable residential neighbourhood. Other sites in the immediate area are also to be turned into residential use.

The Novomoskovsky project will be carried out in two phases. The first stage comprises the construction of two apartment buildings with 318 and 156 apartments and 9 and 11 floors respectively. The second stage will consist of a third building with 427 apartments. The first stage is planned for completion in 2014 and the second in 2015.

Special features of the property include saunas in some apartments as well as spacious balconies with glazing. Underground parking garages will have elevator access. The architectural design takes into account the needs of people with reduced mobility: special parking spaces, wide corridors, and unobstructed walkways in the outdoor areas. Novomoskovsky represents the comfort plus -class of housing.

"The current residential market in St Petersburg is fairly lively. There is particular demand for well-equipped, high-quality apartments from reliable developers. We plan to launch three or four new projects each year. In 2012, construction and sales have already started on three sites, and several more will be started before the end of the year. One of the new sites to be launched will be the first stage of the property located on Smolny Prospekt in the historic centre of the city," says Mikhail Voziyanov, Director General of YIT Sankt-Peterburg.

About ZAO YIT Sankt-Peterburg:

ZAO YIT Sankt-Peterburg is a YIT Group subsidiary that constructs residential buildings under the YIT Dom service concept in St. Petersburg and the Leningrad Oblast. Company operates also in the field of commercial real estate development. YIT Sankt-Peterburg has delivered more than 670,000 square meters of apartment space and completed more than 170 projects for various purposes, from service stations and water treatment plants to large production facilities for heavy and light industry.

YIT mainly focuses on serving the growing middle classes of St. Petersburg by building comfort plus, business and elite class apartments. The classification is based on such factors as location, type of load-bearing structures, ceiling height, layout of the apartment, and ratio of the surface area and number of rooms.

For further information:
Vesa Pirinen, Senior Vice President
Business Development, International Construction Services
tel. +358 40 532 2211,
Anna Žukova, Communications Specialist, YIT St. Petersburg
tel.+7 921 333 8225,
Igor Arkhipov, PR Director, YIT St. Petersburg
tel. +7 921 954 0618,

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