YIT expands its operations to Siberia and has acquired
YIT Uralstroi, a Russian subsidiary of YIT Corporation, has acquired a plot in the city of Tyumen in Western Siberia, Russia. Tyumen has a population of nearly 700,000 and is one of the wealthiest cities in Russia. If the number of inhabitants of the city and its surrounding areas continues to grow at its current pace, it will probably reach 1,000,000 by the end of the current decade. The Tyumen region, famous for its natural gas and oil resources, is located in Western Siberia, approximately 2,000 kilometres from Moscow. Another aspect that adds to Tyumen’s attraction is the fact that the wealthy Khanty-Mansi and Yamalo-Nenets Autonomous Districts are located nearby, to the north of Tyumen. There are several Western companies operating in the city. The area of the plot that YIT has acquired is 3.16 hectares and residential construction will begin in 2013. The block will consist of altogether six 18-storey buildings, with plans for 890 apartments in total. All in all, YIT will build more than 40,000 square metres of residential space and approximately 2,300 square metres of other facilities on the plot.
The plot is located in the Dom oborony district of Tyumen, which offers a wide variety of services. In proximity to the residential block to be built, there are several supermarkets, grocery shops, schools, day care centres and businesses offering everyday consumer services. Zatyumensky Park, a popular recreational area among the locals, is also located nearby. The plot has good connections to the city centre and the airport, for instance.
“YIT has operated in the Russian market for more than 50 years, and we have previously executed projects for the oil and gas industry in Western Siberia. YIT also had a representative office in Tyumen before. Now we are coming back to town, this time to build residential units. I believe that our existing experience helps us to execute new projects successfully. Soon we can offer an extensive selection of homes in our new residential block to inhabitants of Tyumen,” says Fyodor Voropayev, Development Manager in charge of expanding YIT’s geographical footprint in the Ural region.
About YIT Uralstroi:
For further information: