YIT acquires new plot in the centre of Rostov-on-Don in southern Russia
YIT’s Russian subsidiary YIT Don has acquired a 2.7 hectare plot in the Leninsky district located in the centre of Rostov-on-Don. The plan is to build four 20-storey apartment buildings on the plot, with nearly 1,000 apartments of one to three rooms each. The total floor area of the buildings will be over 48,000 square metres and the total value of the project is estimated at approximately EUR 90 million. Construction is expected to start by the end of 2014, with an intended date of completion for the full project in autumn 2019. The price of the plot will be paid in several instalments as construction work progresses
Recreational facilities and playgrounds will be built in the area surrounding the apartment complex. In addition, there are plans for parking spaces for nearly 300 cars in the area. The plot is located within walking distance of a park. The area has good public transport links and comprehensive daily and municipal services.
“The design of the apartment complex is characterised by a simplified Scandinavian style that is typical of Finnish architecture. This design direction is reflected in the entire complex and on each floor of the apartment buildings. Architects that represent modern residential design will be selected to implement the plan. We are confident that, much like our previous successful projects in Rostov-on-Don, this complex will also be highly valued by customers as we help create a better living environment in the centre of the city”, says Andrey Shumeyev, General Director of YIT Don.
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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 for 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 caring for our customers, partners and personnel. We have more than 6,000 employees in seven countries. In 2012, our revenue amounted to approximately EUR 2 billion. Our share is listed on Nasdaq OMX Helsinki.
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