releases

Eastern European Markets

PRESS RELEASE
February 13, 2014

YIT continues its area development project in the city of Ramenskoye in Moscow region, Russia

YIT has begun the construction of a new 14-storey apartment building in the city of Ramenskoye in the Moscow Region. The selling of the apartments began at the same time. The apartment building under construction is part of the residential area being developed in Doninskoye Shosse, where four apartment buildings and 144 units in terraced houses with a total floor area of nearly 100,000 square metres are already in use. The apartment building being built consists of nearly 350 apartments with one to three rooms each. Some of the apartments will be sold with finished surfaces. The building has a total floor area of 22,600 square metres. The total value of the project exceeds EUR 20 million, and the apartment building is scheduled for completion by the end of 2015.

The new residential area in Ramenskoye belongs to a group of area development projects that are being targeted for rapid and extensive development. The other construction projects in the area include a day care centre for 140 children that will open its doors in late 2014. Services for residents of the area will be developed: business premises for shops, banks, pharmacies and other everyday consumer service providers have been planned for the ground floor spaces of the apartment buildings in the area. A 5,000-square-metre shopping center has been planned for the area. The decision of the construction will be made in the near future.

Ramenskoye is one of the fastest-growing urban areas in the Moscow Region. The city has good transport links to the capital. The centre of Moscow can be reached in about half an hour by the Express train.

For further information, please contact:
Sanna Kaje, Vice President, Investor Relations, YIT Corporation,
sanna.kaje@yit.fi , +358 50 390 6750
Juha Rissanen, Vice President, Moscow Region division, YIT Construction Ltd, Housing Russia business segment, juha.rissanen@yit.ru, +7 495 565 40 32

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 2013, our revenue amounted to nearly EUR 1.9 billion. Our share is listed on Nasdaq OMX Helsinki. www.yitgroup.com


Compiler´s choice - More News Releases

Archive from 2005 on - News Releases