YIT Started the Construction of Five Apartment Buildings in Russia in July–September

Finland Finland — YIT has started the construction of five new apartment buildings in Russia in July–September. The properties are located in St. Petersburg, Yekaterinburg and the Moscow region, and their combined value exceeds EUR 40 million. The buildings will consist of nearly 800 apartments in total. The residential start-ups will be entered in the order backlog of the third quarter of 2020.

YIT's CEO Kari Kauniskangas to Step Down

Finland Finland — Kari Kauniskangas will leave his position as the President and CEO of YIT Corporation. The Board of Directors has already embarked upon the search process for a new CEO, and appointed Antti Inkilä, EVP of Housing Finland and CEE segment of YIT, as interim President and CEO effective 23 October 2020.

The Local Detailed Plan of the Kruunuvuorenranta Centre Block Is Progressing

Finland Finland — The preliminary contract on the sale of the property and local detailed plan proposal of YIT and the City of Helsinki concerning the planning and implementation of the Kruunuvuorenranta Centre Block are progressing and will be discussed in the Urban Environment Division on October 20, 2020. YIT was selected as the Centre Block negotiating partner for the City of Helsinki through registration and negotiation proceedings organised in 2017.

“We Are in a Solid Position for Next Year”

Finland Finland — Just over six months have passed since the corona outbreak started to make an impact on the investment market across Europe. How has it affected the Nordic giants? Nordic Property News has spoken to some of the companies in the Nordics. Today: Kari Kauniskangas, CEO of the Finnish construction heavyweight, YIT.

YIT Is Constructing a Multi-purpose Building in Sodankylä

Finland Finland — YIT and the municipality of Sodankylä in Nothern Finland have signed contracts for the planning and construction of a multi-purpose building and the maintenance of the property for 20 years using the life cycle model. Construction work will begin in the autumn 2020 and end in August 2022.

YIT and OP Establishes a Company for Residential Investments

Finland Finland — YIT and OP-Rental Yield special fund have agreed to establish a company investing in rental apartments. In the same connection, YIT has agreed on the sale of eight rental apartment buildings to the company.

Construction Effects for the Heavyweight Due to the Pandemic

Finland Finland — YIT’s CEO Kari Kauniskangas on the postponed investments in Finland due to the coronavirus, and the dispute in Mall of Tripla: “We were forced to rush things.”

YIT Has Started Four New Apartment Building Projects in Russia

Finland Finland — YIT started four new apartment building projects in Russia in April–June. The projects are located in Yekaterinburg, St. Petersburg and Kazan. The total value of the projects exceeds EUR 50 million, with over 800 apartments to be completed.

The Russian Support of the Mortgage Rate is Very Positive According to YIT

Finland Finland — "The guarantee interest rate of 6.5 % is all time low in Russia and from the customers' point of view very positive", Teemu Helppolainen, Executive Vice President, Housing Russia segment, YIT, tells Nordic Property News.

Perhelä Office Building gets new Main Tenants

Finland Finland — YIT has signed long lease agreements with OP Uusimaa and the City of Järvenpää for premises in the Perhelä block’s office building in Järvenpää, Finland.

New Demands on the Office Market to Expect: “The Required Space Will Be Reduced”

Finland Finland — The coronavirus spring started discussions about the future of open plan offices, but a bigger transformation has been in progress for a long time. Tuula Klemetti, Sales Director of Business Premises at YIT, tells Nordic Property News about the new office reality after the pandemic.

The Demands in the Care Sector: “Innovative Solutions Are Needed”

Finland Finland — Construction giant YIT’s Executive Vice President, Business Premises segment, Tom Ekman, tells Nordic Property News about the JV project in Espoo and effects on the construction market in Finland, due to the corona crisis.

YIT and Meridiam JV to Implement School and Care Properties

Finland Finland — Kumppanuuskoulut Oy, owned by YIT and Meridiam, has signed a service agreement on implementing five schools and three daycare centres in Espoo.

YIT Will Build a Modern Logistics Centre for Wärtsilä

Finland Finland — YIT and technology company Wärtsilä have agreed on the construction of the Smart Technology Hub’s logistics centre in Vaskiluoto, Vaasa, Finland. The construction work begins in June 2020. The logistics centre is scheduled to be completed by the end of October 2021.

YIT to Participate in the Construction of the New HUS Eye Hospital in Helsinki

Finland Finland — YIT and HUS Kiinteistöt Oy have signed a contract for the implementation of the new eye hospital in Meilahti, Helsinki, Finland. The development phase, which has just been launched, will last until the end of 2020. The transfer to the implementation phase will require a separate order and it will be attached to the signed contract at a later stage. The project is due to be completed in 2023.

YIT Builds Apartments for OP

Finland Finland — YIT has signed contracts with OP funds on the realisation of residential projects and an assisted living facility project in Finland with a total value of approximately EUR 44M.

YIT Signs a Pre-Agreement Regarding the Main Contract for the Hospital Area in Koskela

Finland Finland — YIT and the City of Helsinki have agreed on the construction of HITAS, right of residence, rental and special apartments as well as an underground parking garage in the Koskela hospital area.

YIT Sells the Kankaan Arkki Office Property in Jyväskylä

Finland Finland — YIT and the Non-UCITS fund Aktia Commercial properties have signed an agreement on the sale of the Kankaan Arkki office property in Jyväskylä. The construction of Kankaan Arkki began in January 2020 and is scheduled to be completed in February 2021.

DWS Acquires Espoo Property from Regenero

Finland Finland — YIT’s and HGR Property Partners’ joint venture Regenero has completed the sale of Accountor Tower in Keilaniemi, Espoo to a fund managed by DWS following an agreement signed in August 2019. The parties have agreed not to disclose the purchase price.

YIT Constructs its First Timber-Based Module Apartment Building

Finland Finland — YIT has started to build the first wooden apartment building in its history on Tieteenkatu street in Hervanta, Tampere.

YIT’s Plans for the Education Project in the Attractive Area

Finland Finland — Esa Neuvonen, YIT’s EVP, Business premises segment and Partnership properties segment: “Savilahti area will be Kuopio’s largest concentration of education, work and housing in the future.”

YIT Signs Contract for Construction of Kuopio Premises

Finland Finland — YIT and Sakky have signed an implementation phase contract for the construction of Sakky’s new premises in the Savilahti area in Kuopio.

YIT’s CEO: “Our Position Is Stronger than I Expected”

Finland Finland — The listed construction company YIT’s President and CEO Kari Kauniskangas on last year's results and which giant project that provide the positive figures.

YIT Signs an Agreement on the Implementation Phase of Hospital

Finland Finland — YIT, as part of an alliance, has signed an agreement on the implementation phase of the first part of Lapland Central Hospital expansion project.

YIT Builds a New Cruise Terminal for the Port of Tallinn

Finland Finland — YIT has signed a contract with Port of Tallinn about the construction of a new cruise terminal in Tallinn.