Pre-purchased Homes Can Become a Problem for Housing Developers

Nordic — The housing developers suffer greatly from the pending purchase willingness of households when it comes to new construction housing. It is difficult to raise the level of pre-purchased homes, although most people believe that there are still few unsold apartments at completion. But for those who signed up for pre-sale, the situation now looks radically different, where there are now reports that the buyers are trying to pull out of sale. Nordic Property News has taken a closer look at how big the exposure is for the companies with their homes that are under production.

Essi Nikitin Appointed Vice President, Investor Relations of YIT

Finland Finland — Essi Nikitin has been appointed Vice President, Investor Relations of YIT Corporation as of 4 August, 2023.

YIT to Build School in Janakkala

Finland Finland — The municipality of Janakkala has chosen YIT to build the new school and multipurpose centre in Tervakoski. The total value of the contract is approximately EUR 17 million.

YIT Downplays 2023 Expectations on the Housing Market

Finland Finland — YIT lowers its guidance for the full-year 2023 due to weaker-than-expected housing market and provides preliminary financial information for its first quarter 2023.

YIT to Renovate Hotel Kämp in the Centre of Helsinki

Finland Finland — YIT renovates Hotel Kämp, owned by Ilmarinen Mutual Pension Insurance Company, in the centre of Helsinki. The project will be implemented as a project management contract.

YIT Makes Residential Investment in Helsinki

Finland Finland — YIT has launched a self-developed residential construction project called Asunto Oy Helsingin Nihdin Torni in Sompasaari, Helsinki. The 16-storey residential building will have a total of 29 apartments. The value of the project is approximately EUR 32 million.

YIT Launches New Residential Construction Project

Finland Finland — YIT has launched a self-developed residential construction project called As Oy Espoon Tuultentietäjä in Tapiola, Espoo in December. A total of 78 apartments will be constructed for the project. The value of the project is approximately EUR 47 million.

Trio Gets Green Light for Helsinki Development

Finland Finland — YIT, Keva and the City of Helsinki to continue joint development of the Maria area – local detailed plan confirmed.

YIT Gets Assignment from City of Tampere

Finland Finland — YIT has been selected to carry out the Tampere City Central Office Building renovation and expansion.

Heikki Vuorenmaa Appointed CEO at YIT

Finland Finland — The Board of Directors of YIT Corporation has appointed Heikki Vuorenmaa to the position of President and CEO effective 1 December 2022 at the latest. Markku Moilanen will step down from his current position as President and CEO by the end of November and continue as Senior Advisor until the end of the year.

YIT's Head of Property Development Leaves the Company – Returns to Capman

Finland Finland — Ilkka Tomperi, Executive Vice President, Property Development and a member of the YIT management team will leave YIT to join another company outside of YIT. He will continue in his position until the end of 2022.

YIT Completes Building for DWS

Finland Finland — YIT’s modern logistics properties developed for, and sold to, DWS Group have been completed.

YIT Divests Business and Service Premises to OP's Fund

Finland Finland — The second phase will commence with the construction of business and service premises for HUS. The property has been sold to OP-Public Services Real Estate special fund.

YIT Launches Several Residential Construction Projects

Finland Finland — YIT has started several residential apartment building projects in Finland and CEE countries in April-June 2022.

Keilaniemi's Growth Continues – New JV Established

Finland Finland — HGR, Ilmarinen and YIT have established a joint venture regarding real estate development activities in Keilaniemi.

YIT Adds New Key-player

Finland Finland — Strengthens the transaction and investment side with a recruitment from SEB.

YIT Sells Its Share in an Office Property in Slovakia

Finland Finland — YIT has sold its 50 percent share of the Pradiareň 1900, a project company owning an office property in Bratislava, Slovakia to a newly established sub-fund of RSJ Investments. RSJ Investments is a Czech real estate investor and a joint venture partner of YIT Slovakia in several projects via separate fund. Debt-free transaction price is approximately EUR 35 million.

YIT to Construct Office Building in Espoo Area

Finland Finland — YIT is launching the construction of the five-storey office building and a car park that will serve housing units of Tuultenristi in Tapiola.

YIT Gets Assignment from Nokia

Finland Finland — YIT has signed a contract agreement with Nokia regarding the building of new facilities in Oulu.

After the Russian Exit: How YIT Helps Ukrainian Refugees

Finland Finland — Ilkka Tomperi, EVP, Property Development at YIT, on the measures in the company's premises – to help the Ukrainian people settle down in Finland.

YIT Comments on Russian Operations

Finland Finland — YIT accelerates its strategic review and ceases plot investments and apartment start-ups in Russia.

YIT Buys Two Plots in Espoo

Finland Finland — YIT has bought two plots from LähiTapiola, located in Tapiola, Espoo, in the immediate vicinity of the shopping mall AINOA and the Tuultenristi area development project, at Itätuulenkuja 6 and 8.

”We Are Right Now Reviewing Alternative Paths”

Finland Finland — Construction giant YIT on the Russian future – after the announcement last year that the company will evaluate its strategic options in the country.

The Ground-Breaking Real Estate Development in Hot Helsinki Area

Finland Finland — Ilkka Tomperi, EVP, Property Development at YIT, on the JV together with HGR and Ilmarinen: “Keilaniemi is one of the leading office areas already and its development is going to continue being rapid.”

YIT to Make a Bigger Mark in Housing

Finland Finland — YIT’s CEO Markku Moilanen on the new strategy for the giant, why they consider leaving Russia, and the new growth plans in the housing segment.