YIT OYJ YIT and a newly-established affiliate of
"The co-investment model allows YIT to receive additional profits through its minority ownership in the structure. The investment will also increase the weight of residential assets in YIT's investment portfolio thus balancing the portfolio", says Pasi Huhtakangas, Vice President, Co-investments, YIT.
"We are excited to be able to increase our exposure to the Finnish residential sector with this sizeable and high-quality portfolio of build-to-rent residential assets. This co-investment allows us to further strengthen our relationship with the leading residential developer YIT, which makes it even more exciting" says
Preliminary agreement has been signed for all projects and projects will be entered in the order book when the project-specific agreements are signed. Revenue from construction is recognized according to the degree of completion in the Housing Finland and CEE segments and investment return in the Partnership properties segment.
For further information:
Pasi Huhtakangas, Vice President, Co-investments,
YIT Corporation
Vice President, Investor Relations
Distribution: Nasdaq
YIT is the largest Finnish and a significant North European urban developer and construction company. Our goal is to create more sustainable, functional and attractive cities and living environments. We develop and build apartments, business premises and entire areas. We also specialise in demanding infrastructure construction. We own properties together with our partners, which supports the implementation of our significant development projects. We also provide our customers with services that increase the value of properties. We employ approximately 7,400 professionals in ten countries:
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