YIT Ehitus to bring 175 new apartments to the market

14 May 2008

The successful sales campaign enjoyed by YIT Ehitus in the Baltic States in the first three months of the year led to the need to continue construction of new apartment blocks. The company has now launched construction work on new buildings on Kadaka Road in Tallinn and on Põhja Street in Keila.

“The high level of interest among our clients in the first quarter of the year and the growth we saw in the number of sales is proof and a sign of trust that you can still operate successfully on the real estate market,” said Priit Sauk, Chairman of the Management Board of YIT Ehitus. “We believe we’ve found the point at which the sales prices are attractive to both our clients and the developers.”

“The selection on offer in the real estate portfolio we have today is too narrow for our clients and it’s time to start up again with previous projects,” explained Marko Sillar, Director of Marketing and Sales for YIT Ehitus. “We started construction work on apartment buildings at 137 Kadaka Road in Tallinn and at 8a2 and 8a3 Põhja Street in Keila at the beginning of May. Both projects had been on hold since the second half of last year, but the first quarter we had this year confirmed that activity on the real estate market was growing again. We completed construction of the Mäepealse 16 apartment block in Mustamäe at the start of May, too.”

The 137 Kadaka Road apartment building is 8-storey. It features 95 one to four-room apartments, with balconies, ranging from 44.0 to 105.1 square metres in size. The building is scheduled for completion by the end of 2008.

The Põhja 8a2 and 8a3 buildings in Keila are 4-storey and both feature 20 apartments. They are due for completion by autumn 2008. One of the buildings is being sold without interior finishing.

The Mäepealse 16 building is 6-storey with 40 apartments. Construction work on the new apartment block is now complete.

AS YIT Ehitus is an Estonian construction company that was founded in 1991. It has been a part of the YIT Group, Finland’s biggest construction service company, since 2001, employing more than 24,000 people in subsidiaries in eight countries. The turnover of the YIT Group in 2007 was 57.7 billion kroons, of which 3.4 billion kroons came from the Baltic States.

For further information please contact:

Priit Sauk, Chairman of the Management Board, AS YIT Ehitus
Telephone: + 372 665 2100 / E-mail: priit.saukyit.ee

Marko Sillar, Director of Marketing and Sales, AS YIT Ehitus
Telephone: + 372 665 2100 / E-mail: marko.sillaryit.ee