Sunday, March 04, 2007

YIT Agrees to EUR 69 Million Sale Leaseback of Helsinki HQ

YIT Web Site - March 2, 2007

Finnish construction group YIT has decided to expand its head office in Käpylä, Helsinki, and agreed on the sale of the extension to RBS Nordisk Renting for EUR 69 million. Furthermore, Ilmarinen Mutual Pension Insurance Company will sell the office premises used by YIT in Käpylä to RBS Nordisk Renting.

YIT will develop and build the extension. Upon the completion of the project, YIT will move into the premises under a 15-year lease. The extension will measure about 15,000 m2. Construction will begin in March 2007 and the new office building is slated for completion by the end of 2008. The extension will have workspace for a total of about 600 people.

At the same time, the existing commercial premises on the property will be extended and modernized, and a four-storey parking lot will be built mainly underground for the property. Sphere: Related Content

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