YIT selected as the partner for the development phase of the new building for the Meilahti pharmacy, central kitchen and parking facility

YIT Corporation Investor News 25 January 2024 at 2:00 p.m.

YIT selected as the partner for the development phase of the new building for the Meilahti pharmacy, central kitchen and parking facility

YIT has been chosen as the development phase partner for the new building of the Meilahti pharmacy, central kitchen and parking facility in Meilahti, Helsinki. The project has been commissioned by HUS Kiinteistöt Oy and will be implemented as a collaborative project management contract in the Meilahti hospital area. The official signing of the contract will take place no earlier than the end of the appeal period. The contractor's estimate of the target budget for the project management contract aiming for the implementation phase is approximately EUR 170 million. The target budget will be specified during the development phase.
     
The total floor area of the new construction complex is approximately 44,000 gross m2, of which the parking area accounts for around 19,000 gross m2. The project includes excavation and earthworks, as well as the construction of a 11-storey new building with its surrounding outdoor area. Five of the floors are above ground and six underground.

The strategic goal of both YIT and HUS Kiinteistöt Oy is to move towards low carbon. During the development phase, the objectives of the HUS environmental programme will be taken into account as far as possible.

“We are currently building the Oak Hospital in Meilahti as a collaborative project management contract, and it’s great to be part of developing a new property for HUS using the same model. A challenge for the project is its location within the hospital area, among operational hospitals – that is, between the New Children’s Hospital, the Park Hospital, the Service Centre and the A wing of the Women’s Hospital. Underground works make it extremely demanding, but our team has experience of both demanding excavation work and hospital projects in challenging environments,” says Matti Sarikkola, Vice President of the Business Premises Construction unit at YIT.

The development phase will commence immediately after the contract is signed in early 2024, with the goal of transitioning to the implementation phase of the project, which will last around four and a half years, in autumn 2024.

Further information:
YIT’s Corporate communications, tel. +358 44 743 7536, [email protected]

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

YIT is the largest Finnish and a significant North European development and construction company. We develop and build sustainable living environments: functional homes, future-proof public and commercial buildings, infrastructure for smooth mobility, and renewable energy solutions to benefit the climate. We employ around 5,000 professionals in eight countries: Finland, Sweden, Estonia, Latvia, Lithuania, the Czech Republic, Slovakia and Poland. Our revenue in 2022 was EUR 2.4 billion. YIT Corporation's share is listed on Nasdaq Helsinki. Read more: www.yitgroup.com