YIT receives permits for putting into operation the first...

YIT receives permits for putting into operation the first logistic center in Gorelovo industrial park

YIT has received from the local authorities of Leningrad Region (Oblast) the official permits for putting into operation of the “Gorigo logistic center” in Gorelovo industrial park near to Pulkovo, the international airport of St. Petersburg. By the end of 2008 YIT will sell the logistic center to “GORIGO” company, owned by Evli Property Investment's real estate fund. It has been agreed by YIT and Evli that the total amount of the transaction of the logistic center and the office center at Primorsky prospect, St. Petersburg, will be approximately EUR 100 million.

“Gorigo logistic center” is occupying about 19 hectares of land. The center consists of two large logistics buildings with total areas of about 91,000 sq.m. Office space is about 5,000 sq.m. “Gorigo Logistic center” is one of the largest and highest class logistic centers in the South-Western region of Russia.

Gorelovo Industrial park is located on a 96 hectares land plot. YIT has purchased the land plot in the autumn 2006. In the beginning of 2007 YIT has started to develop the territory into a modern industrial park. YIT has under construction also a new meat products plant and logistics centre for Atria in Gorelovo.