Finland’s YIT continues major development in Russia

12 June 2013

YIT has begun construction of the second apartment building in its Rifei regional development project in Verkhnaya Pyshma, near Yekaterinburg, Russia.

The first building was completed last year.

Rifei is one of YIT’s biggest residential projects in Russia. The 14ha plot will include 19 apartment buildings with more than 2,000 apartments.

The development will feature energy-saving technology such as a ground-source heat pump and solar panels.

YIT Uralstoi, a subsidiary of YIT Corporation, is currently working on four development projects in Yekaterinburg.

The company’s net sales amounted to around €4.7bn in 2012.

Source: Wall Street Journal

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