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YIT and Fidus Vuokratalot Oy, a company founded by Sirius Capital Oy, have signed an agreement on the construction of 13 rental housing properties in Finland. The agreements concern more than 700 apartments.

The final implementation contract has been signed for the first four residential development projects and it will be entered in the order book for the second quarter of the year.

In addition, preliminary contracts have been signed for the other projects and they will be entered in the order book when the project-specific agreements are signed.

“We are pleased to be involved in Sirius Capital expanding its real estate investment business into the residential segment,” says Marko Oinas, Interim Executive Vice President, Housing Finland & CEE at YIT.

The combined value of the agreements is approximately EUR 170 million. Construction will start gradually this year and next. The projects are scheduled to be completed in 2022 and 2023.

Source: YIT Corporation