YIT has commenced building Keilaniemenranta underground parking facility in Keilaniemi, Finland.

The total contract value of this turnkey project for YIT is approximately $105.10m.

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This contract will be recorded by the company in the second quarter of this year.

The construction will begin in August this year, with work expected to be finished in 2026.

YIT’s Infrastructure segment will execute the project.

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YIT Infrastructure segment EVP Pasi Tolppanen said: “The implementation of the Keilaniemenranta underground rock parking facility is at the core of both Infrastructure segment’s competence and strategy.

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“In this technically demanding project, we will be able to use our top expertise in infrastructure construction in an evolving urban environment.”

Excavated in rock, the facility will offer around 1,600 parking spaces, of which 50% will have electric vehicle charging outlets.

With two floors, the underground parking facility will feature a gross floor area of approximately 62,000m2.

It will also include a civil defence shelter for around 3,300 people.

This is the first project of Keilaniemen Kiinteistökehitys Strike Ky.

Keilaniemen Kiinteistökehitys Strike Ky is a joint venture between HGR Property Partners, Ilmarinen Mutual Pension Insurance Company, and YIT.

The Keilaniemi underground parking facility forms a part of Keilaniemenranta’s broader development.

Earlier, YIT had undertaken renovation projects of the Accountor Tower and the Keilalampi building and built the central square and its pavilions.

Keilaniemi area will also see construction of Jokeri Light Rail’s main station.

YIT has presence in nine countries, namely including Finland, Sweden, Norway, Estonia, Latvia, Lithuania, the Czech Republic, Slovakia and Poland. It recorded a revenue of €2.7bn in 2021.
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Image: The parking facility will feature two floors. Credit: 정수 이 from Pixabay