Finnish construction company YIT has secured two new projects from two different clients to develop housing units in the country.
The projects include the construction of a residential apartment building in Nummela, Vihti, as well as building five rows of terraced houses in Espoo.
YIT entered into an agreement with the Yrjö ja Hanna foundation for the residential apartment building, dubbed Kiinteistö Oy Vihdin Nestori.
This contract carries a value of €8m ($8.76m) and the project is funded by ARA.
YIT will enter this contract in its order bookings for the fourth quarter of this year.
The community, designed for older residents, will be a five-storey building with 43 rental flats that cover an area of 3,400m².
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Only renewable, eco-friendly power will be used on the building site.
Construction work is expected to begin this week and is anticipated to be completed in 2025.
Separately, YIT signed a contract with Länsi-Suomen Asunnot to build five rows of terraced houses in Espoo.
Located in the Finnsinmäki area, the Asunto Oy Espoon Finnsin August terraced residence project will include 24 housing units.
The estimated value of this contract is nearly €8m. This ARA-funded project covers around 1,8000².
YIT will include this contract in its order backlogs for the fourth quarter of this year.
The apartments will be heated by eco-friendly geothermal energy.
Construction is set to begin this month, and the project is expected to be completed by early 2025.
YIT senior vice-president Harri Isoviita said: “It’s great that we get to build a new complex of five rows of terraced houses for our customer and build geothermally heated homes in Espoo.
“We continue the development of the idyllic residential area, and we also have plans for the Asunto Oy Espoon Finnsin Gustav detached house complex as a self-developed project by YIT.”