The project is set to be completed in October next year. Credit: YIT/Cision.

Finnish construction company YIT has signed a contract valued at approximately €9m ($9.76m) with TA-Asumisoikeus for a new domestic apartment building project in Tampere.

This development, funded by the Housing Finance and Development Centre of Finland (ARA), is part of the wider Niemenranta regional project.

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The project, named Asumisoikeus Suvialankaari 1, is set to enhance the Niemenranta area with an eight-storey building comprising 37 apartments across approximately 2,800m² of floor space.

Earthworks for the new development have already begun, with an anticipated completion date in October 2025.

YIT Housing and Business Premises vice-president Sami Viitanen said: “YIT and TA-Asumisoikeus have had good and long-term cooperation in several projects around Finland. It is great that we can continue our cooperation and get to implement the site for our customer also in the Niemenranta area.”

This contract will be reflected in YIT’s order book for the last quarter of the year.

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This project follows YIT’s successful delivery of the Federleynkatu 56 right-of-occupancy house for TA in Niemenranta in 2017.

Earlier to this project, YIT secured contracts for three apartment building projects from TA-Asumisoikeus and TA-Yhtymä last month, amounting to €28m. These projects, located in Helsinki, Joensuu, and Tampere, are also expected to be completed in 2025.

YIT claims to have a commitment to sustainability, focusing on reducing energy consumption, waste, and greenhouse gas emissions. The company’s material choices are guided by these principles.  

The company has pledged to the Science Based Targets initiative to limit global warming to 1.5°C in line with the Paris Agreement, with YIT’s emission reduction targets validated in June 2023.