Lemminkäinen starts construction of the 'Tapiola' residential project in St. Petersburg
LEMMINKÄINEN CORPORATION INVESTOR NEWS 19 JUNE 2013 AT 9 AM
LEMMINKÄINEN STARTS CONSTRUCTION OF THE 'TAPIOLA' RESIDENTIAL PROJECT IN ST. PETERSBURG
Lemminkäinen has obtained a building permit for the residential building planned for the plot in the St. Petersburg city centre, which was purchased by Lemminkäinen in autumn 2012. Lemminkäinen will begin the construction of the EUR 200 million project immediately. The new site is located by the Obvodny canal close to Moskovsky Prospekt, and it will comprise 757 apartments. In the first phase, Lemminkäinen will build 339 apartments that are scheduled for completion by the end of 2014. The entire project should be completed by the end of 2015.
Tapiola is Lemminkäinen's residential development and construction project, in which Lemminkäinen is responsible for the design, construction and sales. This project comprises a total apartment floor area of approximately 52,000 square metres. In addition, the plot will accommodate approximately 4,000 square metres of office and commercial premises, which will be sold separately, as well as 360 parking spaces. The project also includes a kindergarten.
Henrik Eklund, Executive Vice President, International Operations
Tel. +358 02071 53313
Juha Höyhtyä, Senior Vice President
International Operations business segment
Tel. +358 2071 53620
NASDAQ OMX Helsinki
Lemminkäinen Group operates in all areas of the construction sector. The Group's business segments are building construction, infrastructure construction, technical building services and international operations. Net sales in 2012 were about EUR 2.3 billion, of which international operations accounted for roughly 40 per cent. The Group employs an average of 8,200 people. Lemminkäinen Corporation's share is quoted on NASDAQ OMX Nordic Exchange Helsinki. www.lemminkainen.com