The Trigoni project in the Pasila high-rise area will unlikely be implemented as planned. YIT, the
In 2019, YIT signed a contract with the
"It is sad that we will have to give up the Trigoni project, although we put considerable effort into it. Based on our calculations, it has become evident that the implementation of the Trigoni project is not economically viable. We have tried to develop the plans further in good cooperation with the city. However, based on the originally ambitious plans, further development also has its limitations. The small plot and the triangular high-rise buildings proved to be a particularly challenging combination. Also, the strong increase in building costs and the financial consequences of COVID-19 pandemic on the property market, demand among tenants and the views of investors influenced our final decision to start negotiations to withdraw from the project," says
Related to uncertainties in the Trigoni project, YIT will write down project's planning costs of
For almost 15 years, YIT has been strongly involved in the development and construction of the renewed Pasila district in
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YIT Corporation
Vice President, Investor Relations
Distribution: Nasdaq
YIT is the largest Finnish and a significant North European development and construction company. With a strong customer focus and clear mission to create better living environments, we develop and build functional homes for sustainable living, future-proof public and commercial buildings and infrastructure for smoother flow of people, businesses and society. We employ 7,400 professionals in ten countries:
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