Finnish construction company YIT has signed an agreement with XTX Markets (electronic market maker) to build the shell and core of a third data center in Kajaani, continuing a partnership that began in 2024 and underscoring Finland's growing status as a destination for large-scale data center investment.

A Third Contract in Kajaani

YIT will serve as the main contractor on the new facility, according to an investor news release published on June 17, 2026. The financial terms of the agreement have not been disclosed, with both parties agreeing to keep the contract value confidential. Construction is scheduled to begin in summer 2026.

The project marks the third consecutive data center that XTX Markets has commissioned YIT to build in Kajaani. YIT and XTX Markets first signed an agreement for the construction of a facility in the city in 2024, followed by a second data center project that began in 2025. The latest contract extends what has become a long-running construction relationship between the two companies in the same location.

Part of a Billion-Dollar Investment Program

The new building is part of a wider investment program announced by XTX Markets, which the company has said is aimed at securing future computing capacity.

XTX Markets has previously announced plans to invest more than USD 1.16 billion in developing a data center campus in Kajaani. The three facilities constructed or under construction by YIT form part of that broader campus development.

XTX Markets' decision to concentrate its data center infrastructure in Kajaani reflects a pattern seen across the Nordic region, where favorable climate conditions, stable power supply, and competitive land costs have attracted significant technology investment. The Kajaani projects, according to YIT, contribute to positioning the city as a key hub for digital infrastructure in Finland.

YIT Positions Itself as Finland's Leading Data Center Builder

Aleksi Laine, Executive Vice President of YIT's Infrastructure segment, said the company viewed the renewed contract as a reflection of trust built through its prior work with XTX Markets.

"We are pleased to continue our collaboration with XTX Markets and to begin construction of a third data center in Kajaani. This long-term partnership reflects strong trust in our capabilities, as well as excellent collaboration with the customer and our partners," Laine said in the statement.

Laine also used the announcement to highlight YIT's broader positioning in the data center construction market. He described the company as Finland's largest data center builder and said it possesses extensive experience in delivering facilities that require a high level of technical expertise.

"We continue to see significant growth potential in the data center market and are well positioned to support new customers in implementing their investments," he added.

Infrastructure Segment Drives Activity

The XTX Markets contract falls within YIT's Infrastructure segment, which handles large-scale construction projects including data centers, transportation infrastructure, and other technically demanding facilities.

The segment has been active in securing major contracts in the first half of 2026, with YIT also recently announcing the start of construction on the West Helsinki Light Rail, a project with a total value to YIT of approximately USD 71.96 million, and the commencement of an educational building at Tikkurila Competence Campus valued at USD 89.38 million to YIT.

YIT operates across seven countries and employs approximately 4,100 professionals. The company reported revenue of USD 2.09 billion in 2025 and has its shares listed on the Nasdaq Helsinki.

While data center construction represents one component of its broader construction portfolio, the company's repeated wins with XTX Markets in Kajaani indicate it has established a specialist reputation in the sector.

Kajaani's Emergence as a Data Center Location

The concentration of XTX Markets' data center investments in Kajaani, a city in the Kainuu region of central Finland, reflects a trend of major technology and financial infrastructure operators selecting northern locations for large-scale computing facilities. YIT's statement noted that the XTX Markets projects strengthen Finland's attractiveness as a location for this type of investment.

XTX Markets is a quantitative-driven financial markets firm, and its decision to build what it describes as a state-of-the-art campus in Kajaani represents one of the more significant private technology infrastructure investments in Finland in recent years.

The company's stated goal of investing more than USD 1.16 billion in the campus places it among the larger single-company data center commitments in the Nordic region.

With the construction of the third facility set to begin this summer, YIT's workforce in Kajaani will continue working on XTX Markets infrastructure at a site that has been under active development since at least 2024.

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