YIT has established a joint venture with the Czech-Slovak ONE FAMILY OFFICE in the Czech Republic. The aim of the cooperation is to strengthen the growth of the Housing CEE segment. The joint venture supports YIT’s strategic focus on improving capital efficiency. YIT and ONE FAMILY OFFICE each own 50% of the newly established joint venture. The parties have agreed not to disclose the value of the transaction.
The joint venture’s first project is Lumo Braník, a residential development in Prague’s 4th district. The project will see the construction of a modern residential area with approximately 150 apartments on the site of the former Kuta Centrum administrative building. Construction is estimated to begin in 2026. The location combines a peaceful environment with excellent transport connections and comprehensive services, making it an attractive option for sustainable urban living.
The cooperation focuses on residential projects in the Czech Republic, where YIT has strong experience and a well-known brand. YIT is responsible for the development, construction, and sales of the projects, while ONE FAMILY OFFICE participates in their financing.