YIT Corporation has formed a 50/50 joint venture with ONE FAMILY OFFICE in Czechia to accelerate growth in the Residential CEE market, commencing with the Lumo Braník project in Prague.

Target Information

YIT Corporation has established a joint venture in Czechia with ONE FAMILY OFFICE, a Czech-Slovak investment entity, to enhance its growth in the Residential Central and Eastern Europe (CEE) sector. This collaboration aligns with YIT's strategic objective of improving capital efficiency within its operations. Both parties hold an equal stake of 50% in the venture, although transaction specifics regarding financial details have not been disclosed.

The inaugural project under this joint venture will be Lumo Braník, a residential development in Prague 4 that aims to convert the obsolete Kuta Centrum administrative block into a vibrant residential community featuring approximately 150 apartments. Construction is projected to commence in 2026, with the site’s strategic location offering peaceful surroundings, excellent transport links, and comprehensive local amenities, making it a desirable option for sustainable urban living.

Industry Overview in Czechia

The Czechia residential real estate sector has been experiencing steady growth, driven by increasing urbanization and demand for modern living spaces. As a member of the European Union, Czechia benefits fr