Yit and One Family Office form Czech residential partnership

Finnish construction company Yit has formed a partnership with One Family Office in the Czech Republic to boost its residential growth in Central and Eastern Europe. 

YIT residential project in Finland

This joint venture, with each company owning 50%, aims to improve YIT's capital efficiency.
The parties have agreed not to disclose the value of the transaction. 
Their first project will be Lumo Braník in Prague 4, which will convert an old administrative building into about 150 apartments. Construction is planned to begin in 2026. 
The location offers excellent transport connections and comprehensive local amenities.
YIT will handle the development, construction, and sales, while One Family Office will provide financing. 
This partnership will focus on residential projects in Czechia, where YIT already has a strong presence.
Justyna Filipczak, EVP, Residential CEE at Yit, said: “The transaction is an important step in executing our strategy to strengthen the Residential CEE segment and enhance capital efficiency. Partnering with financially strong and experienced investors enables us to accelerate growth and scale up our opportunities.”