YIT, Czechia Family Office Form JV for Residential Projects

06:57 AM EST, 12/15/2025 (MT Newswires) -- Finnish builder YIT (YIT.HE) formed a 50/50 joint venture with Czechia-based One Family Office, focusing on residential development projects. Under the venture, YIT will be responsible for project development, construction and sales, while the family office will contribute to project financing, according to a Monday release. The venture is anticipated to boost the company's Residential CEE segment. The partnership's first project will be Lumo Braník, where the companies will transform the former Kuta Centrum administrative block into a residential area with 150 apartments. Construction is expected to commence in 2026.