Despite the unfavourable development of the residential real estate market and the cooling of demand, YIT has managed to maintain its results comparable to the previous years. In 2023, the year in which it celebrated 15 years of operations in the Czech Republic, it sold a total of 198 apartments and its turnover reached over CZK 2 billion. It also managed to complete three projects. Right at the beginning of the new year, it launched a new project, Sija Kamýk. It also plans to launch the Toivo Roztyly project, the Tampere stage in the Suomi Hloubětín complex and the third stage of Ranta Barrandov this year. At the same time, the company is preparing its first regional development, specifically in Kladno. The projects that YIT plans to put on the market this year total 536 new units (including the already launched Sija Kamýk). As a leader in modular construction in the country, the developer has also expanded the use of prefabricated elements in its projects.
“Despite the significant cooling and the challenging market situation, we assess the last year as a success from our point of view. We managed to meet the set goals, i.e. first of all to sell out both Kemi and Ranua phases of the Lappi Hloubětín project, which we completed last year. We are also positive about sales in the completed Vesi Hostivař complex. Of course, we have the appetite to start further new construction, but unfortunately we are hampered by lengthy permitting processes,” says YIT Stavo CEO Marek Lokaj, adding a prediction for 2024. The market will recover and sales will increase. Demand will gradually gain strength thanks to the improvement in the mortgage market, especially in view of the expected reduction in interest rates. Inflation will also have an impact.”
Within the Suomi Hloubětín complex in Prague 9, YIT plans to launch its tenth phase this year, where 68 apartments will be built in the 13-storey Tampere building. It will also expand its Ranta Barrandov project in Prague 5, which will be enriched by a third phase with nearly 60 units. In two phases, it will develop the Toivo Roztyly project in Prague 11, where it will build over 200 apartments in total. YIT is also preparing its first project outside of Prague in Kladno.
YIT’s project balance for 2023 – three approvals and two rough constructions .
In 2023, YIT approved three projects. One of them is the Vesi Hostivař complex with 208 apartment-type units. There are a number of ecological features, including photovoltaic panels. Less than 80 units are currently available for purchase. At the same time, the developer has completed the Kemi and Ranua phases of the Lappi Hloubětín mixed-use project. A total of 209 apartments have been built here. Work is continuing in the area, YIT is building the next stage of Tornio, which it brought to the stage of rough construction last year and whose approval is expected to take place this March. The 13-storey solitary building will feature 79 units with layouts ranging from 1-bedroom to 5-bedroom and sizes from 31 to 123 sq m. It will include a carriage/collection room and a room where a muddy bike or dog can be cleaned.
The Happi Milánská project in Prague 15, which YIT is implementing with numerous prefabricated structural elements and using so-called green concrete made from recycled aggregates, has reached the milestone of rough construction. A total of 72 flats are being built here, ranging from 1 bedroom to 4 bedrooms and sizes from 27 to 99 m2. New residents can enjoy, for example, the planned community terrace. Three commercial spaces will then be created on the ground floor, one of them with a terrace. It is expected to be completed in June this year.
With the start of the new year, the new project.
At the beginning of the year, YIT launched the sale and construction of the new Sija Kamýk apartment building in Prague 12, which offers a total of 122 units with layouts from 1 + kk to 4 + kk and sizes from 30 to 116 m2. As part of the environmentally friendly approach, the new building will include rainwater retention tanks, LED lights and solar panels on the roof. The project will also include water-saving fixtures to reduce water consumption, an outdoor fast-charging station for electric vehicles, as well as preparations for a self-service delivery booth.
Prefabrication as the way forward for modern construction, including for wooden buildings.
YIT is a pioneer of prefabrication technology on the Czech market and continues to focus intensively on its implementation. It follows the example of its parent company in Finland, which has a wealth of experience and know-how in the use of modules. So far, it has installed 316 prefabricated bathrooms in its Czech projects. “Moving the production of building components to a comfortable factory environment, where working conditions are stable and safe, speeds up and improves the quality of construction. Only assembly takes place on the construction site. This means that fewer workers are needed, which saves human resources as well as the overall cost of implementation. At the same time, we reduce noise and traffic on site, which will definitely be appreciated by the surrounding residents,” calculates the benefits of YIT Stavo’s CEO and adds about the use of prefabrication: “We are currently completing our first project, which went a little further than just incorporating modular bathrooms. The Happi Milanská apartment building is already mostly prefabricated. Using this innovative technology, we are also building all the balcony panels, ceiling filigree, wall panels, stair arms and lift shafts here.”
In the Czech Republic, the developer also wants to push for a greater diversification of building materials – as prefabrication is also ideal for construction with solid CLT panels. He has therefore joined the specialist Platform for Sustainable Timber Construction, which aims to increase the spread of environmentally friendly timber buildings. “We consider the forthcoming change in the standard that will allow the construction of environmentally friendly timber buildings with a height of 22.5 metres to be a great success of our joint efforts with other entities. For multi-storey buildings, it is now necessary to choose the so-called engineering approach, which depends on the addition of other technologies, which is not economically advantageous for the investor,” comments Marek Lokaj.
Ecology is an important pillar of YIT.
YIT has a strong commitment to sustainability and environmental protection – its targets for reducing greenhouse gas emissions have even been validated by the Science Based Targets initiative, one of the few domestic developers to do so. As part of its ESG strategy, YIT, through SBTi, is committed to reducing emissions in its own operations by 90% by 2030 compared to a 2019 baseline year, as well as reducing absolute emissions in the so-called Value Chain by 30% compared to a 2019 baseline year.
The developer is therefore implementing environmentally sustainable solutions during the construction as well as the subsequent operation of the buildings. “In addition to photovoltaic power plants, we also incorporate heat pumps, underfloor heating, LED lighting, rainwater harvesting tanks and air recuperation into our projects. All of this contributes both to a healthier home and to savings in monthly costs,” says YIT Stavo Sales Director Dana Bartonova, adding, “Over the past two years, there has been a clear increase in the percentage of people who are actively interested in eco-friendly, energy-saving living and who ask us about various options. For example, we offer a service where we help clients to exchange their old housing for a new and more efficient one.”
