For the first time, YIT is expanding its development activities outside Prague and is preparing its first residential project in Brno. A growing demand for quality housing in the city is offering interesting potential for construction.
Brno is becoming the technological and innovation centre of the Czech Republic. The growth of the economy and the increasing number of jobs, caused, among other things, by the fact that more and more domestic and international software and IT companies are based here, creates an enormous demand for housing. Mostly young people move to Brno for work, which supports its demographic growth. Nine public and private universities with many faculties and important research institutions also contribute to the city's dynamism. The number of workers in science and research is systematically increasing here.
YIT acquired more than five hectares of land at Šedova Street in the Židenice district through a deal worth hundreds of millions of Czech crowns. In cooperation with the financial group RSJ, the developer plans to build a residential complex here, which in several stages will offer over 750 housing units as well as several commercial spaces. The project with a valid building permit will ensure a quick start to construction, which should begin in June 2025. Completion of the entire project should take place in mid-2031.
"By entering the Brno market, we are continuing our long-term strategy, within the framework of which we want to devote more attention not only to construction in Prague but also in the regions in the coming years. We consider the Moravian metropolis to be a city with enormous potential for residential and commercial development," says Marek Lokaj, CEO at YIT Stavo, adding: "For the upcoming project, we are simultaneously creating a new team based in Brno, which will include experts familiar with the specifics of the local market."
