Global law firm Dentons advised YIT, a Finnish construction and development company, on the establishment of a joint venture with Czech investor group RSJ Investments based on a co-partnership model, with YIT and RSJ Investments each owning 50 percent.

The joint venture’s goal is to develop a significant residential project in the Židenice area of Brno, the Czech Republic’s second-largest city.

Dentons advised on the creation of the joint venture as well as on the acquisition of a land plot, on which a residential complex will be constructed in several stages. The project will feature more than 750 apartments as well as several commercial spaces. The construction should begin in June 2025 and the completion of the entire project is expected in mid-2031. The estimated market value of the apartments is over €200 million.

Partner Markéta Tvrdá led the team, which was composed of Associate Jan Sedlák and Junior Associate Kateřina Bugnerová.

Markéta Tvrdá commented: “Our team advised YIT on its previous partnerships with RSJ for several residential development projects in Prague, including Lappi Tornio and Vesi Hostivař. We are pleased to have assisted YIT in expanding beyond Prague to seize opportunities in residential and commercial real estate development in Brno and the region where the demand for quality housing is rapidly growing.”