Despite negative economic factors, YIT’s turnover exceeded CZK 2 billion last year and they sold just over 200 apartments.
Last year, YIT implemented the so-called prefabrication technology to a greater extent, new for structural elements. They are also intensively devoted to recycled materials and, according to the multinational strategy, continue to fulfil the set ecological goals. “Despite the turbulent development of the real estate market in 2022, we remain optimistic and expect its recovery this year. With the reduction of inflation, there should be a decrease in mortgage rates, which will contribute to the recovery of demand,” says the general director of YIT Stavo, Marek Lokaj. He adds: “Regarding new trends, we follow the growing interest in energy-saving housing and modern technologies, such as photovoltaic panels, heat recovery and LED lighting. They are therefore already part of our new projects.”
YIT’s balance in 2022
The developer’s projects of Parvi Cibulka with 150 loft-type apartments and Koti Libeň with 140 units underwent final building approval last years. Two projects reached the rough construction stage – the Vesi Hostivař complex with 208 apartment-type units and the Kemi and Ranua stages in the Lappi Hloubětín complex. As for new projects, in 2022, YIT commenced construction and sale of a total of 119 apartments in two projects – Rivi Bachova with 47 apartments and Happi Milánská with 72 units.
YIT is planning development outside of Prague
“We were unable to implement further development last year because the processes of obtaining a building permit were prolonged. However, we believe that we will manage to launch it this year. This applies to the two remaining stages in the Lappi Hloubětín complex and projects in Prague 5, 11 and 12 with a total of more than 300 apartments,” Marek Lokaj describes and adds: “As part of our strategy, we also focus on regional expansion. We are therefore preparing our first development outside of Prague, in Kladno, where we plan to build in stages approximately 800 apartments.”
Expanding the use of prefabrication
To speed up and improve the quality of construction, YIT implements innovative prefabrication technology. “In some of our projects, we are already installing modular bathrooms that are manufactured in modern factories and brought to the construction site fully equipped,” explains Marek Lokaj. The developer has already installed 300 of such bathrooms. However, the use of prefabricated elements is now expanding further. Other prefabricated structural elements are also installed in the Happi Milánská apartment building.
Increased emphasis on ecology
YIT tries to find new materials with minimal impact on the environment. They, for instance, introduced concrete construction from recycled aggregate, which will reduce CO2 emissions by almost 3% in the Vesi Hostivař complex. As part of the ESG strategy, YIT has updated their standards. “We already pay attention to the use of renewable resources and energy-saving technology when designing all our projects. From the very beginning, each of them has a so-called ESG card, where we determine the parameters and technologies suitable for installation in a particular project,” says the general director of YIT Stavo.