YIT has signed agreements to establish three joint ventures with the Czech investment group RSJ Investments in Lithuania, Latvia, and Slovakia. YIT will sell plots or projects under construction to the joint ventures under the same agreement. The deals cover the fifth stage of the Naujasis Skansenas project in Lithuania, the second stage of the Marpagalmi project in Latvia, and the Mlynarka project in Slovakia.

The joint ventures will continue to develop all of these. YIT and RSJ Investments each own 50 per cent of the joint ventures that have now been established. The parties have agreed not to disclose the value of the transactions.

The Naujasis Skansenas area is located on Linkmenu street in Vilnius, Lithuania, in a modern city centre area on the northern bank of the river Neris. There are plenty of services and sports facilities in the vicinity, as well as good transport connections to the Old Town of Vilnius and other places. YIT started to develop the Naujasis Skansenas area in 2019.

The fifth apartment block in the Skansen area is already under construction and it will be finished in early 2024. Marpagalmi 2 is the second phase of Marpagalmi area project in Agenskalns, one of the greenest and most sought-after neighbourhoods in Riga, Latvia. The construction of second phase began in July 2023 and is scheduled for completion in the first quarter of 2025.

Courtyards played an important role in the design of the block, and the construction will emphasise and preserve unique urban features and a small-town feel. The Mlynarka project is based on a plot of land under development in Bratislava, Slovakia. A zoning change is planned for the plot.

The aim is to develop housing projects, offices and other civic amenities and services in the area. The area is located in the rapidly developing Ru?inov district, close to the city centre. The project will proceed in phases, with construction of the first phase planned to begin in the last quarter of 2025.

The project is projected to take around 10 years to complete.