The Masonite Flexible Building (MFB) system is a complete timber building system for commercial and residential multi-storey houses. The system is subdivided into two market variants; XL and Light. The XL version is for tall and large buildings with long floor spans while the Light version is adapted for smaller buildings with lower loads. Though differing in technical performance, the functional criteria arc the same for both variants. The MFB system uses prefabricated wall, floor and roof elements which are delivered in flat packages and erected on the construction site. The MFB system might be classified as a panel construction, where the load-carrying structure consists of composite light-weight timber I-beams mechanically integrated with a composite laminated wood panel called PlyBoard™. The I-beams and the panel form a strong and rigid carcass for wall and floor elements, making the system well suited for high rise construction. A key feature of the MFB system is the connection technique which enables swift erection of the system units on site. The plyboard panels are provided with a continuous slot along the periphery. The slot is used as a general connection interface for the joining of the wall elements. The floor elements are suspended and hooked onto the bearing walls using sheet steel hangers, allowing swift assembling of the floor deck and enabling direct vertical wall-to-wall load transfer parallel to grain. The paper presents the construction principles, system components and units, erection technique and functional and architectural aspects of the Masonite Building System.