This post was automatically translated into English
Eika has started construction of the “SBA House of Ideas” in Klaipėda.
“Eika” has started construction of the “SBA House of Ideas” in Klaipėda.
Real estate developer Eika has begun construction of a 5,000 sq m furniture showroom SBA Ideas for Homes in Klaipėda.
The showroom, which will open its doors at the end of this year, will be the largest specialized interior and finishing materials shopping center in the port city and the second largest “SBA idėjos namams” showroom in Lithuania. The sales area of ”SBA idėjos namams” will be 2,700 sq. meters, the remaining area is intended to be leased to interior and finishing materials trading companies.
About 85 percent of the center’s premises have already been leased.
According to John Lightfoot, CEO of SBA Idejos Namams, this center alone will increase SBA Idejos Namams’ total sales by 10-15 percent. In Klaipėda, they are planned to be increased by a third. “Klaipėda’s housing market is the most active after Vilnius and its growth is becoming a serious catalyst for businesses accompanying construction: plumbing, finishing materials, interior elements and furniture sales,” he says.
According to Eika, the housing market in Klaipėda will increase by 10 percent this year. Martynas Žibūda, head of Eika’s commercial premises department, says that the need for similar centers will only grow.
The area of the new shopping center will constitute 20 percent of the area of the specialized shopping center market in Klaipėda. According to the data of the “Eika” market research department, the area of specialized interior and finishing materials sales in Klaipėda currently amounts to about 15.6 thousand sq. meters. The average rental price of this type of commercial premises in Klaipėda ranges from 20 to 40 LTL/sq.m.
According to “Eika” data, the current size of the retail space market in Klaipėda is 130 thousand sq. m. of usable area. This year it will be replenished by another 30 thousand sq. m. and will reach 160 thousand sq. m. of area.
The Lithuanian capital company “Eika”, founded in 1992, currently manages projects worth more than 500 million litas.