This post was automatically translated into English
Real estate developer Eika has signed a management agreement for the Švitrigailos namai project. Eika will be responsible for the design, construction management, and sales of apartments.
Real estate developer Eika has signed a management agreement for the Švitrigailos namai project. Eika will be responsible for the design, construction management and sale of apartments. This is one of the first real estate transactions of this type in Lithuania.
Investments in the new project in Naujamiestis, on Švitrigailos Street, will amount to 5.5 million euros (19 million LTL). Two seven-story buildings will be built in Švitrigailos Namai, with almost 100 apartments designed. It is planned that the first building of Švitrigailos Namai will be completed by the end of this year.
“The management of the entire project is a somewhat new service in the Lithuanian real estate market. Until now, standard agreements have been made for general contracting, i.e. project construction management, which was sometimes supplemented by a design service. We have proposed a new way of cooperation, since some attractive plot owners want and can develop apartment building projects, but do not have experience in organizing large-scale construction work, coordinating design and simultaneously carrying out sales,” says Martynas Žibūda, Director of the Development Department at Eika.
“We chose the company “Eika” because of its many years of experience in the real estate market, without doubting their competence. By signing the contract, we secured more favorable bank financing conditions, because a reliable partner is also a guarantor of the project implementation,” says Kęstutis Žala, Chairman of the Board of the company “Skauduva”, which signed the contract.
About the Eika group of companies
Founded in 1992, the company “Eika” is one of the largest real estate development and construction groups in Lithuania. The group of companies consists of: UAB “Eika” – a leader in the real estate market, valued for its innovation, reliability and responsibility; UAB “Eikos statyba” – a construction company with extensive experience in the construction and renovation of administrative, public, commercial, industrial and residential buildings.
More information
Martynas Zibuda
Director of Development Department, UAB “Eika”
Tel.+370 5 249 6619
+370 5 249 6619
+370 5 249 6619
Fax: +370 5 2514 256
Email [email protected]
Email [email protected]