In March, the EIKA group of companies acquired a land plot with buildings in the Naujamiestis area of Vilnius from UAB “Kartonas” under the right of ownership. The plot, with an area of 1.2574 ha, is a former industrial area bordering Agononų, Šaltinių and Mindaugo streets. The planned investments in the project are approximately 32 million EUR.
According to Martynas Žibūda, Director of EIKA Development, this is the second industrial area in a row that the EIKA group of companies is developing. “Another improved industrial area will be opened to the city and its residents. Planning not individual buildings, but the entire block provides broader opportunities to use all of EIKA’s good experience, forming a modern and high-quality environment, creating a safe and cozy neighborhood,” says M. Žibūda.
By the beginning of this summer, an architect will be selected and a team of designers will be assembled for the development of the project. The project plans to build more than 350 apartments – about 20,000 sq. m. of mostly residential area with commercial premises on the first floors of the buildings. The project will most likely be developed in three stages, which will become clear when the final project concept is approved. Preliminary start of construction – 2018. Q1. In part, preparatory work on the construction of the territory may begin this year. The project is expected to be completed by 2022.
More about the project here.
About the Eika group of companies
Founded in 1992, EIKA is one of the largest real estate development and construction groups in Lithuania, successfully developing residential, commercial, public and other purpose building projects, creating a new quality of life and work. The company has already built almost 4,000 apartments and 320 thousand square meters of buildings. EIKA has been awarded many times as the best real estate developer in Lithuania, and the company’s projects “Santariškių namai” and “Eika namai in Pilaitė” have also become the best in Lithuania. New quarters are currently being developed in Pilaitė, Žirmūnai, Bajorai, Jeruzalė, this year it is planned to start construction in the real estate complex on Gedimino pr.