The fund “EIKA Residential Fund” managed by UAB “Eika Asset Management” is starting to develop a residential project at Skroblų g. 12 and 14. The project will be developed in two stages, during which about 260 apartments will be built; the planned investment amount is 20.7 million euros..
The construction of the first stage is scheduled to begin in August 2020, and both stages are planned to be completed in the second quarter of 2023. Skroblų Street is located in the southwestern part of Vilnius and borders Naugarduko, Žemaitė and Klevų Streets, which provide convenient access to both the city center and nearby districts of Vilnius.
“We started fund management activities to provide investors with the opportunity to earn developer returns, and we are successfully keeping this promise. We hope that this project on Skroblų g. will be another step in creating a successful history of our fund activities,” says Viktorija Orkinė, director of UAB Eika Asset Management.
This is the second project of the EIKA Residential Fund, which is intended for the development of residential real estate objects, for which funds raised from external investors will be used. The first project – “Antakalnio panorama”, located on Smėlio St., Antakalnis, is currently being completed and is in the process of being handed over to the state commission.
EIKA was appointed as the project manager with the approval of investors. According to EIKA Development Director Martynas Žibūda, this is another example of territory conversion that will contribute to the renewal of the city and the change of its urban face. “We will turn the former industrial area into an attractive place to live, while believing that this project will become the beginning of the renewal of the entire microdistrict,” M. Žibūda assesses the potential of the future project.
During the first stage, two houses will be built, in which 122 apartments are designed. Both houses will have two buildings of different heights – 5-6 and 6-7 floors, in which future residents will be able to choose apartments from 25 sq. m to 70 sq. m in size, depending on their needs. The project architect is Vytenis Gerliakas, project manager of UAB “Eventus Pro”.
Residents will be able to park their cars in underground or above-ground parking lots, which provide a total of 106 parking spaces. In the inner courtyard of the project, it is planned to install children’s playgrounds, active activity spaces for teenagers, and recreation areas for older people.