Bigbank provides EUR 7 million in financing for the development of a real estate project in Pašilaičiai

Real estate project management company EIKA Development has reached an agreement with Bigbank on financing of EUR 7 million for the development of the residential real estate project “Medeinos namai” in Vilnius, according to a press release from Bigbank.

In total, this real estate project in the Pašilaičiai microdistrict in Vilnius will consist of 138 dwellings and 11 commercial premises. The usable area will reach 8533 sq. m. About 60 percent of the plot will be occupied by a common area. It is expected that housing prices will start from 2,730 Eur per sq. m.

“The total investment amount will reach 20 million euros, and the project will be developed in two stages. It will stand out with its architectural solutions and location – this is one of the greenest places in Pašilaičiai. We will try to keep it that way by adding new greenery. In the yard, beds will be installed with various goodies planted – the settlers will be able to enjoy their fruits. So this will be an exceptional project in this microdistrict,” notes Tomas Žiaugra, Director of the Development Department of EIKA Development.

In the first stage of the project, two five-story housing blocks of A++ energy class will be built. They have a total of 79 apartments and 11 commercial premises. At this stage, customers will be able to choose from 1-3-room apartments with an area of ​​29-69 sq. meters, and businesses will be able to choose from premises with an area of ​​27-51 sq. meters. “This is our second project financed by Bigbank. After successful cooperation in implementing our other housing project in Vilnius, we decided to continue our partnership with this bank. We value Bigbank’s approach to business clients, their speed and flexibility. These features are particularly important to us, so we are confident that together we will be able to create exclusive houses, the main emphasis of which is houses with pitched roofs and apartments on the upper floors, the ceilings of which reach as high as 5 meters. We believe that customers will see these advantages and uniqueness,” T. Žiaugra argues for the choice of the financier.

According to Deividas Žukas, Head of the Business Loans Department at Bigbank, the choice to cooperate with EIKA Development was made due to the stability of the company’s operations: “We have financed other projects of this company, they are reliable partners. The new project looks good and offers something that has not been seen in this part of Vilnius before.”

Construction of the project began in September 2024. The completion of the first phase of construction is expected in the first quarter of 2026, and the entire project is planned to be completed in the second quarter of 2027.

Bigbank, which has been operating for more than 30 years, is a commercial bank owned by Estonian capital, operating in 9 countries, with 151 thousand active clients and more than 500 employees. The bank in Lithuania provides housing, business, consumer loans, deposits and other services to individuals and legal entities.

EIKA Development is a subsidiary of the EIKA Group, which has taken over all the experience in the real estate market. The company provides real estate services from land acquisition to handover of keys, building maintenance and administration, and creates a new and sustainable quality of life and work.