EIKA Residential Fund, a fund managed by Eika Asset Management (EAM), an investment management company belonging to the EIKA group of companies, together with its partners, is starting to develop a project in Antakalnis, Vilnius. This is the first project to be developed by a fund managed by Eika Asset Management.
The development of the project “Antakalnio Panorama” begins on Smėlio Street includes a 7-story building with 58 apartments and an underground parking lot for 52 cars. Construction and apartment sales are planned to begin by the end of this summer, and buyers will be able to move into the first homes by the end of 2019.
““EAM’s activities include establishing funds that provide investors with the opportunity to contribute to the sustainable development of Vilnius and other cities by creating sustainable and long-term value residential and commercial real estate projects. This project will not only organically fit into the urban landscape of old Antakalnis, enliven it, but also, due to its uniqueness and prestigious location in the city, will ensure attractive returns for investors,” says Andrius Uždavinys, fund manager of EIKA Residential Fund.
The development of the project will also improve the city’s infrastructure: an additional one-way lane with short-term parking spaces will be installed on Antakalnio Street, where parents will be able to safely drop off their children after bringing them to school in the morning; additional shared parking spaces will be installed on Smėlio Street for the convenience of residents of neighboring houses, and the project will feature a well-maintained recreational space between the new building and Antakalnio Street..
The total investment in the project amounts to EUR 6.5 million, the project is being developed together with partners UAB “Julivera”. The investors have agreed to entrust construction management and apartment sales to UAB “Eika”.
The rules of the closed-end real estate investment fund “EIKA Residential Fund” established by EAM for informed investors were approved by the Supervisory Service of the Bank of Lithuania in March 2017..
About the project “Antakalnis Panorama” – here.
About EAM – here.