From 1 January 2024, real estate (RT) management services will be provided by UAB Eika development in the Eika group. The range of services of this company will include real estate project development management from vision and idea, land acquisition, design, mediation to construction, technical maintenance and after-sales service management. UAB Eika becomes the controlling company of the group and will provide financial, IT, sustainability and innovation, marketing and communication, personnel management and legal services.
According to Domas Dargis, CEO of Eika, this is a natural step towards introducing a clear business management structure. “Currently, the group already has 6 activities – real estate development, construction services, accommodation services, technology development, investment fund management and infrastructure development projects. All of the aforementioned areas of activity already operate in separate companies, and with this step, by separating the real estate management activity, we are completing the creation of the group’s corporate structure,” says D. Dargis.
Eika development is taking over the group’s substantial 30-year experience in real estate management. To ensure smooth continuity of operations, Martynas Žibūda, currently the Deputy General Director of Eika, has been appointed to lead the company. Together with him, the new company will be staffed by about 70 top-level specialists with many years of experience in real estate project management.
“In terms of the size of our team and the scope of our activities, we are one of the largest real estate project management companies in the Baltic States,” says M. Žibūda. At the beginning of 2024, the company will manage 15 objects in the project preparation stage, 10 objects in the construction stage, and 18 objects in the building operation stage.
According to M. Žibūda, we feel mature for larger, national-level projects, this structural change creates an opportunity to provide real estate management services to all market participants, not just the companies of the Eika group. In the future, expansion of activities abroad is planned.