PL

Business centre rises from bakery

Office & mixed-use development
LITHUANIA Demolition and clearing work has started on the site of a former bakery plant in the Žvėrynas district of Vilnius to prepare it for the construction of a new business centre.
The business centre on Saltoniškių g. should be completed in 2017. M.M.M. Projektai is the developer of the project. The preparation work should be finished in June, with the construction work scheduled to start in 2016. The investor has already started negotiations with potential tenants for the office space.

According to vz.lt, the first 10,000 sqm of the class ‘A’ office space within the complex has already been designed. The project, which is located close to the Panorama shopping centre, could eventually comprise as much as 60,000 sqm, but the final plans have yet to be decided. Investment costs have not been disclosed. Future stages are to be designed and built according to market demand.

M.M.M. Projektai develops and manages commercial and residential real estate in Lithuania and other countries of Eastern Europe. Now the company is working on its Antakalnio Parkas residential project in Vilnius and on a 3,000 sqm shopping centre in Jonava near Kaunas.

The largest shareholder of M.M.M. Projektai is Nerijus Numavičius, the co-founder of Vilniaus Prekybos, which itself owns Maxima Group, pharmacy chain Euroapotheca and the Ermitažas building materials and household goods centre in Vilnius. Other larger shareholders include UAB Solinera and UAB Stetas, also directly or indirectly controlled by Vilniaus Prekybos and Nerijus Numavičius. (Source: vz.lt)

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