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  • ‘Eika’ establishes a company providing real estate and project management services, with Martynas Žibūda as manager

    From 1 January 2024, within the Eika Group, the real estate (RE) management services will be provided by UAB Eika Development. The spectrum of services provided by this company will encompass RE project development control: from vision and idea, to the acquisition of the plot of land, design, liaison and construction, as well as technical maintenance and after-sales service control. UAB Eika becomes the controlling company within the Group and will provide finance, IT, sustainability and innovations, marketing and communications, staff management and legal services.

    According to the CEO of Eika, Domas Dargis, this is a natural step in implementing a clear business management structure: ‘Currently, the Group already has six business activities: RE development, construction, housing services, technology creation, investment funds management and infrastructure development projects. All these areas of the business activity are already operating within separate companies, and, by differentiating the RE management activity, we end the creation process of the structure of the Group companies’.

    The company Eika Development is taking over an essential RE management experience spanning a timeline of thirty years. To ensure a smooth continuity of business activity Martynas Žibūda, who is currently acting as assistant to the CEO of Eika, has been appointed CEO of Eika Development. About seventy highest-grade specialists, each of them having long years of experience in the RE project management field, will be working in the new company. Žibūda commented: ‘Due to the size of our team and the scope of activities, we are one of the largest RE project management companies in the Baltic states.’ At the start of 2024, the company will control 15 buildings in the stage of project development and 10 in the stage of construction performance, and 18 projects in the stage of operation of buildings.

    Žibūda states that they feel mature enough for larger, state-level projects, and this structural change creates an opportunity to provide RE management services to all market participants – not only to the Eika Group companies; in the future, they plan to expand abroad.