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In spring 2019, the first co-working area SPACES will settle in the Business Center LIVE SQUARE. EIKA and IWG that…

Open minds welcome. This is the call with which the new Live Square development on Gediminas Avenue will invite visitors…

The international hotel chain's first hotel in Vilnius, “Hilton Garden Inn“, will open its doors in 2018. In July of this year, the hotel network signed a contract with real estate developer “Eika”, which plans to build a 150-room hotel in Gediminas Avenue.

Construction of the four-star “Hilton Garden Inn” will start in the beginning of 2017 and is planned to be opened in the end of 2018. The contract with the international “Hilton Worldwide” network was written on the basis of a franchise, and negotiations are currently under way with the hotel's potential future operators.

The Lithuanian Architects' Union and real estate developer “EIKA” invite architects to an international competition to create a multi-functional complex on Gediminas Avenue in Vilnius. Construction of the complex is planned to start in the beginning of 2017.

“EIKA” real estate development and construction business group is expanding and forming an investment management company. The Bank of Lithuania's council decided to grant “EIKA Asset Management” a collective investment undertaking management license. This license grants the company the right to manage funds and companies that will attract outside professionals' investment funds.

After the demolition of the former bread bakery at Tuskulėnai street in Vilnius, “EIKA” company launches the construction of the settlement with apartment blocks named “Namų pynės”. During the planned five years of development of the settlement project, apartments for more than 400 families will be built, while the investment in this project will total 24 million euro.

“EIKA group” had purchased 2.6 ha land lot at Karaliaučiaus street in Pilaitė, and there is a plan to build more than 600 apartments. The construction of the first block of flats will start this year. “EIKA” is planning to invest more than 30 million euro to this particular residential neighbourhood.

The year of 2016 started with especially active sales in the primary housing market in Vilnius. During the first three months of this year, real estate developers sold nearly 1100 new apartments in the capital city – 32% more than during the same period last year. High activity of buyers is a reason that more apartments had been purchased in Vilnius than built, for the second quarter in a row.

The same number of new apartments were sold in Klaipėda in 2015 as in 2013, i.e. about 250, or 16% less than in 2014. In Kaunas, the trend was a bit different from the port city in 2015. With activated sales, the supply has shrunk by 22% and now amounts to barely 550 new apartments.

The year of 2015 was very active for real estate developers in Vilnius, and expert forecasts about sales returning to the level of 2013 after the introduction of the euro proved not to be correct. Last year the company sold nearly 3450 new apartments, i.e. 18% more than in the previous year.