SEB Bank provided a loan of 11 million litas to Eika group of companies for the development of real estate projects in Vilnius. Eika group of companies will use nearly 7 million litas of the loan for the construction of low-rise residential buildings in Santariškių namai, and more than 4 million litas of the loan to the construction of a new nine-story apartment building in Pilaitė.
“With the growing demand for new flats, we contribute to the development of perspective real estate projects, and supply high quality of new housing.We have a history of cooperation with Eika group of companies that has many years of experience, therefore, we continue our partnership by financing the company‘s projects in Vilnius”, says Vice President of SEB Bank, and Business Banking Director Aivaras Čičelis.
This year, Eika will invest 21 million litas to the low-rise settlement Santariškių namai. The largest part of the investment will be used to the first apartment house of energy class A. It’s construction has already started. About 200 new flats, a retail and service centre will be built in Santariškių namai by 2015. The construction of the settlement with the housing for about 1150 families should be completed by then.
The company will invest more than 20 million litas in the construction of apartment houses and the shopping centre in Pilaitė. Currently, it is building a nine-storey apartment house and NORFA shopping centre with 5 000 square meters of retail space in Pilaitė, scheduled for opening later this spring. By 2015, Eika is planning to build another 250 new flats in Pilaitė.
Eika will invest a total of 45 million litas to the real estate development in 2014. This year, the group of companies will begin to develop new residential projects in Vilnius – in Jeruzalė and Bajorai.