11.1 million euro of the loan will be used for the implementation of Eika group real estate projects in Vilnius.The company has extended previous 38.2 million euro credits to fund its real estate.The total value of the deal signed between SEB bank and Eika of companies is 49.3 million euro.
A loan of almost 6 million euro was granted to one of the largest projects of the group – construction of the 135 business centre and apartment complex.Construction of the complex of 15 thousand sq. meters at the intersection of Žalgirio and Linkmenų streets will begin in the second quarter of this year.It is planned that the business centre will open its doors at the end of 2016, while settlers can move to their apartments in 2017.
5.3 million euro will be used for residential construction in Jeruzalė, Pilaitė and Santariškės.This year in Jeruzalė Eika has launched Domino Namai project which will house more than 100 families.The group of companies also continued Pilaitė block development:this year, the company completed two apartment buildings, containing 150 apartments, and launched the construction of 87 apartments in a nine-storey apartment building.This year Eika also plans to finish Santariškių Namai village recognised as a best low-rise residential project in the Baltic states.In total, Eika group of companies will invest 12.5 million euro in real estate development in 2015.
“Despite geopolitical challenges, promising real estate projects continue to be of interest to the market.We continue the partnership with our long-time partner – Eika group of companies, funding its projects in Vilnius”, says SEB Bank Vice President, Corporate Banking Division Manager Aivaras Čičelis.
About EIKA group
Established in 1992 EIKA is one of the largest real estate developers and construction service providers in Lithuania. Companies of EIKA group: “Eika” is a real estate market leader, valued for the progress, innovativeness and reliability; “Eikos statyba” is one of the biggest construction companies in Lithuania with great experience in the construction and renovation of administrative, public, commercial, industrial and residential buildings.