Šiaulių Bankas has provided EUR 6.4 million in financing for the construction of the first stage of the residential project Mėlyni Vilkai, which belongs to the Eika Residential Fund managed by Eika Asset Management. This phase includes 122 apartments and commercial premises to be built by Q4 2022.
The real estate project Mėlyni Vilkai in Skroblų Street was launched in April 2021. The investment in phase I amounts to EUR 11.9 million, of which a loan from Šiaulių Bankas will finance EUR 6.4 million. The loan is for two years. As soon as the sales of phase I started, the project attracted customer interest and favourable reviews. More than 70% of the apartments in phase I have now been provisionally sold. The total investment in the two-phase project is expected to reach EUR 20.7 million. The second phase of the project includes the construction of two more apartment buildings, with construction expected to start in Q1 2022.
“Šiaulių Bankas is a long-standing partner who has contributed to the financing of numerous projects managed by Eika. We value this bank for its professional and efficient knowledge of the real estate market and its financing model. The project we manage is doing well, the clients are interested in it and sales are strong. We are one of the first to believe in the prospects of the Vilkpėdė district and bring new life to the former warehouse area – by developing a conversion project we contribute to the sustainable development of the city,” says Martynas Žibūda, development director at UAB Eika.
“Vilkpėdė is a Vilnius district with a lot of potential, and we are happy to contribute to its development and infrastructure. We have already collaborated several times with the project developer, which is known for its professionalism and the quality of the projects developed, so we have no doubt in the success of Mėlyni Vilkai,” said Kęstutis Grinius, Šiaulių Bankas’s Director of Business Clients for the Vilnius region.
Mėlyni Vilkai is a residential area in Vilkpėdė designed for a rational and visionary urbanite, creating excellent conditions for living close to the centre of the city, where residents can enjoy active city life close to the bustling Naujamiestis, while at the same time enjoying the tranquillity of an enclosed area away from the main attractions of the city centre.