Construction, Good for Business, Investments, Lithuania, Markets and Companies, Real Estate

A long-term loan of LTL 70 million (EUR 20.3 million) is meant for the construction of A-class office building and installing of outside facilities. The project is planned to be finished at the end of 2014.

"Lately interest of investors in real estate market has been observed. Vilnius is especially favourable for implementation of projects intended for commercial exploitation. We think that high class office building, meeting the principles of sustainable development, will be in demand, as a result we have provided the needed financing," said Aivaras Cicelis, Head of Corporate Banking Division and Vice President of SEB Bank.

Investment fund Lords LB Baltic Fund II implementing the project plans to invest LTL 100 million (EUR 29 million) in business centre K29. Another LTL 4 million (EUR 1.2 million) are planned for managing the surroundings of the building.