MG Valda, one of the largest real estate development companies in Lithuania, will invest a record amount of 74 million in new projects this year. euros, which is approximately twice as much as the company invested in 2017 (38 million euros).
Sigita Survilaitė-Mekionienė, the general director of MG Valdas, predicts that in 2018 the country's economic prospects and the mood of the population will remain positive, which means a favorable investment environment for business.
"Looking at the country's economy more globally, we are in a stage of stable growth, which is extremely important for a specific business that is planning new investments. Our long-term experience already allows us to predict certain reactions and cycles of the real estate market, so we are boldly increasing the pace and this year we will increase the scope of our activities, develop new ones and continue already started projects", comments general director S. Survilaitė-Mekionienė.
Investment directions
"MG Valda" this year 20 million. EUR will be invested in the development of the second building of the modern Park Town business complex.
"The first building of the Park Town business complex has already been built and is almost fully leased, so it is clear that modern office spaces, characterized by extremely high and unparalleled technologies on the market, are extremely attractive for modern business." Seeing the positive perspective of the office rental market, we are investing and simultaneously developing the second building of this complex," says the company's general director.
"MG Valda" this year 13 million. EUR planned to invest in a unique concept business complex in the very capital in the old town, in the multifunctional "Paupio" district, development.
"In the old town of the capital, there is a very large lack of new, high-class offices, so in this part of the city we will offer the market office spaces adapted to different business segments: an office building with non-standard planning, exclusive exterior and interior design, which will bring together representatives of creative industries under one roof, we are designing other buildings for modern, for companies looking for exclusivity, valuing the history of the old town of Vilnius and the highest level of services", says general director S. Survilaitė-Mekionienė.
"MG Valda" plans to invest 31 million in residential property projects this year. euros. The company will invest 25 mln. euros.
"Analyzing the needs of the market, we see a small supply of unique, high and prestigious residential projects, so we focused on the needs of this segment when planning "Paupia", which will be located in the old town of Vilnius. As soon as this project was announced, meeting reservations filled up until the end of April - it is clear that the market is waiting for exceptional projects in the central part of the city", asserts the general director of MG Valdos.
In the near future, the company will also complete one of the largest conversion projects in Lithuania - the "Antakalni Teras" settlement, in the final stage of which only a third of the apartments in "Ažuola Teras" remained unsold. The company will also continue the sale of apartments in the final phase of the LightHouse settlement and the sale of the last apartments of Užupis krantini.
In 2018, approximately 10 million EUR "MG Valda" will also invest in the basis of public-private partnership (PPP) with Lithuania police the construction of a new detention center and commissariat in Vilnius is being implemented.
"Last year we successfully started and this year we are continuing the implementation of the first such joint police and private business project in Lithuania. We hope that we will be able to apply our experience in other similar projects, which is why we are currently participating in the Kaunas and Panevėžys police commissariat construction tenders", says S. Survilaitė-Mekionienė.
In addition to the above-mentioned projects, this year MG Valda will continue to develop the 8,5-hectare business park "Vilnius Business Park", part of which will be occupied by the new administrative and logistics center of the "Apranga" group. The latter is planned to be completed already in March.
