In 2022, the real estate development company "Realco" purchased a plot of 2,4 hectares (ha) near the Vilnius Exhibition and Congress Palace.Litexpo", plans to build a block of 700 middle-class apartments there, reports the portal "Verslo žinios".
Three are being designed apartment buildings, consisting of smaller buildings in which 260, 177 and 199 apartments are planned. There are also 38 non-residential premises for commerce and 493 car and 140 bicycle parking spaces.
The head of the company, Julius Dovidonis, says that he does not yet decide to talk about investments or construction deadlines, because it is still difficult to predict the processes. He said that he hopes for the approval of the design proposals as soon as possible so that he can work on the technical project, but it seems that construction should not be expected this year.
"We plan to have it (approval - BNS) in the second quarter of 2025. The start of construction and sales will also depend on this. It is too early to talk about investments, bearing in mind that we are at the stage of coordinating project proposals," J. Dovidonis told "Verslo žiniams".
