NEWS

Baltisches Haus plans to spend EUR 13.5 million on investment in 2021

2021-02-01

This year, Baltisches Haus plans investments in the amount of EUR 13.5 million. In 2021, the company will focus on completing projects under development and preparing for next the year’s projects.

It is expected that the company will invest EUR 4 million in commercial projects in Vilnius, and the remaining EUR 9.5 million – in other Lithuanian cities. In the capital, the major share of investments will be allocated by the company on finishing reconstruction of the business and leisure complex "Bokšto Skveras” (“Tower Square"). In other cities, the main investments will be in the preparation for the implementation of future projects and in the supermarket planned to be completed in Kretinga this summer.

“Our company has been systematically investing in real estate projects for 25 years and manages one of the largest supermarket and small neighbourhood-type shopping centre real estate portfolios in the market. All our investments are aimed at further organically strengthening and expanding our real estate portfolio that we worked hard to develop and manage, therefore any further developments will be quite selective. Nevertheless, we try to take advantage of the development opportunities in this market segment and are ready to continue investing. The majority of investments this year will be allocated for the completion of ongoing projects and preparation for the implementation of next year's projects in accordance with the approved development priorities,” said Audrius Masionis, CEO at Baltisches Haus UAB.

If in the beginning of 2020, the biggest challenge was to predict the deadlines for the implementation of projects in the initial stages of development; he currently identified the pandemic as their biggest challenge.

“Since the majority of the investments this year will be allocated on the completion of projects already under development, there should be no considerable challenges. The work of authorities, our partners and customers in the conditions of a pandemic is the main factor that may influence the course of project implementation this year,” added Masionis.

In 2020, Baltisches Haus has invested EUR 9.2 million in commercial real estate.

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