Lithuanian-based Lords LB Baltic Fund II has announced the start of construction of a 14,250 m2 business centre in the capital Vilnius.
Lithuanian-based Lords LB Baltic Fund II has announced the start of construction of a 14,250 m2 business centre in the capital Vilnius.
A capsule was buried on 18 November to mark the official start of building the centre, known as k29. Located at Konstitucijos Avenue, the scheme involves a Class A building surrounded by a 2-hectare green zone and will offer as many as 560 parking spaces.
The project developer, the Lords LB Baltic Fund II, plans to invest LTL 100 million (almost €30 mln) in k29. Another LTL 4 mln will be earmarked for the adjacent public areas. The building is scheduled for completion by December 2014.
'It is an important investment project for reviving the right bank of the river Neris, both in terms of infrastructure and 1,800 new jobs. Construction of k29 will result in a new park and a renovated section of Lvovo Street,' Vilnius mayor Arturas Zuokas said.
