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Luminor Bank lends 20.4 million LTL. GB Group, a new shopping center next to the Western Bypass project. The developer in the northwestern part of the capital under construction 32 thousand. The square meters of the complex will invest a total of 35 million. euros.
The main tenants of the center are already clear: 7 thousand. The square meters will be occupied by the “Maxima” store, and 13.4 thousand. Ermitažas, a shop for household goods and building and finishing materials, will be located in the area of square meters. In addition to these large tenants, there will be other companies that will offer essential goods and services.
“The Western Bypass is becoming a major artery of urban life, access to which is gradually filling important commercial and commercial objects. More recently, Luminor announced the financing of the Vilnius Outlet shopping center and today we announced an agreement with the developers of the GB project. Group in the northern part of the bypass. Although the retail sector and the commercial real estate rental market are considered vulnerable, the main tenants of the facility operate in the food and household goods market. It is these segments that demonstrate resistance to changes in consumer behavior inspired by the pandemic and quarantine, ”said Gediminas Kesminas, manager of real estate projects at Luminor.
According to him, Luminor has been cooperating successfully with GB Group for more than 5 years and this project once again demonstrates the ability of developers to correctly assess the changing environment and weigh the risks in large-scale projects.
“This is a great project, which is supported by a successful long-term partnership with Luminor Bank. After long and careful preparation, the process started successfully, so we hope that the work will continue according to plan, he noted. Živilė Žygienė, GB Group project manager. – Already creating the concept of this shopping center, we decided not to build another entertainment center, but to focus on the most necessary goods and services, convenient and fast shopping. With the global pandemic and changes accompanying her, we realize that it was the right decision and we hope that the successful completion of the project will coincide with the end of the pandemic, when we can all breathe a sigh of relief and return to normality. ”
The shopping center will be equipped with 600 parking spaces, the developers intend to install a convenient access road infrastructure and build a viaduct.
The mall is expected to open early next year.
