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Europa shopping center. Photo by Judita Grigelyts (V)
Baltic Horizon Fund, a real estate fund of the Danish investment company Northern Horizon Capital, is preparing for the reconstruction of Vilnius’ Europa shopping center. He selected the best ideas from the Finnish architecture and interior design studio Bolder Development in an architecture competition.
The fund has not yet revealed what the renovated shopping center will look like, the scope of the reconstruction and how much it plans to invest. The information is expected to be released in April through the stock exchange.
According to the foundation, the winner of the competition has participated in more than 15 shopping center projects in Finland, the Baltic countries and Russia.
A total of 12 teams participated in the international architecture competition organized by the Foundation, which took place in the Baltic and Scandinavian countries.
The purpose of the reconstruction is to offer visitors a functional concept of a shopping center. We strive to ensure that every square foot of common space is tailored to the customer’s convenience and characteristics. Bolder Development Oy is distinguished by its experience and progressive approach, offering a unique concept in line with the latest trends in shopping center interiors. Solutions tailored after rebuilding will respond to changing customer needs after the pandemic and will be relevant for at least another decade, says Egl Jukien, director of the mall.
The reconstruction of the building is planned for 2021-2022.
2004 The commercial center built is 22,000 square meters. m of area, operates almost 100 points of sale and service.
The income of the Baltic Horizon Fund, which also manages other objects, in Lithuania last year decreased by 15.9% to 4.47 million. EUR. In the Baltic countries, the fund’s income in 2020 grew, but suffered 13.5 million. Net loss in euros.
According to the fund, the Lithuanian market showed the least promising results among the Baltic countries, due to the temporary establishment of shopping centers in March and December last year.
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