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SEB Bank and KS Holding Group signed 6.5 million. Value credit agreement for the construction of the Kesko Senukai store near the ring road of the Pilaitė district in Vilnius. According to Vilius Juzikis, Director of SEB’s Commercial Banking Department, the retail construction materials market is showing constant growth every year, so this step is natural and timely.
“The building materials retail market in Lithuania has grown by almost 9% on average every year for the last 3 years. The 2020 pandemic also didn’t stop this outbreak, so annual market growth should reach around 7 percent. This was also influenced by travel restrictions, as residents spent a large part of their family budget on entertainment and improving their surroundings as income increased. We shouldn’t see any significant change this year either: with construction volume in the residential segment maintaining current development, trade in the DIY segment should be 5-7%. Higher than last year so we see great potential in this future store. The value to the residents of the ever-growing Pilaitė district is no less important, as bike and pedestrian paths will be installed around the store, and the environment will be fixed and planted, ”says V. Juzikis, Banking Director Commercial SEB.
Justinas Galginaitis, financial director of the real estate investment company KS Holding and director of the project company Delta Turtas, highlights that the strong flow of visitors from DIY stores and the favorable forecasts of market growth make this class of properties attractive to investors. “Although retail as an asset class has been valued slightly more among real estate investors than other traditional types of property for several years, the profitability of the DIY segment remains stable and, together with the food segment, is a good variety of this asset class.. considerable demand from investors “, – teaches J. Galginaitis.
In Vilnius, V. Pociūno str. will rise 9,600 square meters. Shop area m, next to it 225 parking spaces will be installed. On the ground floor of the building commercial, storage and auxiliary premises are projected, and on the mezzanine, a store administration office. There will be an outdoor exhibition next to the store, where the seasonal trade in plants and other goods will take place.
