SEB Bank provides 16.3 million LTL loan to EIKA Group 2013.07.10

“We are seeking to develop a long-term partnership based on trust with companies that have maintained close collaboration with our bank both when the economy was booming and when it was in crisis. As the current crisis dissipates, we are carefully monitoring the situation in the real estate market and we are financing development of residential projects that have potential and reflect to the reality”, said Aivaras Čičelis, Vice-Chairman of SEB Bank and Director of the company’s Business Banking Service.

This year Eika plans to invest a total of about 10 million LTL in Pilaitė development. This investment will be used for the construction of a new 9-storey apartment house and a high-rise 520-place parking. At present a 42-apartment building is already nearing the completion in Pilaitė, while a 71-apartment nine-storey residential building was completed and approved for the occupation.

Santariškių namai (part of EIKA Group) this year is planning to invest 18 million LTL for the development of a low-rise settlement next to Verkiai Park. At present a block of 30 apartments and innovative semi-detached houses are nearing to completion in Santariškės. This year the construction of the new development stage Gilės residential was commenced. The Gilės stage (the name means ‘Acorns’) is exceptional because of the spacious (up to 45 m²) terraces/patios or balconies of up to 9 m². The plan for the third stage includes the construction of 190 apartments varying in size from 31 m² to 82 m². It is planned that the first new residents will move into the Gilė houses next spring. It is also planned to construct about 80 flats and semi-detached houses in Santariškės this year.

By 2015, Eika plans to have built 250 new apartments and a shopping centre in Pilaitė. It also plans to build the same number of apartments and a shopping centre in Santariškės.