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Vastint takes on palace

Anna Pakulniewicz 04 October 2017

Anna Pakulniewicz

Journalist

+48 22 356 25 07
anna@eurobuildcee.com

Ania covers the Baltic states’ real estate markets, architecture and urban planning in Warsaw as well as interior design. She is also the co-founder of Eurobuild TV. Among others, she has been employed by TVN CNBC, PAP Insider, WBJ (The Observer), Poland Monthly and IMM. She graduated from the Warsaw School of Economics, majoring in international relations. She has also completed postgraduate studies in macroeconomic analysis. In addition to this, she studied Lithuanian philology

Vastint takes on palace
A mixed-used project is to be developed which will include a residential section
LITHUANIA Vastint is surveying the grounds of Radvilų Valda palace that is a former hospital in Vilnius’ Old Town.

The 1.79 ha plot, which is currently the site of a 16,500 sqm buildings, was bought by Vastint Lithuania at auction from Turto Bankas. Vastint was the only bidder. A mixed-used project is to be developed which will include a residential section.

Turto Bankas has already been granted planning permission for 26,000 sqm of residential and commercial space including more than 200 apartments, a hotel and some offices. The project also includes the renovation of the historic Tiškevičiai Palace and winter gardens.

“This project results from the long-term investment strategy of our company in Lithuania and will ensure our stable growth. For several years now, we have been expanding our portfolios with residential construction on European markets, although our main activity is the development of hotels and offices, which is why the project of Radvilų Valda completely met our expectations,” said Kęstutis Vedeckis, the managing director of Vastint Lithuania.




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