Hanner has acquired an abandonded area of Zalgiris stadium in Vilnius for 40 million euro and will develop a new business district.
Acquired area will be developed in two stages.
The bigger part of the are will become a brand new business district of Vilnius. It will have business centers, hotels, bars, restaurants and shopping malls. The new district will harmonize with a Congress center which is set for renovation by the Lithuanian government in the nearest future. The smaller part of the area will consist of luxurious residential apartments.
“In the end of 2015, we plan to start with the construction of the luxurious residential apartments near the river Neris. Later, in 2016, we will begin the development of the new business district” stated A. Avulis, the chairman of Hanner.
Total investment is estimated at 200 million euro. It will be one of the biggest investmens in the history of Hanner.
Hanner was founded in 1995 and specializes in real estate development. Company operates in Lithuania, Latvia, Ukraine, Romania and has completed projects in Russia.