Good for Business, Investments, Lithuania, Markets and Companies, Real Estate, Retail

This part of the complex houses 17 stores and restaurants.

Peter Gage Morris, a member of the management board at Estonia's Nantucket Holdings, Nordika's investor, said that the first phase was operating successfully, with the Finnish-Lithuanian building and home improvement supplies chain Senukai being its largest tenant.

A stake in the operator of Nordika was sold last year to Estonia's investment company Zenith Capital Management. Morris said that the deal was aimed at attracting some additional capital.

"They are our investment partners, having acquired 50 percent of the project. It is always good to have a partner with capital, because then you can invest more. It is an asset management company whose clients include both institutional investors and wealthy individuals. They are based in Estonia. We are talking with them and may possibly carry out other projects together," he said.

Morris confirmed that he was planning more investments in Lithuania, but gave no details.

"We do have plans in Lithuania. I am currently working on more than one project in various countries, such as Estonia, Portugal and France. But I am also planning projects here. Yes, we are planning to launch them quite soon," he said.

The total investment in Nordika amounts to 50 million euros. Nantucket Holdings holds 83.34 percent of shares in the company and Ziempre Investment Limited owns 16.66 percent.