Construction, EU – Baltic States, Good for Business, Investments, Lithuania, Real Estate

Natalija Monkevieciene, head of business expansion at Eastnine Lithuania, says the group has already turned to the Vilnius authorities, initiative changes to the territory's detailed plan.

"The group's 3 Bures business center is situated in this territory. The company is considering building Lithuania's first high-rise building built out of wood," she told BNS.

Vilnius chief architect Mindaugas Pakalnis told BNS the local authorities would analyze whether such a building could be built in Vilnius' central business area. In his words, one of the challenges related to this project would be to receive approval from fire safety specialists.

The 3 Bures complex includes three 17, 23 and 24-storeyed buildings. The company bought the two buildings and a lot lot for the construction of the third one for 61.6 million euros in 2014 and completed the construction of the thrid building in 2018, having invested over 25 million euros.

Earlier this month, Eastnine received a permit to build a wooden office building in Riga and plans to complete it by the middle of 2021.