EU – Baltic States, Good for Business, Investments, Lithuania, Markets and Companies, Real Estate

Vilnius Mayor Artūras Zuokas and Schage director Kjetil T. Hanssen. Photo: vilnius.lt

This will also be the first time that a modern office building makes use of geothermal energy for its heating system in Lithuania.

The project will be headed by Vilnius Mayor Artūras Zuokas and Schage director Kjetil T. Hanssen.

“The right bank of the Neris is once again the largest construction project center in the Baltic region. There are 9 significant investment projects under way right now, which have attracted 500 mil. Lt. The municipality will invest an additional 100 mil. in infrastructure. These projects will create thousands of jobs. The ‘Quadrum’ business center alone, once completed, will generate roughly 4,000 new jobs,” – said Mayor A. Zuokas.

Other investments are planned for the area as well. At Konstitucijos pr. 29, right next to “Quadrum,” UAB Lords LB Asset Management is building a 15,800 m² A class office building scheduled for completion by 2014. The investments for this project are planned to reach up to 75 mil. Lt., with an additional 5 mil. going to surrounding public areas and a park with public parking spaces.

The “Quadrum” project will be an A+ class 70,000 m² “business city within a city.” It will incorporate some of the most advanced office building technologies available, high-quality Scandinavian construction,  and sustainable development. The three buildings will feature innovatively prepared offices with multifunctional conference halls, restaurants, recreational areas, a green garden, 700 underground garages, and a shopping and service center. Economy and environmental friendliness are core ideas behind “Quantum’s” design. A “BREEAM” certificate will ensure that the building preserves the surrounding environment, uses energy efficiently, and offers its visitors and workers the greatest level of comfort. This will be the first business center in the Baltic nations to feature this prestigious certificate.

To celebrate the beginning of the construction project, a time capsule will be buried at the construction site. A shaft will also be drilled to establish the first part of “Quadrum’s” geothermal heating system.

Schage belongs to the the Norwegian Schage family’s group of companies. In 2011, “Schage Group’s” total turnover reached 373 mil. Lit., and “Schage Eiendom” holds 1,2 bil. Lit. worth of private capital. Since 1998, the company has been operating in Lithuania as well. Since then, it has completed many projects, including: the reconstruction of an administrative building complex on Subačiiaus g., an office building on Vytenio g., the „Mikalojaus Žiedas“ residential complex in Vilnius‘ Old Town, and residential complexes in Žverynas and on Latvių g. The mother company, Schage Eiendom, has developed numerous A class office buildings throughout Scandinavia, like the Oslo “Skoyen Atrium“ (40.000 m²), “Skoyen Atrium III“ (25.000m²), and the “Helsfyr Atrium“ (38,000 m²).