Lithuania, Markets and Companies, Real Estate, Retail

International Internet Magazine. Baltic States news & analytics Sunday, 05.07.2020, 11:24

Lithuania's Akropolis Group to present new Akropolis project this year

BC, Vilnius, 13.11.2019.Print version
Lithuania's Akropolis Group hopes to present to the public the project for the construction of a new Akropolis shopping mall near Vingis Park in Vilnius, in the territory of the former Velga production facility, as early as this year, informed LETA/BNS.

The group operating real estate project development companies in Lithuania, Latvia, Estonia and Bulgaria does not disclose when it plans to start the construction of the new mall or the value of the investment.

"We are putting the final touches to be able to present the conversion plans to the public as early as this year. A cultural, leisure, commerce and business complex and residential housing are planned in the territory of the former plant," Vytautas Labeckas, board chairman at Akropolis Group, said.

In his words, the new complex will cover a total area of 120,000 square meters, and the group also plans to build a 30,000 square meter office space and a concert hall. The latter should have around 4,000 seats, based on information available to LETA/BNS. Also, a multi-storey car park will be built.

"We estimate that the total complex size will be similar to the one we received the permit for in 2009, with around 120,000 square meters of commerce space and around 30,000 for offices," Labeckas said.

Akropolis Group confirmed plans in 2017 to build a new shopping mall in Vilnius by 2021. It was stated then that the new mall would have 70,000 square meters of lease space. And the group planned to start the construction in 2020 and complete it in four stages.

The first Akropolis mall was opened in Vilnius in 2002 and its area now exceeds 109,000 square meters.

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