Realco Company plans to invest EUR 31 million into residential development projects in 2019. The company will invest EUR 25.2 million in Vilnius and EUR 5.8 million in Šventoji.
In 2018, Realco invested EUR 16.1 million, in 2017 – EUR 26.8 million.
In 2018, the total number of flats sold by Realco in the residential development projects 'The Lakes Linkmenai', 'Žvėrynas Panorama', and 'Ozas Park' in Vilnius was 391. While the company's sales in 2017 were 438 flats.
The 'Lakes Linkmenai’ is No. 1
'Last year, Vilnius real estate market experienced increased supply of flats.
The number of real estate projects in the capital city was growing, noticeably increasing competition. Our sales were corrected also by bureaucratic obstacles, which delayed issue of building permits followed by misunderstandings', said Realco Managing Director Julius Dovidonis.
Last year, same as in 2017, the name of the most popular Realco project in Vilnius was sustained by estate of blocks of flats 'The Lakes Linkmenai'. In 2018, buyers purchased 179 flats in the estate developed in Šnipiškės.
Construction of the 'Ozas Park' was completed
Last year, Realco finished construction of the 'Ozas Park' residential estate. Four blocks emerged during the last stage of this estate development.
Sales were successful: In 2018, Realco sold 128 flats, at present the 'Ozas Park' has only 51 vacant flat. Buyers showed interest in 'Žvėrynas Panoramas' project launched by Realco in the second half of 2018. In the blocks emerging on Siesikų street in the capital city, 84 flats out of 399 have already been sold.
At present, the company offers 383 flats for sale in the 'Lakes Linkmenai', 'Ozas Park', and 'Žvėrynas Panoramas' estates. Realco investment into the 'Žvėrynas Panoramas' project will amount to EUR 24 million, to the 'Lakes Linkmenai' estate – EUR 38 million.
Investment of the company into the last stage of the 'Ozas Park' development, four blocks, is EUR 16 million. The total value of real estate projects developed by Realco is over EUR 150 million.