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REALCO JOINS THE VILNIUS GREEN WAVE INITIATIVE

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Realco, real estate (RE) developer, which has joined the Green Wave initiated by the municipality of the Vilnius city, draws attention to the inexorably growing importance of greenery in the development of new RE projects, and announces that it will continue to strengthen its position in the creation and maintenance of green spaces in the city.

“The capital’s talk of becoming a greener city materialised into action, which we were happy to join in: we supported the Green Wave initiated by the city of Vilnius and donated about a quarter of the trees needed for the afforestation of Konstitucijos Avenue. The ideas of sustainability and greenery are also very close to our business centre Hero which is currently under development and will be built on the site of the Ibrahim shopping centre on Lvovo Street. Since we will be located right next to the capital’s central business district, we see the sense and mission to make it greener for the residents who commute to work every day,” Julius Dovidonis, CEO of Realco, commented.

Kristinas Taukačikas, Advisor to Vilnius Mayor Remigijus Šimašius, said that the ambitious goal of the Green Wave to turn the streets of Vilnius green in two years is possible with the help from businesses and residents.

“We appreciate the fact that the capital’s businesses understand the importance of going green and are contributing to the goals of the city’s municipality not only with their thoughts, but also with their financial support and their deeds. The more such support we get, the more realistic our goal of turning grey motorways into cozy, green streets of a modern city will become,” he said.

According to the CEO of Realco, the days when the city was imagined only as a skyline of high rises are long gone. According to the recent European trends, a city of the future is green, with green and tree-planted spaces visible in public areas, in residential projects and in the development of business centres.

“Green spaces are no longer an advantage of a real estate project, they are now a necessity. A city is first and foremost for its people, and their quality of life is unimaginable without green spaces. In our conversations with clients, we notice that many newcomers are looking to combine the infrastructure of the city with the tranquillity of nature in their search for a home, so RE developers have to rack their brains quite a bit, both in terms of looking for land plots and designing projects,” Mr. Dovidonis explained.

The company’s CEO points out that the COVID-19 pandemic has reinforced the need for green spaces. Attention to the well-being of environment as one of the attributes associated with a good RE developer is named by as many as three out of ten newcomers in Vilnius, and the view from the window is important to as many as half of them, according to the survey conducted by Spinter Research on behalf of Realco in July this year.

This is the trend not only in Lithuania, but also in many European cities. For example, the post-pandemic increase in people’s tendency to look for a home closer to green spaces is confirmed by the residential market survey carried out last year in England by the International RE Market Research Company (RICS, Royal Institution of Chartered Surveyors). According to its data, as many as 74% of the respondents are looking for a home near green spaces.

According to Mr. Dovidonis, his company realised the importance of green spaces more than a decade ago and has been steadily strengthening its position not only through the creation of public spaces, but also through the solutions it implements in the territories of the developed projects.

The Žvėryno Panoramos in Šeškinė is distinguished by its rich greenery, with over 2.7 thousand plants planted in the project area. As part of the Linkmenų Ežerai project, the company cleaned up the ponds in the vicinity and adapted the area to the public. Realco also has ambitious green ideas for residential projects currently under development.

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