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The reviving Markučiai neighbourhood near the Vilnius Old Town is attracting real estate (RE) buyers and investors. Realco, one of the largest real estate developers in Lithuania, has started the construction of the Prie Vilnelės project, which has attracted a great deal of interest from buyers. EUR 15.5 million will be invested in the construction. 65 per cent of the apartments in this project have already been sold and it is planned to hand over the keys to the first residents at the end of 2022.

2–7 storey buildings in the Prie Vilnelės complex will contain 220 apartments. Only 80 of them are still available. In some buildings, the ground floor will be used for commercial purposes. According to Julius Dovidonis, CEO of Realco, Markučiai is as popular as Naujamiestis (New Town) and the Old Town among RE buyers.

“For a few months now, we have been noticing that Markučiai is a very popular neighbourhood among buyers. New residential projects developed in the neighbourhood are among the most popular – on average about 40 apartments are bought in Markučiai per month,” shares Mr. Dovidonis.

Living closer to nature

Markučiai, a neighbourhood on the left bank of the river Vilnia (known by the locals as Vilnelė), attracts buyers by convenient location and green spaces located nearby – the neighbourhood falls within the territory of Pavilniai Regional Park, and the nearby Markučiai Forest Reserve is a protected area.

According to Saulius Misevičius, the architect of the residential complex Prie Vilnelės, the territory has been planned with an effort to maintain as much green space as possible near the buildings so that the people living here are close not only to the city centre, which is 1.5 km away, but also to nature.

“The location itself dictates the need to pay more attention to nature. When designing this project, we committed to clean up the surrounding parts of the territory near the Manufaktūrų, Kaukysos, Pakraščio streets – we wanted to leave as much green space as possible near the already planned bicycle and walking paths,” explains Mr. Misevičius.

Julius Dovidonis, CEO of Realco, notes that in developing the project, the company also committed to build a footpath and cycling path that will connect the Manufaktūrų street with the pedestrian bridge over Vilnelė.

The residents of Prie Vilnelės will not only be able to use convenient bicycle paths that will be part of the common city’s network, but also enjoy the panorama of the Old Town – an open terrace will be installed on the roof of the highest building in the complex to be used by the community. Some residents will have private terraces: they will be installed on the ground floor of the buildings and rooftops of the lower buildings.

The height of the buildings in this complex which embodies the ties between the city and nature has been planned taking into account the insolation of nearby buildings so that every apartment receives adequate sunlight. For the convenience of the residents, underground parking lots have been planned, as well as the possibility to install charging points for electric vehicles.

Tribute to the residents of Vilnius

The Prie Vilnelės project is part of the Architektūros Parkas (Architecture Park) project initiated by the municipal government of Vilnius. According to Mr. Dovidonis, converting old industrial areas into living spaces not only ensures sustainable development of the capital city, but also serves as a tribute to the city’s residents.

“By reviving abandoned industrial areas, we are helping to realise the vision of Vilnius that the city centre should belong to people rather than industry. At present, the total area of ​​the old industrial territory in Markučiai exceeds 12 ha. We are glad that we can open these green, barely used spaces near Vilnelė to the residents of the city,” says the CEO of Realco.

This month, Realco sold its last apartment in Žvėryno Panoramos and successfully closed the project that attracted a lot of attention from buyers. Nevertheless, this year, the company presenting one new project after another remains one of the RE developers with the largest selection of properties in Vilnius. Realco is currently offering more than 400 apartments on the market in the most recent project Prie Vilnelės, the 7 Vakarai project being developed in Pašilaičiai, and in the Go Life complex being built near the Ozas Park. Prestigious housing in the Algirdo 3 project will be offered to the market in the near future.

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