Swedbank is funding construction operations of the IKEA shopping centre in Vilnius
2012-01-30 Back
Swedbank provided funding in the amount of EUR 30m to the Company Fe Real Estate investing in the acquisition of the land plot and construction of the IKEA shopping centre. It is planned that the shopping centre and the enterprise park will grow near Vilnius International Airport in 2013. Swedbank will be the main creditor of the construction operations of the would-be shopping centre.
“IKEA’s entrance to the Lithuanian market was long-awaited. We appreciate partnership with this company and are happy that our financial solutions will contribute to the implementation of the project“, – says Vytautas Bučiūnas, Head of the Corporate Banking division at Swedbank in Lithuania.
According to V. Bučiūnas, Lithuanian companies on order of IKEA have been providing raw materials and producing increasingly more products and enhancing their competitiveness in the international markets for more than 15 years. The construction of the IKEA shopping centre in Vilnius means new opportunities both for consumers as well as manufacturers and companies that will settle in the neighbourhood of the shopping centre.
The construction project of the IKEA shopping centre is one of the largest projects in Lithuania in terms of value and size. The first IKEA store in Baltic countries will occupy part of the land plot of 16 hectares in Vilnius near the International Airport and will be erected already next year. The other part of the land plot will be used for the enterprise park.
“We are optimistic that the arrival of IKEA will be beneficial to consumers in Lithuania and the city of Vilnius. It has been a pleasure to work with Swedbank, that has long-term experience with large business projects, and we are looking forward to our future co-operation”, says Sigurdur Palmason shareholder of Fe Real Estate.
