Hansabankas supports the construction of a trading center Gedimino 9
2005-12-09 Back
Hansabankas has provided a EUR 30m (LTL 103.6m) loan to Lithuanian contractor, UAB Ajolas for the construction of a new large shopping center, Gedimino 9. It is expected to open its door in March 2007.
This loan has refinanced the previous loan to UAB Ajolas and has been given out for a 15-year period.
The reconstruction of the building (that in the past belonged to Vilnius Municipality) in Gedimino Prospektas (Gedimino Avenue) commenced allready. Irish businessmen's investments are set to be about LTL 123.6m. The building that stands in one of the main Vilnius streets will be renovated and transformed into a shopping and entertainment center, whose total floor area will be 18,000 square meters. 600 new work places will be created in this shopping center.
"We believe in this project's success and think that Gedimino 9 will become a new attraction axis in Gedimino Prospektas. We are glad to have contributed to the creation of Vilnius commercial face,"- says Tomas Andrejauskas, Deputy Chairman of Hansabankas Board.
The investor, an Irish assets management company, Duke House Asset Managers specializes in development and reconstruction of shopping centers. Its shareholders are Bernard F. Hamill and Robert S. Neill who have been in commercial property and retail trade development business over 30 years. They have already implemented similar investment projects in Ireland and United Kingdom and started investing in Lithuania.
UAB Ajolas is a Lithuanian company founded for the management and administration of this project. Its share capital stands at LTL 10m.
Hansabank Group belongs to Swedbank, the leading financial institution in the Baltics and Nordic countries. Swedbank has over 8.4 million personal customers and almost 400,000 business customers in Lithuania, Latvia, Estonia and Sweden. It has 750 bank offices in Sweden and about 280 bank offices in the Baltics. Its staff consists of 15,000 employees.
