Bonava Lietuva, a Swedish-owned real estate developer, plans to invest around 170 million euros in the development of apartment buildings in the Lithuanian capital.

Bonava Lietuva is currently actively looking for two to four sites for development, with around 20 million euros earmarked for their acquisition, the company’s CEO, Remigijus Pleteras, told BNS on Monday.

Meanwhile, investment in the development of apartment buildings, which would offer around 1,000-1,500 apartments to the market, would amount to around 150 million euros.

Operating in Lithuania since 2019, the company has more than 2,000 apartments, including already built ones and planned to be built, in its portfolio.

The company develops its projects exclusively in Vilnius, while the international Bonava group also operates in Latvia, Estonia, Finland, Sweden, and Germany.

The entire group is currently building more than 10,000 homes.

Source: BNS

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