With future agreement, EBRD would become a strategic financial investor in developing existing and future Urban HUB projects in Lithuania, other Baltic countries, and Central and Eastern Europe. EBRD seeks to acquire a 40% stake in Urban Hub Holding, which indirectly owns the projects under development.
In 2023, EUR 11 million equity investment to Urban HUB projects has been already attracted from TABA Invest, investment company owned by Tautvydas Barštys family.
Back in June 2023, SBA Urban began construction of a more than 70,000 m2 Urban Hub retail and business city in Kaunas District at a 12.5 ha site next to the Vilnius-Kaunas motorway. Investments in the project will amount to over EUR 100 million. In the first phase, four buildings with a total area of 22,000 m2 will be developed. They will accommodate around 50 businesses seeking retail, office and warehouse spaces. Project will also provide tenants and visitors with amenities such as green leisure areas, cafés, and over 500 parking spaces including e-charging stations. The first project phase is planned to be completed in nine months, with the first tenants moving in by mid next year. In September 2023, SBA Urban announced successful public placement of EUR 8 million two-year bond issue to finance the development of the first phase of the Urban Hub project in Kaunas. Šiaulių Bankas has granted EUR 16.5m debt financing for the project.
In summer 2023, SBA Urban also started construction of Urban Hub project in Vilnius. The 22,000-sqm campus is located on a 4.3 ha site in Avižieniai in Vilnius District. Investment to the project amounts to over EUR 30 million. Construction works commenced in July 2023, and the premises are scheduled to be opened mid-next year. The project is backed by a EUR 21.6 million debt financing from Bigbank.
The general contractor for both projects is YIT Lietuva.
SBA Urban is SBA Group’s real estate development company. It owns the Green Hall business centres in Vilnius and BLC in Kaunas, next to the Unity Square renovated by SBA, which has received international acclaim. Together with Urban HUB projects, SBA Urban is also developing Nemunaičiai mixed-use district in Kaunas, Kopų Slėnis prime apartment project in Palanga, and Vėjo Miestelis residential district in Svencelė.