The trust of financial partners is important
Andrius Mikalauskas, Director of Urban LIVE, a subsidiary of SBA Urban developing Nemunaičiai, says: „Nemunaičiai one of the most ambitious and significant new city center developments in Kaunas and in Lithuania in size, scope, and ambition. Having successfully completed and sold more than 160 apartments in the first phase of the district, we are continuing the development with the exclusive Pasaka project, where more than a third of the apartments have been reserved just a few months after construction. We have a great experience with the Bigbank team and are confident that our partners' professional approach, flexibility, and reliability will contribute to the successful implementation of the project“.
The vision of Nemunaičiai is to create the best new city centre for living, working and leisure. The 6 hectares of land – more than 70,000 sqm – will be developed in several phases by 2031, comprising more than 600 apartments in various segments, 30,000 sqm of business centres, retail, service and leisure areas on the ground floors. The development will also include public and green spaces, squares for residents and visitors, lively courtyards and an exclusive promenade along the Nemunas River. SBA Urban, along with its partners TABA Invest, plans to invest over EUR 250 million in the development of the district.
Pasaka is not the first SBA Urban project financed by Bigbank. BigBank has also provided over EUR 21 million in financing for developing the Urban HUB shopping campus in Vilnius, Avižieniai. Construction was completed in the summer of 2024, and almost two-thirds of the space is currently leased.
Deividas Žukas, Head of the Business Loans Department at Bigbank: „Nemunaičiai district developed by SBA group has a lot of potential, which is not limited to the implementation of Pasaka project alone. Nemunaičiai development is distinguished by its unique location, modern architecture and clear development prospects, which appeal to homebuyers and businesses seeking to expand. The fact that a third of the apartments in Pasaka project were reserved in a short period demonstrates this. By contributing to the successful realisation of this project, we hope to become part of the new centre of Kaunas“.
Fast-paced construction
In the fall of 2024, SBA Urban launched the second phase of Nemunaičiai development on H. and O. Minkovskių Street in Kaunas. This phase includes constructing Hermanas A-class business centre, Pasaka residential project, and a multi-story parking facility. Rolandas Paleckas Architects Studio designed the architecture for this phase.
The A++ energy class building Pasaka has seven floors, the first two of which are dedicated to commercial activities. The project includes 90 1–4 room apartments of various sizes – from 28 to 80 sqm, with the possibility of combining them to create an exclusive dwelling of almost 160 sqm. Construction work on the project started in September of last year, and the second floor of the building is currently under construction. The completion of the construction works is scheduled for the first quarter of 2026. Infes is the general contractor for the project, and the investment will amount to around EUR 17 million.
Meanwhile, the construction of the 10,000 sqm Class A business centre Hermanas and a multi-storey car park, which will start in August 2024, has made significant progress. The three floors of the business centre have been completed, and the 4th floor is being erected, with engineering network installation work underway. The project is expected to be completed by the end of this year. Veikmės Statyba is carrying out the general contracting works. The investment in the project will amount to around EUR 34 million.