Mindaugas Vanagas, a shareholder of Citus, says:
Citus has been operating in the real estate market for almost 13 years. During that time, we have grown significantly and established our unique identity. Over the last five years, we introduced a new operating system centred on project development processes and strengthened our market position. On behalf of the entire team and myself, I would like to thank Mantas Galdikas for achieving this important milestone. He took the helm at a difficult moment – at the peak of the COVID-19 quarantine. And now, thanks to Mantas, we have a clear structure, well-defined project teams and processes to move firmly into a new phase of growth. The maturity of the organisation and, the strong results achieved during the pandemic and the market slowdown caused by the war in Ukraine perfectly reflect Mantas' competencies.
Mantas Galdikas continues:
I am delighted to have had the opportunity to work for such a dynamic and ambitious company. Of the five years I spent here, at least four years have been marked by turbulence in the housing market. But we managed to create a project-oriented organisation with smooth processes that have led to significant results: high project profitability and good returns to shareholders and investors. The changes implemented and these results give me confidence in the long-term success of the company.
Vilius Kucinas has held senior positions in large corporate groups, most recently as Head of the Finance Department of Girteka Group and Head of the Finance and Information Technology Departments of GetJet Airlines. In addition, he serves as an independent board member, advising on business development and efficiency issues. For several years, he has also been advising Citus on these issues.
He holds both a Bachelor’s and a Master’s degree from the Faculty of Mathematics and Informatics of Vilnius University. Subsequently, he earned a Master’s in International Business Management from Vytautas Magnus University and a Master’s in Business Administration from the BMI Executive Institute.
He commented: ‘Joining the Citus team is a significant challenge for me. It is one of the sector’s most dynamic and prominent companies, developing exceptional projects and pursuing ambitious growth goals. With a competent and motivated team, I am to guide Citus to a leading position in the market.’
Mindaugas Vanagas concludes that this change in the executive team opens a fresh chapter in strategic Citus’ development. He emphasises that the structure of the Vanagas Group, which he founded, enables high long-term growth and even greater ambitions. Therefore, he has exceptionally high growth expectations for the new Citus director.
Citus is a creative real estate projects development and placemaking company specialising in distinctive residential and commercial projects. The company aims to construct homes and build communities that enhance the city’s image and improve quality of life. Citus is currently developing projects in Vilnius, Kaunas, Druskininkai and Nida.
In 2024, 307 transactions were concluded in projects managed by Citus and 210 in 2023. This year, 240 deals were completed in Vilnius alone, 10 in Kaunas, 38 in Druskininkai and 19 in Nida. The company’s portfolio comprises 273 apartments in Vilnius, 57 in Druskininkai and 8 in Nida.
