In 2024, Darnu Group allocated EUR 37 million to the development of non-residential projects. The major part of these funds – EUR 29 million – was spent on the development of multifunctional shopping complexes Vilnius Business Park in the capital's Gariūnų and Ukmergės Streets. EUR 8 million was invested in the construction of the Rimi Lietuva logistics centre near Elektrėnai. At that time, EUR 13 million was allocated to residential construction, with EUR 12 million spent to complete the final phases of the Paupys conversion and EUR 1 million used for the start of the construction of the new Sakai district. An additional EUR 3 million was invested in acquiring land for future projects.
„Driven by market recovery and the strong interest of our clients in our projects, we plan to make significantly higher investments this year compared to last year. However, we are cautious about the real prospects, as the situation last year showed that the willingness to invest can be significantly impacted by the shadow of bureaucracy. With the coordination of projects dragging on in the corridors of state institutions, only EUR 53 million out of the planned EUR 80 million was invested in 2024,“ says Sigita Survilaitė, CEO of Darnu Group.
According to her, due to irrational bureaucratic delays in obtaining the building permit, Darnu Group only started construction of the new Sakai residential area near the Neris River at the end of the year. Delays by the Vilnius City Municipality in meeting deadlines also prevented the start of the Verslo Trikampis site conversion on Jasinskio Street in the central part of Vilnius. The project, which was planned to cost more than EUR 200 million, along with other projects, was hindered.
Most funds go to ongoing projects
„Despite all the obstacles, we remain committed to investing and delivering the projects we've planned. The sales results for the first block of the Sakai residential area near the river, which received its building permit at the end of last year, and the strong interest in the project are truly inspiring and drive us forward. In the first two months since the project's launch, 111 apartments – one third of the total – were purchased, nearly three times the sales rate of the entire high-end housing market in the capital,“ notes Survilaitė.
This year, the company plans to invest EUR 39 million in the construction of the Sakai project, which will be built on an 8-hectare site near the Karoliniškės Nature Reserve and the Neris River. The first phase is currently under construction, and preparations for the second phase are well underway, with work expected to begin in the second half of this year.
In the residential segment, the company also plans to invest EUR 9 million this year in Launagiai, a new 71-hectare district in the southern part of Vilnius. The funds will be used for preparatory work on the project, including land use planning documents, design, surveys, and studies.
Another significant portion of the investment will go toward the construction of Rimi Lietuva's main logistics centre near Elektrėnai, with EUR 41 million allocated this year for the project, which was launched at the end of last year. The project is anticipated to be completed by the middle of next year.
The remaining EUR 5 million will be invested by Darnu Group in the acquisition of new plots for future projects in the capital.
