Zabolis Partners, the veteran investment group in the New Nordic region, is bringing a sustainable vision to transforming Vilnius’ Central Business District (CBD) into a vibrant urban hub. With its real estate unit, Releven, the investment company is focusing on urban regeneration through high-quality developments in prime locations in downtown Vilnius.
To date, Releven has acquired four prime Vilnius CBD land plots, including more than half of the district’s undeveloped land, and laid out a five-year plan for the development of 200,000 sqm of premium projects. In parallel, it has begun work on a flagship residential and office mixed-use initiative.
“We are excited to begin executing on our sustainable vision, transforming our Central Business District into a 15-minute-City, combining places for living, working, services and leisure. After Covid, we bring a fresh response to the evolving needs of Europe’s increasingly sophisticated, international, environmentally-aware workforce,” commented Saulius Merkys, Releven’s managing director.
“In Vilnius, as in urban centres throughout Europe, people are looking to live in safe, nurturing and tranquil community environments without sacrificing a walkable/bikeable commute, plentiful green space and convenient access to shopping and recreation. Our projects will facilitate the emergence of these hubs by creating a mix of elegant low and high-rise residential buildings, premium office space, service provision and protected green areas – all just steps from Vilnius’ busy city centre.”
Releven’s flagship project, located at Lvivo 59, is a 55,000 sqm sustainable micro-city community on a hectare of land in Vilnius’ northwestern quadrant, adjacent to one of the capital’s central boulevards. Designed by leading architects, sociologists and city planners, the project aims to create a sense of quiet and community within the city centre, attracting residents of all ages – from high-tech singles to growing families and retirees – by offering convenience, functionality, beauty and safety. The company is exploring new, sustainable construction possibilities, including on-site energy generation and utilizing wooden construction.
In light of the current record deficit of housing in Vilnius, Releven is planning the construction of up to 400 flats at the site. Up to two-thirds of the projected units are to be for rent, professionally managed by companies specialising in the private rental sector. All residential properties in this complex will become the first to be BREEAM certified as sustainable buildings.
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