In the first days of June in Vilnius, Sidaronių Street, beside one of the largest Buivydiškės ponds, creative real estate projects’ development and placemaking company Citus is starting project Ežero Takais by CITUS. The sales team will launch the project on 3 June, and the principal construction operations commenced simultaneously. The apartments are planned to be handed over to the clients a little less than a year from now—in the third quarter of 2025.
The project’s owner, a closed-end fund Victory Development Venture, is planning to invest EUR 7.95 million in it. The fund management company Demus Asset Management has raised part of this amount, EUR 2 million, from informed investors.
“It’s no surprise that people seek to combine the sometimes hard-to-reconcile aspects – living in a location with well-developed urban infrastructure while enjoying nature. However, we are noticing that as technical requirements and quality of life continue to improve, clients are increasingly seeking attributes that reflect these improvements and higher levels of comfort in all projects. And they expect affordable prices as well. We are confident that this project has successfully combined all these desired features and will be appreciated by our clients,” says Mantas Galdikas, Director of Citus.
The project Ežero Takais by CITUS will be relatively small, comprising only 78 apartments. It will consist of two three-storey buildings with the highest energy class A++. All apartments in the project will be residential. The apartments will consist of 1-3 rooms and will be 25-69 sqm. The total area of the project will be about 4 870 sqm.
The most spacious 3-room apartments with an area of 52-69 sqm will account for over 40% of the total assortment; 2-room apartments with an area of 34-50 sqm will account for 53%. Therefore, the project should interest families looking for quality and comfortable housing.
The architecture of the buildings will feature luxurious finish touches: durable clinker and high-quality, ventilated 3D fibre cement facade finishes—design elements more commonly found in premium-class housing.
Another unique feature is the rich and abundant leisure infrastructure, which is not commonly found in conventional housing projects: on the basement floor of each building, there will be a fitness centre with its equipment, a children’s play area with a variety of attractions, an adult recreational area for table football, table tennis, darts, and a cinema auditorium, which will be equipped with a projector with a screen and loungers.
This leisure infrastructure will continue beyond the project. Ežero Takais by CITUS is being developed alongside the Buivydiškės pond, where a beach, a shoreline and a walkway to the pond are also planned for the recreation and leisure of future residents. The beach will have a pontoon footbridge, a water bicycle, a dressing cabin, sun loungers and benches.
“We envision the location of the project aligned with a concept of leisure. We live in a fast-paced world and realise that time is one of our most precious assets. For this reason, in the project Ežero Takais by CITUS, we are creating opportunities to enable residents to have enough activity possibilities in all seasons of the year from the comfort of their homes. During the warm season, the beach will be the centre of attraction, and indoor leisure activities will be the focus when the weather turns cold. Children and adults can spend quality time here, whether looking for active leisure activities or sports, watching football or basketball matches with their neighbours, etc. I believe that this will be an important aspect for families and the key to the success of the project,” emphasises the Director of Citus.
Buyers will also find other highlights standard to CITUS projects: a spacious and high-quality courtyard space with areas for children, a street gymnastics area for adults, a drinking water station, a bicycle washing station, abundant landscaping, etc. The area will be fenced and monitored by video surveillance cameras.
“This year, we are witnessing signs of recovery in the primary housing market and expect it to pick up in the middle of the year. The European Central Bank is expected to start reducing interest rates, making the conditions for home purchases more favourable. We estimate that around 10,000 buyers in Vilnius are waiting for an improvement in affordability. At the same time, around 20% of the capital’s supply is illiquid – around 1,000 homes have not found their buyers for two years or longer. That is why we are working to develop our assortment with desirable homes that meet buyers’ expectations. Due to the affordability vacuum created by the rising cost of housing finance, we see a clear need for economy-class housing; however, people’s expectations are high so that the project will have elements of quality and even prestige”, – says Galdikas.
The average sales price in the development, about EUR 3 025/sqm, will be lower than the average price of apartments in Vilnius, which is currently about EUR 3 380/sqm.
There are 59 overground parking spaces designed near the homes.
Projektavimo Sprendimai designed the Ežero Takais by CITUS units. In addition, the company designed some of the buildings of the neighbouring non-residential project Ežero Vilos, and some of the solutions will be incorporated into the new project, providing not only visual similarity but also quality and prestige.
Sidaronių Street is appealing and has great potential. Its location is close to Pilaitė, which gives residents and those planning to settle here convenient access to a wide range of shopping and entertainment venues. Furthermore, the popular Vilnius Outlet, the largest outlet centre in Northern Europe, and the nearby Western bypass(Vakarinis aplinkelis) provide easy access to the city.
This new part of Justiniškės district, situated behind the Western bypass (Vakarinis aplinkelis), near the edge of Buivydiškės, is changing rapidly, and it has become a popular choice for Vilnius residents. Until about five years ago, the picturesque Buivydiškės Manor area, with its seven ponds and forests, was just a patchwork of fields, and now new settlements are emerging. With over 550 dwellings already built here since 2016 and at least 1 100 more planned or under construction in the near future, Citus analysts estimate that property values here are on an upward trend.
In Vilnius, Citus also manages the projects Kaip Niujorke by CITUS and Mūnai by CITUS on Kareivių Street; the last apartments are remaining in the project Miško Ardai by CITUS. In Kaunas, the sales of the first stage of the project Radio City by CITUS are almost completed: the last 4 commercial spaces are left, and all lofts are sold. In Druskininkai, in the project Nemunas by CITUS, there are 35 vacant apartments out of 176 in the first part of the first stage. The company will soon present a new project in Nida.
Be the first to comment