GLIMSTEDT advised Vastint Lithuania on an agreement on construction of 55,000 sq. m Business Garden office park in Vilnius

Business Garden office park, which total area amounts to 55,000 sq. m, will be built in Vilnius Lazdynai district near the Lithuanian Exhibition and Congress Center (LITEXPO) by June 2021. The project’s developer the international real estate organization Vastint Lithuania has reached an agreement with Mitnija, the largest construction company in Lithuania, on the first stage of the project. GLIMSTEDT team advised Vastint Lithuania on all legal matters relating to the agreement.

Kęstutis Vedeckis, Managing Director of Vastint Lithuania, says that Business Garden Vilnius has been developed under an innovative business park concept of the Vastint group. “Using modern architectural and technological solutions, we will create convenient and healthy work spaces, and sustainable construction and energy efficiency solutions will significantly reduce the energy costs of the buildings. Also, in developing this project we ensured that the business park complies with LEED Platinum energy and environmental design requirements, so that people can enjoy a healthy and convenient work environment.”

The Business Garden Vilnius project has been developed under the Business Garden concept of the Vastint group. This will be Vastint’s sixth business park project in Europe adapted to the needs of large tenants, such as service centers, IT companies or large government institutions. GLIMSTEDT continues to provide legal support to Vastint Lithuania on legal matters relating to the development of the project.

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