City within the city project Babilonas, Phase 2 in Lithuania is being built ahead of schedule (LT)

Ogmios centras, AB, one of the leading Lithuanian real estate developers, has announced that 87% of the 19,000 m² premises of Babilonas, Phase 2, a shopping center with a big entertainment zone, are leased out five months before the opening date. The opening is due on September, exactly two years after the first 30,000-m² Babilonas shopping center was opened. The total retail area will make 49,000 m².

Construction works have been 1 month ahead of the schedule, which is quite rare these days, especially in Lithuania where the construction market is booming and the local construction companies are not able to finish almost all of projects on time. The main construction part of the building was finished and celebration of erection of the crown took place earlier this month.

Babilonas city within the city project today is expanding in two directions at a time: shopping and entertainment and, at the same time, construction of the Business to Business part. The 80-ha territory of the Babilonas project allows Ogmios Real Estate to develop an entire district of the city.

Such B2B clients as Kesko Agro agricultural machinery and Cramo - the construction equipment rent company - are moving into Babilonas site in parallel to the development of retail area. The retail area will soon be strengthened with a 10,000-m² DIY store, construction of which is also under way.

In the next few years, Car Retail square and Residential district are to be built. All those functions will complete the new city.

Source: Ogmios

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