Ogmios Centras starts construction BABILONAS 2 (LI)

Construction of the second stage of BABILONAS started on the 26th of October. The interior and leisure center BABILONAS 2 will occupy 19.000 sqm and will consist of furniture, interior accessories, decoration materials, consumer electronics, sports, leisure, and household goods shops.

The opening of the interior decoration and leisure center BABILONAS 2 is scheduled for autumn 2007. The architect of the complex together with the developer created the center to be comfortable for its visitors: retail units, showrooms, entertainment & catering units and service units will be arranged near each other with maximum convenience to the visitor of the shopping center.

BABILONAS 2 will be complemented with two office buildings (up to 12 floors) later on.

The biggest project (up to 250.000 sqm; upon completion) in Panevezys and Northern Lithuania (with approx. 230.000 inhabitants) - city within the city BABILONAS - is being developed by Ogmios Real Estate Group on a 56 ha site. It will consist of 3 shopping centers, office buildings, entertainment zones, a multi-industry district with separate warehousing and production buildings, car retail and service square and a residential district.

The shopping center BABILONAS 1 (26.500 sqm; stage 1 of the entire project) was acquired by Dawnay Day Carpathian, PLC (UK), the company investing into high quality real estate in Central and Eastern Europe.

Estimating the advantages, the strategic location of BABILONAS was noted first of all. BABILONAS is located by the Via Baltica highway connecting Vilnius (Lithuanian capital) and Riga (Latvian capital), it is easily reached both by the inhabitants of Panevezys and by visitors from other districts. Another important criterion that settled the choice of Dawnay Day Carpathian, PLC is that BABILONAS has splendid opportunities of growth. After completion of BABILONAS 2 the retail scheme will be the biggest in the region with 45.500 sqm.

Source: Ogmios Real Estate Group

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