Realtus will construct leisure type apartments in Palanga (LIT)

The company Realtus, which belongs to the largest construction and real estate company group in Lithuania, has started the construction of a new low-rise complex of leisure type apartments Vanagupes Namai in Palanga. The total investment will amount to €20 million (LTL 70 million).

The area of the apartments in the designed three-storey buildings with a penthouse is from 23 to 54 m² and the total price for such an apartment with a full high quality finish will be from €45 000 and more than half of the apartments will cost less then €60 000. Seeking to satisfy a high level of demand in private apartments of such type near the sea and having assessed the responses of our clients of another, already implemented project in Zveju street, we will enable even average-income families to purchase a comfortable and modern apartment near the sea. We receive the greatest number of inquiries about such apartments from middle-age people and also from young families raising children who appreciate family values and the quality of life, are willing to invest into ecological and comfortable recreation and at the same time want to acquire immovable property near the sea whose value will remain high for a long time said Jonas Radeckas, Director General of the company.

To satisfy the needs of the residents, it is planned to arrange playgrounds for children and leisure zones within the territory of the buildings. All apartments will have a balcony or a loggia glassed using the unframed glass structures. The upper floor apartments will have spacious terraces. Advanced technological solutions will be applied in the premises allowing to feel safe and convenient and making apartment operating costs small. According to Jonas Radeckas, Director of the company, the main advantages of this project are a reasonable price and a quiet and convenient location in Palanga at a distance from a busy and noisy centre of the town, but at the same time the values pursuing which a person will decide to purchase an apartment here: the quietness, sea, dunes and pine woods are within arms reach.

Being only a few minutes from the sea and relatively close to the town centre, the new project will continue the development of a promising Vanagupe district where a number of luxurious cottages and private houses, a five star hotel and a multi-profile health centre Linas are already located.

168 apartments will be built during the first stage and it is planned to finish this construction stage on June 2007. The general contractor for the construction of the complex will be chosen in the nearest future and the bank Nord/LB will finance the acquisition of these premises and offer special credit terms and conditions for the clients.

Source: Realtus

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