Šiaulių Bankas will finance SBA’s commercial campus Urban HUB in Kaunas

Šiaulių Bankas has granted a long-term loan for 16.5 million EUR to SBA Urban, which is currently developing an office, warehouse, retail campus Urban HUB, in the Kaunas district. Financing will be used to promote the construction of the first stage of the project: 22,000 sq.m. of business space and infrastructure development. In three phases, the Urban HUB in Kaunas is expected to become the largest project of its kind in the Baltic States by 2027.

International companies interested in renting

“Our financial partners and investors have left us with a high level of confidence in the Urban HUB commercial campus project. This is a cooperation which allows us to maintain the maximum pace of construction – this means that Lithuanian and foreign capital companies will be able to start their business here in the spring of next year. We estimate that, during the first phase of the commercial campus, over 50 companies will open their doors, and about 100 companies will be launched by the time the whole project is completed,” said Giedrius Muliuolis, CEO of Urban HUB.

“I do not doubt that this project will attract much attention from businesses and residents. The advantages include convenient access, modern solutions, attractive business investments and concentrated services – it really should prove a formula for success which will drive much commercial activity and heighten the attractiveness of this commercial town,” said Rimvydas Mockus, Head of the Vilnius Region of Šiaulių Bankas.

It was previously announced that SBA Urban attracted its first investment of 11 million EUR from TABA Invest for Urban HUB. This fall, SBA Urban successfully issued bonds worth 8 million EUR.

The investment in the entire project will amount to 100 million EUR

According to G. Muliuolis, synergy of businesses in a strategic location in Lithuania is strengthened when thematic trade zones are developed.

“The Urban HUB should bring about interacting clusters of businesses – companies whose activities are related and which will have the opportunity to trade, display their products to customers, and establish an office and warehouse in the vicinity. The inner and outer avenues are already being developed into a leisure and sporting goods zone, children’s shops and activity spaces. Customers can easily reach the facility from the motorways adjacent to the site,” said Mr. Muliuolis.

According to G. Muliuolis, SBA Urban is already halfway through the first stage of construction. Already people driving along the country’s busiest highway can see the buildings being erected, and work has started on the internal alleys and access roads, as well as on the paving of the streets. The installation of the building’s accent facade and green panels should also be starting soon. The project will create over 70,000 sq.m. of business space, following an investment of over 100 million EUR. The first businesses are expected to start setting up in Urban HUB in Kaunas in the second quarter of 2024, and over 30% of the space has already been leased or reserved.

In parallel to the project in Kaunas, SBA Urban is developing a 20,000 sq. m. stock-office project in Vilnius.