Tewox Expands Retail Presence with New Park Development

Author: Addison Perry Updated: 04-08-2025 09:30 AM

Exciting New Retail Park Development

The real estate landscape in Lithuania is about to receive a significant boost with the recent announcement from AB Tewox. This special closed-end real estate investment company has engaged in a general contracting deal with UAB Baltijos Pašvaist? for a new retail park project. This development will cover an extensive area of approximately 5,000 sqm, marking a notable addition to Utena's commercial offerings.

Strategic Location and Planning

Situated at Kupiškio st. 50, the new retail park is strategically located to attract shoppers and enhance accessibility for local residents. The planning discussions have confirmed that more than 50% of the retail space has been leased, which includes a partnership with the anchor tenant. This early sign of interest showcases the project's potential to thrive. As construction gears up in the coming weeks, the local community and stakeholders are eager to see progress unfold.

Projected Timeline for Completion

With construction anticipated to kick off soon, AB Tewox is targeting to complete the retail park by the end of 2025. This timeline is critical, as the project aims to open its doors in time to serve the bustling holiday shopping season. Given the strong pre-leasing activity, the early completion could provide significant benefits to both the investors and the local economy.

Impact on Local Economy

Developments like this do not merely expand retail space; they create job opportunities, stimulate local commerce, and enhance the overall quality of life in the region. The establishment of this retail park is expected to draw in more visitors, not just from Utena but from surrounding areas as well. Such investment in the local infrastructure and retail landscape is crucial in today's competitive market.

Contact for More Information

For those interested in additional details about this project, please reach out to the following contact:

Paulius Nevinskas
Manager of the Investment Company
Email: paulius.nevinskas@lordslb.lt

Frequently Asked Questions

What is the planned size of the new retail park?

The new retail park will cover approximately 5,000 sqm.

When is the construction expected to begin?

Construction is scheduled to start in April and is projected to complete by the end of 2025.

Which company is collaborating with AB Tewox on this project?

AB Tewox is partnering with UAB Baltijos Pašvaist? for the development of the retail park.

How much of the retail space has already been leased?

More than 50% of the gross leasable area has already secured lease agreements.

Who can I contact for further questions regarding the project?

You can reach out to Paulius Nevinskas, the Manager of the Investment Company, for more information.

About The Author

Hello, I'm 30-year-old financial writer and expert Addison Perry, and I love to simplify the intricacies of the financial industry. I've committed myself over the years to deciphering the subtleties of investing techniques and economic trends and converting them into doable guidance that anybody can use. My goal with writings and books is to make money interesting and approachable so that readers may take charge of their financial futures.

My enthusiasm to empowerment and education has propelled me through my career in finance. I write because I think that everyone should be able to make educated financial decisions, and I try to provide that. Regardless of experience level with investing, my work is intended to provide insightful analysis and practical advice to enable you to thrive in the always changing financial environment. I appreciate you traveling with me toward success and financial literacy.

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