Our team advised Darnu Group on acquiring 8.3 hectares of land for the construction of residential buildings with commercial premises. The company plans to build approx 900 apartments on the site. Construction is expected to start in the second half of 2022.
This is one of the largest acquisition transactions of real estate for development purposes in Lithuania in recent years.
Sigita Survilaitė-Mekionienė, CEO of Darnu Group comments: “It is almost impossible to find large unique sites in Vilnius for development, and so, as we have already started the second half of the development of the Paupys project, we are extremely happy to have a new ambition. We plan to turn the area next to the Neris river and the forest into an exclusive neighbourhood with convenient public and recreational spaces, well-developed infrastructure, hiking and cycling trails, and essential daily services. When we come to a new district, we always look beyond the borders of our site – we will strive to create value and benefits not only for our future residents but also for the district community that has lived here for a long time.”
Our services and the project team
We advised the client on all legal and tax issues related to the transaction, including legal and tax due diligence, preparation of transaction documents and negotiations. Our team, led by counsel Simonas Skukauskas, consisted of senior associates Julius Raškauskas and Gerda Skirbutienė.