We advised real estate development company Darnu Group on a construction work agreement with UAB Naresta for the sixth stage of Paupys district.
Darnu Group is starting on the last construction work
The sixth block of Paupys was designed by Kančo studija architects Gustė Kančaitė and Kęstutis Kajokas. Most of it (over 11,200 sq. m) will be a residential area, while over 1,600 sq. m will be dedicated to commercial premises located on the first floors of the buildings.
Says Povilas Urbonavičius, the Darnu Group construction and development manager: “All Paupys planned projects are moving forward fast. Three residential areas are already built, two more will be finished this year and offices, cafes and other services are being developed in the commercial and residential areas. Now we are starting on the last construction work.”
Our services and team
The client was advised on all legal issues related to conclusion of the construction work agreement and represented in negotiations by counsel Simonas Skukauskas.
Investment in the conversion project of Paupys district – over 150 million euros
Paupys is being developed in Vilnius Old Town over an area of 7 hectares. It is considered one of the largest conversion projects in Lithuania and is included in the strategic plan of Vilnius City Municipality Architektūros parkas. Darnu Group is investing over 150 million euros in the conversion project of Paupys district. Our team advised Darnu Group on all legal issues including the acquisition of shares in the subsidiary Naujasis Užupis, the development of Paupys and the conclusion and completion of related agreements.