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Start of construction works of residential building located in Vilnius

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AS Pro Kapital Grupp (hereinafter Pro Kapital) informs that the construction
works of a new residential building in Vilnius were started yesterday
(26.03.2015), based on the construction contract concluded between its
subsidiary Pro Kapital Bonum UAB and UAB Merko Statyba on 01.08.2014. 

As was informed with the stock-exchange release dated 04.08.2014 the subsidiary
company of the group Pro Kapital Bonum UAB concluded the construction contract
with UAB Merko Statyba for construction and design works of new residential
apartment building in Vilnius on 01.08.2014. The lump sum of the contract is 10
013 120 (2 900 000 EUR), excluding VAT. The building will be located in
Vilnius, Lithuania, in Saltiniu Namai residential building complex, which is
being developed by Pro Kapital. The new building will have in total 41
apartments, 3 commercial premises and net sellable area of 2679 m2. The planned
construction period is 15 months as of the start of the construction works. 

As of 25.03.2015 Pro Kapital Bonum UAB has signed 12 reservation agreements out
of 44 premises of the new building, corresponding to the pre-sale ratio of 30%
from the total sellable area. 

AS Pro Kapital Grupp CEO Paolo Michelozzi comment: "we are pleased with the
sales results of Saltiniu Namai project in Vilnius and the sales results of the
residential building we started to construct last year in February 2014. The
construction of that building has been completed and 16 units out of 19 units
have been presold. We have seen strong demand in the upper class residential
market in Vilnius and have therefore decided to go forward with construction of
yet another building in Vilnius”. 

After the completion of this new building the first phase of the development of
the Saltiniu Namai residential complex will be completed. The first phase of
the development of the Saltiniu Namai residential complex includes in total 200
apartments, 27 commercial premises and 11 cottages. There will remain still
unused development volume in the Saltiniu Namai residential complex in the
second phase of the residential area. 



Additional information:

Saltiniu Namai is a residential development project located in Vilnius Old
Town. The business plan for the Saltiniu Namai residential quarter foresees a
series of apartment buildings built in stages. The location is attractive for a
residential area: it is located right in the Old Town and enjoys a good access
both by cars and public transport. The creation of houses and cottages with
leisure, sports and commercial zones is a remarkable contribution to the
expansion of Vilnius city, where the conversion of abandoned industrial areas
is prominent. Currently four five floor buildings with attics, one six floor
building with attic and 11 private cottages have been built. Pro Kapital has
already built 159 apartments, 11 cottages and 24 commercial premises with
sellable area of 16 438 m2. Residents of Saltiniu Namai residential quarter are
already enjoying the private courtyard, finished landscape works and fully
equipped children‘s playground. 

Pro Kapital Bonum UAB is a company, which belongs 100% to PK Invest UAB. PK
Invest UAB is a 100% subsidiary of Pro Kapital Vilnus Real Estate UAB. Pro
Kapital Vilnius Real Estate UAB is a 100% subsidiary of AS Pro Kapital Grupp.
Pro Kapital Bonum UAB is the developer of the 44 unit building to be located in
the Saltiniu Namai project in Vilnius Lithuania. 


         Allan Remmelkoor
         Member of the Management Board
         Tel.: 6144 920
         Email: [email protected]