Finland-based construction engineering company YIT has been awarded a general contract for the office, sales, and warehouse project Urban HUB in Vilnius, Lithuania.
Awarded by Lithuanian real estate development and investment company SBA Urban, the value of this contract is estimated at €23m ($25m).
Go deeper with GlobalData
Construction works are scheduled to begin this month and are anticipated for completion in mid-2024.
YIT will register this project in the order bookings of this year’s third quarter.
Urban HUB will feature a total leasable area of approximately 22m². The facility will provide adaptable storage, a showroom, and office spaces suitable for a diverse range of tenants involved in the e-commerce, retail, wholesale, and logistics markets, among other enterprises.
The hub is expected to obtain an A++ energy efficiency rating and BREEAM In-Use Excellent environmental certification.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe project comprises 340 parking spots, 68 of which are reserved for electric vehicles and are equipped with charging stations.
In May this year, the company signed a general contract with SBA Urban for the first stage of the Urban HUB Kaunas project in Lithuania.
Last week, YIT and the municipality of Siilinjärvi in the country entered an agreement to build and maintain two life cycle concept schools. The value of the contract is estimated at €73m.
