{"id":15001,"date":"2022-01-03T14:15:00","date_gmt":"2022-01-03T12:15:00","guid":{"rendered":"https:\/\/www.invaldainvl.com\/?p=15001"},"modified":"2022-01-03T17:10:22","modified_gmt":"2022-01-03T15:10:22","slug":"invl-baltic-real-estate-presents-design-proposals-for-reconstruction-of-an-office-building-in-the-vilnius-old-town","status":"publish","type":"post","link":"https:\/\/www.invaldainvl.com\/en\/group-company-press-releases\/invl-baltic-real-estate-presents-design-proposals-for-reconstruction-of-an-office-building-in-the-vilnius-old-town\/","title":{"rendered":"INVL Baltic Real Estate presents design proposals for reconstruction of an office building in the Vilnius Old Town"},"content":{"rendered":"\n<section  class=\"invl-block invl-block-1-columns invl-columns\">\n\t\t\t\t\t<div class=\"column column-1-of-1 c-white padding-top-00 padding-left-40 padding-right-30\" >\n\t\t\t\t\t\t<p>The real estate investment company INVL Baltic Real Estate has submitted design proposals prepared with the design firm Viltekta for reconstruction of the administrative building at Palangos Street 4 \/ Vilniaus Street 33 in the Lithuanian capital, for consideration by the Vilnius City municipality. A public presentation of the project will be held on 20 January.<\/p>\n<p>\u201cI am confident that together with Viltekta we\u2019ve found the best solutions for renovating the Communications Palace. Our plan is for the complex\u2019s above-ground floorspace to increase by some 3600 sq. m. following the reconstruction. We want to develop an exclusive property that can meet modern business needs and to give the city\u2019s residents the gift of a new gathering point with much more greenery, tidying up the buildings\u2019 landscaping and a section of Palangos Street,\u201d said Vytautas Bak\u0161inskas, the real estate fund manager at INVL Asset Management, which manages INVL Baltic Real Estate. Once the design proposals are approved and other project coordination procedures are done, he added, work on the technical design for the reconstruction will begin.<\/p>\n<p>Construction of the current building as per architect Justinas \u0160eibokas\u2019s design was completed in 1978. The design proposals for its reconstruction were prepared by his son, architect Julius \u0160eibokas, together with the design firm Viltekta. According to the author of the proposals, the former Communications Palace, also known by its creator as the Automatic Telephone Exchange, was planned as a hub of development for the emerging modern technology of the time \u2013 communication by telephone. It symbolized a gathering point and discussion spot: it was a place for people to meet and interact, to call other cities around the country and the world.<\/p>\n<p>\u201cAlready in 2012, with the building\u2019s architect Justinas \u0160eibokas, we drafted initial design proposals for reconstruction of the Communications Palace complex to enable proper adaptation of its A and B corpuses for contemporary needs. Since the A corpus\u2019s original purpose was to house telephone equipment, it did not need a lot of windows; we plan to increase their number significantly and thus adapt the space to the needs of modern administrative buildings,\u201d architect Julius \u0160eibokas said of the project.<\/p>\n<p>According to Viltekta CEO, architect Tomas Segalis, in working on the design proposals, the architects searched long and responsibly for the best ways to upgrade the building and its environs while maintaining the original architectural character of the Communications Palace.<\/p>\n<p>\u201cIt is very important to us to preserve the property\u2019s valuable features, particularly attending to the quality of the architecture, which the complex\u2019s location in the Old Town of Vilnius demands. In developing the design proposals, we\u2019ve paid great attention to the complex\u2019s public spaces \u2013 after the reconstruction they will be completely renovated. In place of the above-ground car parks and on part of the roof of the buildings, modern green spaces and recreation areas are planned,\u201d he noted.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-14991 size-large\" src=\"https:\/\/www.invaldainvl.com\/wp-content\/uploads\/2021\/12\/Rysiu_rumai2-1024x1024.jpg\" alt=\"\" width=\"1024\" height=\"1024\" srcset=\"https:\/\/www.invaldainvl.com\/wp-content\/uploads\/2021\/12\/Rysiu_rumai2-1024x1024.jpg 1024w, https:\/\/www.invaldainvl.com\/wp-content\/uploads\/2021\/12\/Rysiu_rumai2-300x300.jpg 300w, https:\/\/www.invaldainvl.com\/wp-content\/uploads\/2021\/12\/Rysiu_rumai2-150x150.jpg 150w, https:\/\/www.invaldainvl.com\/wp-content\/uploads\/2021\/12\/Rysiu_rumai2-768x768.jpg 768w, https:\/\/www.invaldainvl.com\/wp-content\/uploads\/2021\/12\/Rysiu_rumai2.jpg 1500w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-14993 size-large\" src=\"https:\/\/www.invaldainvl.com\/wp-content\/uploads\/2021\/12\/Rysiu_rumai3-1024x683.jpg\" alt=\"\" width=\"1024\" height=\"683\" srcset=\"https:\/\/www.invaldainvl.com\/wp-content\/uploads\/2021\/12\/Rysiu_rumai3-1024x683.jpg 1024w, https:\/\/www.invaldainvl.com\/wp-content\/uploads\/2021\/12\/Rysiu_rumai3-300x200.jpg 300w, https:\/\/www.invaldainvl.com\/wp-content\/uploads\/2021\/12\/Rysiu_rumai3-768x512.jpg 768w, https:\/\/www.invaldainvl.com\/wp-content\/uploads\/2021\/12\/Rysiu_rumai3.jpg 1500w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-14995 size-large\" src=\"https:\/\/www.invaldainvl.com\/wp-content\/uploads\/2021\/12\/Rysiu_rumai4-1024x683.jpg\" alt=\"\" width=\"1024\" height=\"683\" srcset=\"https:\/\/www.invaldainvl.com\/wp-content\/uploads\/2021\/12\/Rysiu_rumai4-1024x683.jpg 1024w, https:\/\/www.invaldainvl.com\/wp-content\/uploads\/2021\/12\/Rysiu_rumai4-300x200.jpg 300w, https:\/\/www.invaldainvl.com\/wp-content\/uploads\/2021\/12\/Rysiu_rumai4-768x512.jpg 768w, https:\/\/www.invaldainvl.com\/wp-content\/uploads\/2021\/12\/Rysiu_rumai4.jpg 1500w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-14997 size-large\" src=\"https:\/\/www.invaldainvl.com\/wp-content\/uploads\/2021\/12\/Rysiu_rumai5-747x1024.jpg\" alt=\"\" width=\"747\" height=\"1024\" srcset=\"https:\/\/www.invaldainvl.com\/wp-content\/uploads\/2021\/12\/Rysiu_rumai5-747x1024.jpg 747w, https:\/\/www.invaldainvl.com\/wp-content\/uploads\/2021\/12\/Rysiu_rumai5-219x300.jpg 219w, https:\/\/www.invaldainvl.com\/wp-content\/uploads\/2021\/12\/Rysiu_rumai5-768x1053.jpg 768w, https:\/\/www.invaldainvl.com\/wp-content\/uploads\/2021\/12\/Rysiu_rumai5-1120x1536.jpg 1120w, https:\/\/www.invaldainvl.com\/wp-content\/uploads\/2021\/12\/Rysiu_rumai5-1493x2048.jpg 1493w, https:\/\/www.invaldainvl.com\/wp-content\/uploads\/2021\/12\/Rysiu_rumai5.jpg 1500w\" sizes=\"auto, (max-width: 747px) 100vw, 747px\" \/><\/p>\n<p><em>INVL Baltic Real Estate owns real estate in Vilnius and Riga: office buildings in the Old Town of the Lithuanian capital on Vilniaus Street and in \u0160iaur\u0117s Miestelis, and the Dommo Business Park manufacturing, warehouse and office complex beside the Riga bypass. Occupancy of the company\u2019s properties at year-end was 98% to 100%.<\/em><\/p>\n<p><em>INVL Baltic Real Estate\u2019s current asset holdings have an area of 26 000 sq. m. and a value of EUR 24.1 million.<\/em><\/p>\n<p><em>Since its launch as a collective investment undertaking (on 22 December 2016), INVL Baltic Real Estate has been one of the Baltic real estate funds open to retail investors with the highest stable returns. The fund operates as a closed-end investment company. Management of the company has been assumed by INVL Asset Management, one of Lithuania\u2019s leading asset management firms. The company will operate as a closed-end investment company until 2046, with extension possible for a further 20 years.<\/em><\/p>\n\t\t<\/div>\n\t<\/section>\n","protected":false},"excerpt":{"rendered":"<p>The real estate investment company INVL Baltic Real Estate has submitted design proposals prepared with the design firm Viltekta for reconstruction of the administrative building at Palangos Street 4 \/ Vilniaus Street 33 in the Lithuanian capital, for consideration by the Vilnius City municipality. A public presentation of the project will be held on 20 January.\u00a0<\/p>\n","protected":false},"author":2,"featured_media":14989,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[14],"tags":[],"class_list":["post-15001","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-group-company-press-releases"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>INVL Baltic Real Estate presents design proposals for reconstruction of an office building in the Vilnius Old Town - Invalda INVL<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.invaldainvl.com\/en\/group-company-press-releases\/invl-baltic-real-estate-presents-design-proposals-for-reconstruction-of-an-office-building-in-the-vilnius-old-town\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"INVL Baltic Real Estate presents design proposals for reconstruction of an office building in the Vilnius Old Town - Invalda INVL\" \/>\n<meta property=\"og:description\" content=\"The real estate investment company INVL Baltic Real Estate has submitted design proposals prepared with the design firm Viltekta for reconstruction of the administrative building at Palangos Street 4 \/ Vilniaus Street 33 in the Lithuanian capital, for consideration by the Vilnius City municipality. A public presentation of the project will be held on 20 January.\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.invaldainvl.com\/en\/group-company-press-releases\/invl-baltic-real-estate-presents-design-proposals-for-reconstruction-of-an-office-building-in-the-vilnius-old-town\/\" \/>\n<meta property=\"og:site_name\" content=\"Invalda INVL\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-03T12:15:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-03T15:10:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.invaldainvl.com\/wp-content\/uploads\/2021\/12\/Rysiu_rumai1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"1050\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"aleksandra\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"aleksandra\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.invaldainvl.com\/en\/group-company-press-releases\/invl-baltic-real-estate-presents-design-proposals-for-reconstruction-of-an-office-building-in-the-vilnius-old-town\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.invaldainvl.com\/en\/group-company-press-releases\/invl-baltic-real-estate-presents-design-proposals-for-reconstruction-of-an-office-building-in-the-vilnius-old-town\/\"},\"author\":{\"name\":\"aleksandra\",\"@id\":\"https:\/\/www.invaldainvl.com\/#\/schema\/person\/806fc15b421f8f8836444d215490f495\"},\"headline\":\"INVL Baltic Real Estate presents design proposals for reconstruction of an office building in the Vilnius Old Town\",\"datePublished\":\"2022-01-03T12:15:00+00:00\",\"dateModified\":\"2022-01-03T15:10:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.invaldainvl.com\/en\/group-company-press-releases\/invl-baltic-real-estate-presents-design-proposals-for-reconstruction-of-an-office-building-in-the-vilnius-old-town\/\"},\"wordCount\":18,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.invaldainvl.com\/en\/group-company-press-releases\/invl-baltic-real-estate-presents-design-proposals-for-reconstruction-of-an-office-building-in-the-vilnius-old-town\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.invaldainvl.com\/wp-content\/uploads\/2021\/12\/Rysiu_rumai1.jpg\",\"articleSection\":[\"Group company press releases\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.invaldainvl.com\/en\/group-company-press-releases\/invl-baltic-real-estate-presents-design-proposals-for-reconstruction-of-an-office-building-in-the-vilnius-old-town\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.invaldainvl.com\/en\/group-company-press-releases\/invl-baltic-real-estate-presents-design-proposals-for-reconstruction-of-an-office-building-in-the-vilnius-old-town\/\",\"url\":\"https:\/\/www.invaldainvl.com\/en\/group-company-press-releases\/invl-baltic-real-estate-presents-design-proposals-for-reconstruction-of-an-office-building-in-the-vilnius-old-town\/\",\"name\":\"INVL Baltic Real Estate presents design proposals for reconstruction of an office building in the Vilnius Old Town - 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