Merko recognized for the best residential real estate project in Lithuania and the best real estate project of the last 13 years
For 14 years, the Lithuanian Real Estate Development Association (LNTPA) and the Academy of Sustainable Development have held a competition that is likened to Lithuania’s “Real Estate Oscars”. The award for the best residential real estate development project in 2021 went to Merko’s Vilnelės slėnis, located in Vilnius. A Merko PPP project, Balsiai School, received a special award – the “best of the best” real estate project.
Recognized as the best residential real estate development project in 2021, Vilnelės slėnis (Lithuanian: ‘Vilnelė valley’) is located on the border of the Old Town and a natural area near a unique architectural park initiated by the Vilnius City Government. It boasts 221 apartments with spacious balconies in six 4-6-storey apartment buildings.
“Vilnelės slėnis was one of the first projects whose construction gave impetus to the rebirth and growth of the Markučiai area. The area is now a lively part of Vilnius – Manufaktūrų Street has been reconstructed, walking and cycling paths have been built here, and new sports and leisure areas have emerged. We are pleased to see this land along the Vilnelė River and the forests of Belmontas becoming an increasingly attractive living environment,” said Saulius Putrimas, General Manager of UAB Merko statyba.
Developed as a PPP project, designed and built by Merko and currently maintained and managed by the company, the Balsiai school received a special gold award at the competition – the “best of the best” real estate project in the period 2007-2020. The entrants in this new award category had to have won the main prize in the past and also maintained a very high standards of maintenance during their time in operation.
Balsiai School is one of the first successful public-private partnerships in Lithuania. In addition to design and construction, Merko also handled the entire school’s furnishings, from benches and blackboards to kitchenware.UAB Merko statyba will handle maintenance of the school until 2035, after which it will hand over the building to the municipality free of charge. “Visitors to the school find it hard to believe that these interiors, where almost a thousand children study, run and play every day still have such a high-quality appearance,” said Saulius Putrimas.
Residential, commercial, multifunctional and public real estate projects all vied at the competition. All projects were adjudicated by a nine-member panel from the Lithuanian Builders’ Association, banks, Vilnius Gediminas Technical University, the Ministry of the Environment, Vilnius City Government, the Lithuanian Real Estate Development Association and the media. The chairman of the committee, Mindaugas Statulevičius, said he was pleased that competitive advantage and the need for sustainable development are becoming the norm for many Lithuanian real estate developers.