Vilnius Gates to become a technology business hub

The Vilnius Gates complex on Gynėjų Street in the Lithuanian capital will by early 2018 become a base for eight information technology businesses. In the middle of this year, several INVL Technology companies operating in the capital will move into Vilnius Gates: Etronika, FINtime, BAIP, NRD CS, NRD and Acena. Two more, Algoritmų Sistemos and Profectus Novus, will join them in early 2018.

“The next several years will be a period of active growth for INVL Technology’s businesses. Working side by side, they’ll be able to carry out multifaceted projects, bringing clients added value and the opportunity to deal with multiple project partners in one place,” said Kazimieras Tonkūnas, Managing Partner for UTIB INVL Technology at INVL Asset Management. He noted that one of INVL Technology’s unique features is its ability to combine experience and competences to implement large-scale innovative projects.

INVL Technology’s businesses will further benefit from having, together at Vilnius Gates, BAIP’S 24/7 systems monitoring centre and service request management centre, coordinating services in nine countries, and NRD CS’s Cybersecurity Incident Response Team (NRD CIRT). And clients will have the convenience of being able to discuss ongoing projects in one place. The site will host meetings and presentations, conferences and workshops.

Some 250 employees of INVL Technology companies will work in the modern premises at Vilnius Gates, with the possibility foreseen to increase the number of workplaces to 300. The new premises for INVL Technology companies operating in Vilnius were chosen after a tender.

“We’re pleased that after this round of leasing the part of the Vilnius Gates complex which the company owns will become a sort of Fintech and high-tech hub in the capital city, gathering the most innovative businesses and nearly half a thousand highly skilled employees under one roof,” said INVL Baltic Real Estate’s Investment Manager Egidijus Damulis. “The location of the premises makes the business centre easy to get to from many places in the city centre – on foot and by public transport as well as by bicycle or using a ride service, thus gradually getting away from cars. We hope this sort of responsible and ecological lifestyle will soon become as common in Vilnius as it is in Amsterdam, Copenhagen or Oslo,” Damulis added.

It’s calculated that after one of Swedbank non-financial service unit divisions sets up at Vilnius Gates early this year and these eight other companies move in by early 2018, occupancy for the part of the complex which INVL Baltic Real Estate owns at Vilnius Gates will be nearly 80 per cent. The ‘Rise Vilnius’ innovation and IT startup space has been based here since mid-2016.

INVL Baltic Real Estate manages 58,000 sq. m. of real estate at strategically attractive locations in Vilnius and Riga valued at EUR 52 million: office and commercial premises at the Vilnius Gates complex in the Lithuanian capital, the IBC Business Centre near Konstitucijos Avenue, office buildings in the Old Town on Vilniaus Street and in Šiaurės Miestelis, office and warehouse premises in Kirtimai, and the Dommo Business Park manufacturing, warehouse and office complex beside the Riga bypass. Since 22 December 2016, INVL Baltic Real Estate has operated as a closed-end investment company (UTIB).

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