H&M has chosen Gedimino 9 Shopping Centre for its store in Vilnius, Lithuania

2013 - 07 - 05

East Capital Baltic Property Fund II acquired Gedimino 9 in December last year. Immediately thereafter, planning of the commercial improvement and reshaping of Gedimino 9 shopping centre started with the view to create the no 1 shopping centre and meeting place in Vilnius. The opening of H&M is one of the most important and awaited events among all the planned changes. “We are targeting to make Gedimino 9 the most liked, lively and popular shopping centre among cosmopolitan and modern people in Vilnius“, says Biljana Pehrsson, head of Real Estate at East Capital.

Gedimino 9 shopping centre was opened in 2008 after a total redevelopment of the premises, a historical building that had previously housed the Vilnius Municipality. The shopping centre has an excellent location in the best part of Gedimino Avenue with a daily pedestrian footfall of more than 15,000. Anchor tenants include successful supermarket Rimi, Swedish fashion retailer Lindex, exclusive perfumery Douglas and very popular restaurants Studio 9 and Carre. East Capital Baltic Property Fund II will invest in the reconstruction of Gedimino 9 that will start in May and will be executed in phases with the grand re-opening in spring 2014.

“H&M‘s decision to open its store in Gedimino 9 is an important first step in the development and attractiveness of Gedimino 9. The shopping centre will be open during the whole construction period and we welcome our Gedimino 9 customers and visitors to closely follow and be part of the redevelopment of our shopping centre”, says Biljana Pehrsson.

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