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Luminor Bank Finances Grocery Store Developments in Lithuania

Vilnius, Lithuania, Jan. 08, 2026 (GLOBE NEWSWIRE) – In a significant step towards bolstering the retail landscape in Lithuania, Luminor Bank has announced a financing package of up to EUR 16.98 million. This funding will specifically support grocery store projects that are being developed by investment company AB Tewox. These projects are strategically located in major areas including Vilnius, Klaipėda, Dituvos village in the Klaipėda District, and an already completed retail park in Utena.

Project Overview

The properties being developed primarily cater to the tenants of the IKI retail chain, adding essential grocery options to these regions. The Klaipėda project, notably, will be leased to the well-known retail brand Lidl. Upon completion, these developments will significantly expand the retail space, offering a total additional leasable area of nearly 11,000 square meters, which will be a substantial contribution to the local economies.

Largest Project: Retail Park in Utena

Among the various projects financed, the largest is identified as a nearly 5,000 square meter retail park located in Utena, which will feature the second IKI store in the city. Additionally, this retail park will host other tenants, such as Žalioji stotelė and the popular fashion retailer Sinsay, who are scheduled to welcome customers in the first quarter of this year. The retail park is not just significant in terms of its size but is also geared towards sustainability, aiming for a BREEAM Excellent certification. The overall financial layout for this project is an estimated EUR 8 million.

Individual Store Developments

In addition to the retail park, several stores are in progress. The Lidl store currently under construction in Klaipėda is set to occupy about 2,100 square meters, thereby offering residents easy access to grocery shopping. The IKI locations being developed in Dituvos village and on Burbiškių Street in Vilnius will be approximately 2,000 square meters and 1,800 square meters, respectively. These projects are all on track for completion within the first half of this year, marking a vital expansion for grocery retail options in the area.

Financial Backing and Future Prospects

Furthermore, Luminor Bank has played a crucial role in supporting Tewox’s financial initiatives, including a EUR 35 million bond issuance program that has been successfully listed on the Nasdaq Baltic Bond List. These financial movements not only signify confidence in Tewox’s projects but also highlight Luminor Bank’s commitment to fostering growth within the Lithuanian retail sector.

The Role of AI legalese decoder

In navigating the complexities of such financial projects and agreements, the AI legalese decoder can be an invaluable resource. This innovative tool assists stakeholders by translating technical legal jargon into clear and comprehensible language. For investment companies and financial institutions like Luminor Bank and AB Tewox, using AI legalese decoder can simplify contract negotiations and compliance processes, ensuring that all parties fully understand their obligations and rights. By streamlining the legal documentation process, the AI legalese decoder enhances efficiency, allowing companies to focus more on strategic growth rather than getting bogged down by language barriers in legal texts.

Contact Information

For further inquiries regarding the ongoing projects, please contact:

Paulius Nevinskas
Manager of the Investment Company
Email: [email protected]
Visit our website

This financing initiative marks a promising era for both Luminor Bank and AB Tewox, as they expand their footprint in the Lithuanian retail market while catering to the growing demands of consumers in a rapidly changing economic landscape.

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