UAB “Kvartalas“ Publishes Interim Financial Statements for the Six-month Period Ended 30 June 2026
UAB “Kvartalas“ (hereinafter – the Company) publishes interim financial statements for the six-month period ended 30 June 2026.
The main activity of the Company is real estate development and construction. The Company owns a commercial land plot of 64.3 a at Konstitucijos ave. 14A, Vilnius. The property has been developed as an office building with over 19,000 sq.m. of aboveground gross building area, the architectural concept of which was selected in March 2022 in an international architectural competition. A building permit was obtained in October 2023 and construction works started in January 2024, and on 10 March 2026 100% completion of the building was registered in the Register of the Real Estate.
Key events during First Half-Year 2026
- On 28 January 2026, UAB “Kvartalas” distributed bonds with a nominal value of EUR 9,391,300 to finance the development of business centre “Sąvaržėlė”.
- On 10 March 2026, 100% completion of the building developed by the Company, located at Konstitucijos ave. 14A, Vilnius, was registered in the Register of Real Estate.
- On 14 May 2026, a remote meeting of bondholders was held, at which a resolution to increase the bond issue from EUR 50,000,000 to EUR 60,000,000 was adopted and approved.
- On 18 May 2026, UAB "Kvartalas" signed a lease agreement with UAB "Omnisend". Following this transaction, the occupancy rate of the business centre "Sąvaržėlė" reached 67%.
Key events after the end of the First Half-Year 2026
- On 9 July 2026, UAB “Kvartalas” distributed bonds with a nominal value of EUR 5,000,000. The funds received were used to finance the remaining costs related to the project.
- On 11 August 2026, UAB “Kvartalas” distributed bonds with a nominal value of EUR 1,000,000. The funds received were used to finance the remaining costs related to the project.
- On 25 August 2026, UAB "Kvartalas" signed a lease agreement with UAB "Paroc". Following this transaction, the occupancy rate of the business centre "Sąvaržėlė" reached 73%.
- On 10 September 2026, UAB “Kvartalas” distributed bonds with a nominal value of EUR 1,000,000. The funds received were used to finance the remaining costs related to the project.
From the start of the project until 30 June 2026, EUR 78.3 million have been invested in the development of the business center "Sąvaržėlė". Total nominal value of issued bonds to finance the development reached EUR 50 million by 30 June 2026.
LTC (Loan to Cost) ratio as of 30 June 2026 was 63.19%.
For more information:
Director of UAB “Kvartalas“
Marius Žemaitis
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