Eastern European Markets

Caverion Corporation, 28 November 2013

Caverion designs and installs building systems to office building in Vilnius, Lithuania

Caverion and company K29 have signed a contract for building systems design & installation for office building to be built in Vilnius. The contract covers the design and implementation of heating, ventilation, air conditioning, plumbing, sewerage, firefighting and building automation. The value of the contract is approximately EUR 4 million.

“The quality and sustainability of a building mainly depends on engineering solutions and high-quality building systems. Caverion has extensive experience and international competence in this field. That is why we have chosen Caverion as a subcontractor,” says Domas Kačinskas, Director of K29.

Business centre K29 will be built on the right bank of the river Neris. There will be 14250 square meters of office space for rent. The building will be surrounded by a green recreational zone. A parking lot with 560 spaces will be built around the building and in two underground storeys.

The work on the project has already been started. Installation work on the construction site is scheduled to begin in spring 2014. Project completion is scheduled for December of 2014.

The investor behind the project, K29, is a real estate fund Lords LB Baltic Fund II. The investment fund is managed by Lords LB Asset Management that is specialised in real estate and private equity investment strategies.

Illustration images of business centre K29 available for downloading here:

Additional information:
Egidijus Šydeikis, Managing director, UAB Caverion Lietuva, tel. +370 687 22029,

Caverion designs, builds and maintains user-friendly and energy-efficient building systems and offers industrial services. Our services are used in offices and retail properties, housing, public premises and industrial plants, among other places. We aim to be the number one building systems company in Europe. Our strengths include technological competence and customer-oriented service, covering all building systems throughout the life cycle of the property. Caverion was established through the demerger of building services and industrial services businesses from YIT Group in July 2013. Our revenue for 2012 amounted to approximately EUR 2.8 billion. Caverion has over 18,000 employees in 13 countries in Northern and Central Europe.

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