Šiaulių bankas will finance almost LTL 12 million investments of “Viremida Group”


Šiaulių bankas will provide financing to “Viremida Group”, UAB owned companies, which are planning to implement new projects in the real estate and construction fields. The bank’s total amount lent for investments of this group of companies comprises LTL 12 million.

“The recession in the real estate and construction sector was a big challenge for companies operating in these sectors. Enterprises, which were capable to flexibly react to the business environment changes, to ensure the continuity of activity and save their specialists, have favorable starting points to start a new growth stage and increase the market share. We welcome that Šiaulių bankas supports our development strategy and offers financial decisions adapted to our activity. Recovering market is dynamic, thus, wishing to use the opportunities, the efficiency and flexibility are required: we are pleased to note that we have found a financial partner, the activity model of which possesses these features”, says Šarūnas Butkus, the Director of “Viremida Group”, UAB.

According to Šarūnas Butkus, the funding provided by Šiaulių bankas allowed to optimize the financial structure of the group of companies by evaluating foreseen investments into business development. Group of companies ensured financing of foreseen long-term projects and solved financing of working capital that is necessary for implementation of new construction contracts. According to the entrepreneur the foreseen investments will allow to increase the market share, expand the geography of activity and create the opportunity to start projects of bigger volume.

“Despite the fact that after the recession construction and real estate companies are still cautious, but the situation is changing, business environment is improving and the activity in the market starts growing. We appreciate and stimulate the dynamic activity of the group of companies “Viremida Group”. We welcome that real estate developers actively react to the market changes and generate the perspective ideas”, says the Head of Klaipėda region of Šiaulių bankas Gražvydas Šimkus.

The companies belonging to the group of companies “Viremida Group” are planning to use the financing of Šiaulių bankas for expansion of activities in the fields of real estate projects development and construction projects management.

The companies of “Viremida Group” control land plots in the strategic locations of Klaipėda city, where it is foreseen to develop commercial real estate projects adapted to clients’ needs. The group of companies, which is located in Klaipėda performs construction projects not only in the Western Lithuania, but also in the whole territory of Lithuania. Starting from 2010 the group of companies started construction service export to Scandinavian markets.