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Baltic Sea Properties will expand business park in Klaipėda FEZ

26 Oct 2023

Publicly listed Baltic Sea Properties has recently entered into a land lease agreement with the Klaipėda Free Economic Zone (FEZ). This strategic partnership will facilitate the expansion of Klaipėda Business Park by up to 16,000 sqm in two phases over the coming years. The planned expansion will extend the 24,000 sqm integrated park complex’s total leasable area to over 40,000 sqm.

First established in 2003, Klaipėda Business Park (“Klaipėdos Verslo Parkas”) is the leading business park in Western Lithuania, with more than 30 companies leasing production, logistics, commercial, and office space in flexible units ranging from 50 to 8,000 sqm.

“We are happy to announce our expansion plans for Klaipėda Business Park, while also celebrating 20 years of cooperation with Klaipėda Free Economic Zone. Our strategy is to grow with our clients in a long-term partnership, and we look forward to providing additional high-quality serviced space for their business,” commented James Andrew Clarke, Chairman of The Board of Baltic Sea Properties.

The development of Klaipėda Business Park will be carried out in two stages. The company is currently starting to prepare the technical project of the facility. The company does not publicly state the size of the investment, but it will be one of the most significant recent development projects for customers of the Klaipėda FEZ.

According to Klaipėda FEZ manager Eimantas Kiudulas, Baltic Sea Properties has been offering its clients the opportunity to grow their business in one of the largest business communities in Western Lithuania for the third decade.

“We are happy about this 20-year-long strategic partnership with Klaipėda Business Park, which has led to 3 completed development stages and is starting two new ones today. Klaipėda Business Park successfully complements the strategies of flexibility, rapid establishment and development of Klaipėda FEZ, and the implemented development project will offer even more quality diversity to existing and new investors”, says E. Kiudulas.

Baltic Sea Properties, the owner and manager of Klaipėda Business Park, is listed on the Oslo Stock Exchange and is a major real estate developer and investor in the Baltic region.

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