Technopolis, Lithuania’s largest business park, is set to open a new office building in Vilnius. The rapidly expanding Technopolis is currently home to six office buildings, with the seventh one, Penta, currently under construction. An eighth building is also in the works. If everything goes according to plan, Technopolis will be able to provide businesses with 100,000 sq.m. of space to rent by 2020.
With Technopolis rapidly expanding, the number of companies working there is also on the rise. Alongside its largest resident companies – Western Union Processing Lithuania, SEB Bank, the Lithuanian branch of Barclays Group Operations Limited, and DXC Technology – 35 smaller businesses have recently set up shop there. These include players in the fields of IT, game development, construction, law, financial consultancy, communications, advertising and others.
“Our main goal is ensuring that the business park is open not only to foreign investment giants, but also to small and medium-sized companies, too. Given this outlook, the building is conceptually suited for today’s fast-paced business environment. For example, companies can start off with three employees and expand to 10 within a month. This is especially relevant for foreign investment in the form of FinTech and GameDev businesses coming to Lithuania, a few of which we have recently accommodated,” reports the business park’s country Managing Director in Lithuania, Lina Maskoliūnienė.
Moreover, the new buildings are expected to house a wide range of service-based companies. These could provide accountancy, consultancy, education, translation and many other services to businesses already operating within the park.
“Until now, Technopolis has lacked free space dedicated to service companies: a preschool, a higher education institution, a recruitment agency, a medical centre. Thus, with the new buildings we want to focus on creating this kind of infrastructure,” says Lina Maskoliūnienė.
Alternative energy projects are also part of the plan for the business park. One of the buildings already features a rooftop solar system. The project was initiated by Modus Energy, a resident business that has recently opened an office in Technopolis.
As of now, Technopolis houses around 5,400 employees, but this number should rise to 8,300 once the new buildings are finished.
Technopolis business park in Vilnius: