Litvalda to invest €20m into new Kaunas shopping center

Litvold has purchased the former Merkurijus shopping center site on Laisvės avenue in Kaunas for €4.5m from the liquidator of its previous owners, Homburg Merkurijus. Litvalda plans to invest €20m into the site's redevelopment, which is to include the construction of a new shopping center as well as office and residential buildings. The site was previously granted planning permission, said Zenonas Meškauskas, head of the Litvalda group of companies. "We do not envisage radical changes in the project," he said. "We will continue to build the supermarket according to the existing project and construction permit with corrections dictated by current market needs."