The project is slated for completion in 2027, with the initial phase, comprising 16,500 square metres, expected to open by summer 2025. Impressively, 75% of the first-phase spaces have already been leased or reserved.

Mangirdas Sapranauskas, Head of Business at Go Vilnius, the official tourism and business development agency of the city of Vilnius, highlighted the significance of the new technology hub for all of Northern Europe. “Tech Zity not only puts Vilnius on the tech map, but it also has the potential to become a hotspot for the regional startup ecosystem. It marks a new stage for the development of the innovation district in Vilnius. This hub, where companies from different industries can interact, is sure to foster new creative solutions. We hope to see it become a meeting place for innovators and creatives from across the region,” he said.

The first of three phases will transform three courtyards and old factory buildings into modern offices, a conference centre, a sports and wellness club, a restaurant, and coworking spaces. Upon final completion in 2027, Tech Zity Vilnius will accommodate up to 5,000 workers.

"The Lithuanian startup ecosystem is growing very rapidly, so we want to create a new home for it. It took us more than two years to go from the idea to the start of work, requiring not only our team's efforts but also institutional support. I have no doubt that Tech Zity Vilnius will contribute to strengthening the competitiveness not only of Vilnius but of all Lithuania. There are not many such projects in Europe," said Darius Žakaitis, co-owner of Tech Zity Vilnius.

The first Tech Zity Vilnius tenants will include one of Lithuania's most successful startups, Omnisend, the climate technology startup HeavyFinance, the educational innovation creator Turing College, and the game developer studio Pepi Play. Negotiations have also concluded with the game developer studio TutoTOONS.

"We are currently working with tenant teams to coordinate their interior projects. We are also planning the logistics of the conference centre and finalising our partners for the restaurant and bar courtyard. We are developing an unconventional wellness and sports club concept," said D. Žakaitis.

Tech Zity Vilnius will feature a conference centre with four spaces capable of accommodating up to 1,000 participants, seven different restaurants, cafes, and bars. Tech Zity Vilnius will also include coworking, education, and sports spaces.

Tech Zity, the company behind the project, has signed a general contract with the construction company Gilesta, which won the tender and will carry out the construction work for 23 million euros. The work is already underway and is expected to be completed between May and July 2024. The total investment in the project will amount to 100 million euros.