{"id":5068,"date":"2026-08-10T11:22:18","date_gmt":"2026-08-10T08:22:18","guid":{"rendered":"https:\/\/www.sirin.eu\/?p=5068"},"modified":"2026-08-10T11:26:23","modified_gmt":"2026-08-10T08:26:23","slug":"sirin-development-increases-revenue-by-15-8","status":"publish","type":"post","link":"https:\/\/www.sirin.eu\/en\/sirin-development-increases-revenue-by-15-8\/","title":{"rendered":"SIRIN Development Increases Revenue by 15.8%"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Logistics real estate developer SIRIN Development reports that in 2025 it achieved \u20ac26.7 million in consolidated rental revenue, representing a 15.8% increase compared to 2024. In the first half of 2026 alone, the company generated \u20ac14.8 million in revenue.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Verslo \u017einios<\/em> notes that SIRIN Development is part of the Willgrow Group, owned by entrepreneurs Mindaugas Raila and Edvardas Liachovi\u010dius, and is therefore not required to submit consolidated financial statements to Lithuania&#8217;s Centre of Registers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to information provided by the company to <em>Verslo \u017einios<\/em>, net profit amounted to nearly \u20ac46.27 million in 2025, compared to \u20ac50.63 million in 2024. The largest share of net profit is attributable to changes in the value of investment property, which are recognised as income. This amounted to \u20ac34.8 million in 2024 and \u20ac61.05 million in 2025, respectively.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Laurynas Kuzavas, CEO of SIRIN Development, told <em>Verslo \u017einios<\/em> that he did not wish to disclose the company&#8217;s construction costs. However, earlier this year the company announced that it had invested \u20ac23.7 million in Lithuania, \u20ac11 million in Latvia and \u20ac0.7 million in Estonia in development projects during 2025. For 2026, SIRIN Development plans to invest \u20ac61 million across the three Baltic States.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to Mr Kuzavas, the company completed 42,000 sq. m of logistics space in 2025 and plans to deliver 86,000 sq. m of warehouse space in 2026.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Compared to the same period last year, SIRIN Development&#8217;s revenue for January-June increased by 17.5%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">During the first half of 2026, SIRIN Development achieved almost 80% of its leasing result for the entire previous year. While 59,400 sq. m were leased in 2025, the company had already leased 47,000 sq. m during the first six months of 2026.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to Mr Kuzavas, the most significant projects launched during the first half of the year included a 13,500 sq. m operations centre for parcel delivery company Venipak and the signing of a 4,700 sq. m lease agreement with Estonian food industry company Karisma Food.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In addition, Lithuanian laser technology company Litilit established its operations in SIRIN PARK Gari\u016bnai, where an automated 4,400 sq. m femtosecond laser manufacturing facility is expected to operate.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Verslo \u017einios<\/em> previously reported that Araneta, a furniture retailer operating under the Bald\u0173 turgus brand, acquired a 16,000 sq. m facility in the Kaunas Free Economic Zone (FEZ) from SIRIN Development. The property, built by SIRIN Development in 2024 and previously occupied by Araneta, includes warehouse, office and showroom premises.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">SIRIN Development&#8217;s portfolio currently comprises 11 logistics parks in Vilnius, Kaunas, Riga and Tallinn. The company currently manages 504,000 sq. m of logistics and industrial real estate and aims to expand this portfolio to 1 million sq. m across the Baltic States by 2030.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Logistics real estate developer SIRIN Development reports that in 2025 it achieved \u20ac26.7 million in consolidated rental revenue, representing a 15.8% increase compared to 2024. In the first half of 2026 alone, the company generated \u20ac14.8 million in revenue. Verslo \u017einios notes that SIRIN Development is part of the Willgrow Group, owned by entrepreneurs Mindaugas [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":5067,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_members_access_role":[],"_members_access_error":""},"categories":[5],"tags":[],"class_list":["post-5068","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SIRIN Development Increases Revenue by 15.8% - Sirin<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.sirin.eu\/en\/sirin-development-increases-revenue-by-15-8\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SIRIN Development Increases Revenue by 15.8% - Sirin\" \/>\n<meta property=\"og:description\" content=\"Logistics real estate developer SIRIN Development reports that in 2025 it achieved \u20ac26.7 million in consolidated rental revenue, representing a 15.8% increase compared to 2024. 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