Ogmios Group was founded by a group of young entrepreneurs who had just graduated from higher education institutions. Although the economic context was particularly unfavourable right after Lithuania’s independence was restored, they managed to establish in business.
They tried different fields, yet commercial real estate proved to be the most successful area. Real estate and its lease became the principal business activity of Ogmios Group.
The first significant achievements are related to the initial conversion of the former Car Repair Factory. This factory was turned into Ogmios Prekybos Miestas.
The Group decided to develop commercial real estate lease business and acquired a number of former industrial objects to be converted in Vilnius and other large Lithuanian cities.
In addition, new big shopping malls were built: the centre of interior and finishing materials Domus Galerija with an office building Domus Centras in Vilnius, multifunctional shopping malls Babilonas 1 and Babilonas 2 in Panevėžys, and Bruklinas in Šiauliai.
The global economic crisis significantly affected Lithuania’s economy and particularly the real estate sector. Lease income dropped by 40%, compared to the pre-recession results.
Nevertheless, Ogmios Group managed to focus, reorganise its business and fulfil its obligations to banks.
The successful Domus Galerija object was sold, opening financial opportunities for the development of the Ogmios Miestas project.
In the period of three years reconstruction of the 20 ha territory absorbed investments of almost EUR 30 million.
The purpose of this object is to demonstrate our approach to a harmonious urban-architectural environment. We create public spaces and adapt them to people, focus on green areas and revive old buildings while preserving their valuable features.
We are striving to create a modern city where people feel good.
Ogmios Miestas has become a favourite place for Vilnius residents. We are very proud and pleased with this achievement.