12/05/2026
Real estate (RE) services companies UAB “Centro kubas – nekilnojamasis turtas” and “1Partner LT”, operating under the same brand, surpassed EUR 1.5 million in revenue in 2025 and are planning further growth this year, while also linking greater opportunities to representing the international JLL brand.
In 2025, “Centro kubas” achieved a turnover of EUR 1.17 million, representing annual growth of 22.4%. Last year, “1Partner LT” generated revenue of EUR 337,975, which was 18.8% higher than the previous year.
Viktoras Račkovskis, CEO and main shareholder of the companies, told Verslo žinios that the financial results reflect several years of work.
“First and foremost – proper operational organization. For several years, we have consistently invested in process automation and developed systems for processing institutional data, standardized order management, and therefore can dedicate more time to the expert side of our work. Client trust is also growing, along with the number of clients,” he says.
According to the CEO, representing the international JLL brand is also delivering tangible results. This US-based real estate services company, headquartered in Chicago, has offices in 80 countries worldwide.
“The partnership opens doors for us that were previously more difficult to access. And most importantly, of course, people. Since it is very difficult to find qualified valuers, we deliberately decided to develop our own specialists and now have a team that is our greatest asset and competitive advantage,” says V. Račkovskis.
He explains that both companies are united by the same team, and the strategic goal is to gradually transfer valuation and brokerage activities to “1Partner LT”, established in 2019, while “Centro kubas”, as one of the oldest real estate service companies, would remain the manager of the brand in Lithuania.
Expectations for Further Growth
According to V. Račkovskis, almost all of “Centro kubas” revenue currently comes from valuation services.
“Our service portfolio includes several areas: real estate, movable property, and business valuation, as well as consulting. A new area we are expanding into is the development of IT solutions for the real estate sector. However, the core segment remains real estate valuation for collateral purposes, although in recent years we have observed faster growth in movable property and business valuation services due to increasing numbers of company restructurings and share sales,” he says.
The company’s CEO states that the real estate services sector clearly recovered in 2025 after the quieter 2023–2024 period.
“Interest rates eased, banks became more active in financing again, investment transactions revived, and people are making decisions regarding real estate more confidently. Naturally, the prices of our services in the market increased last year as well, but moderately – in line with the general dynamics of the service sector. Therefore, our growth was driven mainly not by price increases, but by a larger volume of work and more complex, higher value-added projects. At the same time, we feel that our market share is steadily increasing,” states V. Račkovskis.
Asked about expectations for financial results in 2026, he says he expects growth.
“We forecast approximately 8–12% growth for ‘Centro kubas’. We do not make sudden or unconsidered decisions, which is why our expectations are realistic. So far, everything is going according to plan – the team is growing, we are already running out of office space, and most likely this year we will move to larger premises. To be honest, we are more concerned about 2027, as we see extremely rapidly growing demand, and such periods are usually followed by a significantly calmer stage,” says V. Račkovskis.
He explains that if the economic situation were to cool suddenly, the volume of valuations would decrease – and this would be the main risk for the business he manages. He says the company is preparing in advance by expanding services into other fields and foreign markets.
Profitability Remains Challenging
Last year, “Centro kubas” earned a net profit of EUR 36,295, which was 38.8% higher compared to 2024. By the end of the year, the company had accumulated EUR 63,430 in retained earnings.
During the same period, “1Partner LT” earned a net profit of EUR 34,309, which increased 2.5 times year-on-year. The company’s retained earnings amount to EUR 62,264.
V. Račkovskis does not hide the fact that profitability in the real estate services sector is an extremely challenging metric.
“According to sector data, it usually fluctuates around 5–10%, meaning that any larger market fluctuation can have a strong impact. Therefore, maintaining profitability is only possible by working consistently in several directions at the same time. We are not afraid to choose more complex, higher value-added projects: business valuation, commercial real estate, or large complex valuations. We also manage costs carefully – every major investment must have a clear return logic,” he says.
The interviewee considers the increasingly complex regulatory environment and rising client expectations to be the main challenges.
“Valuers now operate under European and International Valuation Standards as required by the new Law on Mandatory Property and Business Valuation, which has introduced many changes and additional requirements. Increasing requirements from credit institutions and ESG standards also contribute. Clients expect shorter deadlines, more thoroughly substantiated reports, and digital solutions,” lists V. Račkovskis.
He adds that the valuation business is also facing the impact of artificial intelligence – posing a threat to the profession itself.
“This does not frighten us; it pushes us to improve and learn, although at the same time it requires constant investment,” says the CEO.
At the end of the year, “Centro kubas” employed 25 people, while “1Partner LT” had 10 employees.
The main shareholder of both companies is V. Račkovskis, while the remaining shares belong to other private individuals.
Read more in the Verslo žinios article.