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The received financing will be invested by JSC “PN Project”, which was established directly for the implementation of the project, for the construction of a Class A office center in the amount of 26.5 thousand. square meters in Kipsala. The building is part of the plans for the 1st phase of the large-scale “Press House Quarter” project.
“The Class A office center is an important part of the project, creating a future financial and innovation center in the heart of Riga’s Knowledge Mile. “Other services, as well as upgraded infrastructure in accordance with the principles of universal design, especially for cyclists and pedestrians, will improve the quality of life in the city,” comments Giedrjus Bernots, a spokesman for Lords LB Asset Management. Giedrius Bernotas).
The office center is designed in accordance with the almost zero energy building standards (NZEB) and the level of the BREEAM sustainable construction standard “Excellent”; it will become a significant addition to the Class A office market in Riga. Investments in the quarter will promote the improvement of the territory and further Kipsala and the rebirth of Pardaugava, becoming the central business district of Riga.
“This is the first NIB-funded BREEAM standard building in the Baltics. This project will not only promote the construction of environmentally friendly buildings in the region, but will also serve as an example to inspire other companies to strive for higher levels of energy efficiency and office comfort,” chairman and chairman Andre Kīsveks (André Küüsvek).
The construction of the 1st stage office building of the “Press House Quarter” is the first cooperation project between NIB and “Lords LB Asset Management”.
This is one of the largest development projects in the city of Riga this decade, it will have a positive impact on the lives of local people and promote the competitiveness and international recognition of the Latvian capital, said Vaidas Žagūnis, Member of the Board and Head of Corporate Banking in the Baltics.
The construction of the office center started in 2021, and it is planned that the construction of the first phase of the quarter will be completed in 2023, developing not only a Class A office center, but also a multifunctional center for 40 thousand people. square meters, where there will be retail, fitness, sports and medical services, as well as a large dining area and a parking lot with 1,000 spaces.
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