“LORDS LB” CONCLUDES A CONSTRUCTION CONTRACT WORTH EUR 76.8 MILLION WITH AS “UPB” FOR THE CONSTRUCTION OF THE 1ST ROUND OF THE “PRESS HOUSE QUARTER” round construction. The agreement envisages the construction of a modern Class A office building and a multifunctional center with retail and catering premises, green terraces and the first football pitch on the roof in the Baltics, with a special focus on sustainable, nature- and urban-friendly solutions. The construction costs of the first phase are estimated at 76.8 million euros.
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Lords LB Special Fund V enters into a construction contract with AS UPB for the construction of the 1st phase of the Press House quarter
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The term of the first phase of construction – 24 months
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The amount of the concluded construction contract is 76.8 million euros
The new Press House Quarter will be located in Riga In a mile of knowledge In Pardaugava, former publishing houses Press House in the territory of Balasta dambis 2. In addition to the office and multifunctional center buildings, the project also envisages large green areas and recreation areas, as well as infrastructure specially adapted for pedestrians and cyclists. The construction works are expected to be completed within 24 months after receiving the building permit.
In the first phase of the project 25 000 m2 designed for Class A offices and 40 000m2 – creation of multifunctional premises (commercial premises, 1000 above-ground parking lots and various recreation areas).
Giedrius Bernotas, Lords LB Special Fund V Representative of the Foundation: “This is a very important moment Press House Quarter team. Together we have done an excellent job, so we did not doubt that the construction of the quarter should be entrusted to a company with an impeccable professional reputation. Press House Quarter The project has been developed by an international team of three outstanding architectural firms, so I am pleased that we have agreed on cooperation with UPB, which can be proud of the implementation of several excellent world-class construction projects. As a result, it will become one of the most modern and environmentally friendly business districts in Riga. ”
Member of the Board of UPB Uģis Grīnbergs: “UPB has strong competence in the construction of technologically complex buildings in Latvia and abroad, and the developer evaluates it as a guarantee of safety and stability for the implementation of this project. Press House Quarter will allow us to prove our in-depth knowledge and experience accumulated over 30 years, especially in the implementation of full-cycle projects, construction of high-rise buildings and other areas. UPB’s advantage in the implementation of such large-scale projects is also the internal capacity of our group of companies – from design to production, delivery, assembly and service of building structures. ”
In the Press House quarter special attention will be paid to energy efficiency, the choice of environmentally friendly materials, the availability of the environment, the creation of a healthy working environment and sustainable management. Adjacent to Class A office space that will meet the BREEAM certificate Excellent standard and where workplaces for about 2,500 people are planned, there will also be co-working rooms, a dining area, shops, bicycle storage, 1,000 parking lots, electric car charging stations, walking areas and terraces with greenery.
ARHIS ARCHITECT the host Andris Kronbergs: “We are pleased that with the signing of this construction contract, the practical implementation of one of the great urban planning ideas of the city of Riga – opposite the historical center of Riga and Old Riga on the left bank of the Daugava – will continue. , cultural, business and residential as well as public functions.
Its development and implementation has already begun. Complexes of the University of Latvia, Riga Technical University, RISEBA University, Riga Stradins University are being formed, the National Library has been built and it is hoped that other cultural objects of national significance will appear in this area, such as the National Concert Hall and others.
I would like to emphasize and express my satisfaction that thanks to the great work, understanding, goals and ideals of the client, working together in a great international team of architects and engineers, we have managed to develop and maintain ideas that were and are embedded in the development concept of this area. Some of the most important of these are multifunctionality, intensive development of public outdoor space, promotion of waterfront and waterfront use, urban integrity and involvement.
I hope and believe that with the implementation of the first development phase of the project and especially with the next development phase and the development of adjacent territories, Kipsala South End Business Center will become not only a sign for Riga’s development and dynamics, but also a popular and actively used place. All the preconditions for that are. ”
Press House Quarter the project was developed by an international team of top-level architects. ARHIS ARCHITECT from Latvia, under the direction of architect Andris Kronbergs, KSP Jürgen Engel Architects from Germany as well Arrow Architects from Denmark.
Lords LB Special Fund V is managed by an investment management company licensed by the Bank of Lithuania Lords LB Asset Management, which has been providing services to both institutional and private investors since 2008. In total, the company currently manages 15 funds: 12 real estate funds, two private equity funds and one energy and infrastructure fund. Lords LB Asset Management The total value of assets under management at the end of December 2020 was EUR 648.9 million.
UPB Group is one of the largest industrial groups in the Baltics, whose main field of activity is the construction of complex buildings, including their design, production, delivery, installation and service of building materials. The advantage of the group of companies is the ability to provide integrated solutions in the field of glass, metal, concrete structures, as well as energy and mechanical engineering, while also offering digital solutions in the construction industry.
The largest UPB groups are MB Betons Group, RK Metāls Group, AILE Group, UPB Energy Group and UPB Nams Group. UPB Group currently has more than 1,900 employees. UPB companies and their production network cover the entire territory of Latvia, and the covered production areas reach more than 62,000 m2.
Lords LB Special Fund V
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