Rietumu Banka Fuels Sustainable Business Growth with €3.6 Million Loan for Versum Business Center in Riga
Riga, Latvia – In a significant move to bolster sustainable business infrastructure, Rietumu Banka has granted a €3.6 million loan to Ulbrokas Business Park,a subsidiary of the Estonian real estate firm Estmak Capital. The funding will support the progress of “Versum,” a cutting-edge business center located on Ulbrokas Street in Riga, designed to meet the growing demand for innovative and eco-friendly commercial spaces.
The first phase of the Versum project has already seen the construction of nearly 8,000 square meters of space, with tenants beginning to move in. The second phase, slated for completion in 2025, aims to expand the center’s offerings, solidifying its position as a hub for business development in the Latvian capital.
A Vision for Sustainability and Innovation
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Versum is more than just a business center; it’s a testament to modern, sustainable design. The building has achieved Class A energy efficiency standards and holds the internationally recognized BREEAM certification, underscoring its commitment to reducing environmental impact.Solar panels adorn the roof, while electric vehicle charging stations in the parking lot cater to eco-conscious users.
Jelena Buraja, Chair of the Board at Rietumu Banka, emphasized the project’s broader importance: “Rietumu Banka supports the development of such aspiring, innovative, and sustainable projects, which contribute not only to the ideas of the specific entrepreneur but also to the advancement of the city’s infrastructure and business environment as a whole.This project helps to create a modern environment in Latvia that complies with ESG principles and where companies can grow and strengthen their positions in the market.”
A Multifunctional Space for Modern Businesses
The Versum business center is designed to cater to a wide range of companies, from startups to international corporations. Its warehouse-office concept offers flexible layouts, allowing tenants to customize spaces for offices, sales halls, and warehouses under one roof. This multifunctional approach ensures efficiency and adaptability, meeting the diverse needs of modern businesses.
Tatjana Arkhipova, CEO of Estmak Capital, highlighted the project’s potential: “In total, we plan to invest around 20 million euros in the Ulbroka Business Park project.Our goal is to create a full-fledged, dynamic environment that allows companies to easily organise their daily processes and develop. We are glad that Rietumu Banka understood and appreciated the quality and growth potential of our warehouse-office complex.”
Strategic Location and Economic Impact
Versum’s location in a rapidly growing area of Riga, close to major transport highways, makes it an attractive choice for businesses seeking accessibility and connectivity. The project not only enhances Riga’s business infrastructure but also aligns with global trends toward sustainable development,attracting both local and foreign investors.
Key Highlights of the Versum Project
| Aspect | Details |
|————————–|—————————————————————————–|
| Total Investment | €20 million |
| Loan Amount | €3.6 million (provided by Rietumu Banka) |
| Phase 1 Completion | 8,000 square meters built, tenants moving in |
| Phase 2 Completion | Expected in 2025 |
| Sustainability Features| BREEAM certification, solar panels, EV charging stations, class A energy efficiency |
| Target Market | Startups, SMEs, international corporations |
A Commitment to the Future
both Rietumu Banka and Estmak Capital share a vision for creating sustainable value. Rietumu Banka, the largest Latvian capital bank, continues to support projects that align with ESG principles, while Estmak Capital prioritizes innovation and environmental sustainability in its developments.
As Versum takes shape, it stands as a beacon of modern business infrastructure, offering a dynamic and sustainable environment for companies to thrive. For more facts about the project, visit Versum’s official website.
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This article is based exclusively on information provided by Rietumu Banka and Estmak Capital.
Rietumu Banka Fuels Sustainable Business Growth with €3.6 Million Loan for Versum Business Center in Riga
Riga, Latvia – In a important move to bolster sustainable business infrastructure, Rietumu Banka has granted a €3.6 million loan to Ulbrokas Business Park,a subsidiary of the Estonian real estate firm Estmak Capital. The funding will support the progress of “Versum,” a cutting-edge business center located on Ulbrokas Street in Riga, designed to meet the growing demand for innovative adn eco-friendly commercial spaces. We sat down with Dr. Kristaps Zvejnieks, a leading expert in sustainable business advancement, to discuss the project’s meaning and its potential impact on Riga’s economy.
WELCOMING DR. KRISTAPS ZVEJNIEKS
Senior Editor: Dr. Zvejnieks, thank you for joining us today. The Versum project has been making headlines as a model of sustainable business infrastructure. What makes this project stand out in today’s business landscape?
Dr. Zvejnieks: Thank you for having me. Versum stands out because it embodies the future of business spaces—adaptability, sustainability, and innovation. It’s not just a building; it’s a dynamic ecosystem designed to adapt to the needs of modern businesses, from startups to multinational corporations. The integration of warehouse, office, and sales spaces under one roof is a game-changer for efficiency and operational fluidity.
THE VISION BEHIND VERSUM
Senior Editor: One of the key aspects of Versum is its multifunctional design. How does this approach benefit businesses, particularly in today’s fast-paced market?
Dr. Zvejnieks: The multifunctional design is a response to the evolving needs of businesses. Companies today require spaces that can adapt to changing demands—weather it’s scaling up operations, hosting client meetings, or managing logistics.Versum’s flexible layouts allow tenants to customize their spaces, ensuring they can operate effectively without the constraints of conventional office or warehouse setups. This adaptability is crucial for competitiveness and growth.
SUSTAINABILITY AT THE CORE
Senior Editor: Sustainability is a major focus of the Versum project. Could you elaborate on the features that make it a leader in eco-friendly commercial spaces?
Dr. Zvejnieks: Absolutely. Versum has achieved Class A energy efficiency and BREEAM certification, which are globally recognized benchmarks for sustainability. The use of solar panels reduces reliance on non-renewable energy, while EV charging stations encourage the use of electric vehicles. These features not only minimize the building’s environmental footprint but also align with the values of modern businesses and investors who prioritize ESG (Environmental, Social, and Governance) principles.
RIETUMU BANKA’S ROLE IN DRIVING INNOVATION
Senior Editor: Rietumu Banka’s €3.6 million loan was crucial for the project. What does this say about the bank’s commitment to sustainable development?
Dr. Zvejnieks: Rietumu Banka’s investment underscores its forward-thinking approach to finance. By supporting projects like Versum, the bank is not only fostering innovation but also contributing to the broader goals of sustainable urban development. This aligns with global trends where financial institutions play a pivotal role in driving projects that benefit both the economy and the habitat.
THE ECONOMIC IMPACT OF VERSUM
Senior Editor: Versum is located in a rapidly growing area of Riga.How will this project impact the local economy?
Dr. Zvejnieks: The strategic location of Versum,close to major transport highways,makes it an attractive hub for businesses seeking accessibility and connectivity. this enhances Riga’s appeal as a business destination, attracting both local and foreign investors.Additionally, the creation of modern commercial spaces will generate employment opportunities and stimulate economic activity in the region, contributing to the city’s overall growth.
LOOKING AHEAD: THE FUTURE OF BUSINESS SPACES
Senior Editor: What does the success of Versum mean for the future of business infrastructure in Latvia and beyond?
Dr.Zvejnieks: Versum sets a new standard for business infrastructure, demonstrating that sustainability and functionality can go hand in hand. Its success will likely inspire similar projects, not just in Latvia but across Europe. As businesses increasingly prioritize flexibility and environmental duty, we can expect to see more developments that integrate innovative design with sustainable practices.
A COMMITMENT TO THE FUTURE
Senior Editor: Lastly, what message does Versum send to the business community about the importance of innovation and sustainability?
Dr. Zvejnieks: versum is a clear signal that the future of business lies in creating spaces that are not only functional but also environmentally responsible. It encourages businesses to think long-term, integrating sustainability into their operations and contributing to a more resilient and dynamic economy. This is a win-win for businesses, the community, and the planet.
Senior Editor: Dr.Zvejnieks, thank you for sharing your insights on this exciting project. It’s clear that Versum is more than just a business center—it’s a blueprint for the future.
Dr. Zvejnieks: Thank you for having me. I’m excited to see how Versum will shape the future of business in Riga and beyond.
This interview is based on information provided by Rietumu Banka and Estmak Capital. For more details about the Versum project, visit Versum’s official website.