Home » World » In the second quarter, 297 fewer building permits were issued than last year :: Dienas Bizness

In the second quarter, 297 fewer building permits were issued than last year :: Dienas Bizness

SIA “Hanzas 14”, which belongs to the SBA investment management company “Capitalica Asset Management”, has signed an agreement with the construction company “Merks” on the construction of the business complex “Verde”.

The value of the concluded contract for two construction phases exceeds 48 million euros.

“The international general company tender announced at the beginning of the year attracted a lot of attention from the construction market participants. We set very high quality requirements for the tender participants and carefully evaluated all submitted offers, taking into account the unique business center architectural, technical and engineering solutions. “With extensive experience in the construction of exclusive buildings, the project will be implemented smoothly and qualitatively,” says Andrjus Barštis, head of the Verde project developer, SBA investment management company Capitalica Asset Management.

He informs that construction of “Verde” will begin in July. The first stage includes the construction of an office building and an underground parking lot with a total area of ​​29.5 thousand square meters. The first round of works is planned to be completed in 2022. The start of the second phase of construction will be decided within 12 months from the date of signing the contract. The second phase includes the construction of an office building with a total area of ​​15.6 thousand square meters. The whole complex is planned to be completed in 2023. In total, more than 65 million euros will be invested in the project.

Class A two business center complex “Verde” will be located in the center of Riga on an area of ​​1.3 ha in a perspective Skanstes district. Heritage protection requirements for new buildings, especially high-rise buildings, are very strict. The new business center complex has been designed and will be built in accordance with these requirements, while combining modern architectural solutions, energy sustainability and engineering innovations.

“Riga does not currently have a rich offer of high-end business centers. Therefore, we consider the opportunity to participate in the implementation of this impressive project to be the highest assessment of our competence and experience. Our company’s vision is reliable solutions and high-quality implementation of ideas. “We will start the preparatory work in the near future,” says Andris Bišmeistars, Member of the Board and Construction Director of “Merks”.

The business center was designed by the famous Latvian architect Andris Kronbergs, the technical project was prepared by the architectural firm “Arhis Arhitekti”.

Capitalica Asset Management manages Capitalica Baltic Real Estate Fund I, which is the sole owner of SIA Hanzas 14.

According to audited data, Capitalica Baltic Real Estate Fund I’s profit in 2019 was 4.4 million euros.

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