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The agreement envisages the construction of a 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.
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The new Press House quarter will be located on the Riga Knowledge Mile in Pārdaugava, in the territory of the former publishing house “Preses nams” in Balasta dambis 2. In addition to office and multifunctional center buildings, the project also envisages green areas and recreation areas. The construction works are expected to be completed within 24 months after receiving the building permit.
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In the first phase of the project, 25,000 square meters are planned for Class A offices and 40,000 square meters for the creation of multifunctional premises – commercial premises, 1,000 above-ground parking lots and various recreation areas.
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According to the developer’s representatives, the Press House quarter will pay special attention to energy efficiency, the choice of environmentally friendly materials, the availability of the environment, the creation of a healthy work environment and sustainable management. In addition to the Class A office space, which will meet the BREEAM certificate “Excellent” standard and will provide work for about 2,500 people, there will also be common areas, a dining area, shops, as well as bicycle storage, 1,000 parking spaces, electric car charging stations, walking areas and terraces. with greenery.
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Andris Kronbergs, the head of “Arhis arhitekti”, expressed satisfaction that with the signing of this construction contract the practical implementation of one of the big urban planning ideas of Riga – opposite the historical center of Riga and Old Riga, on the left bank of the Daugava – will continue. fulfillment in educational, cultural, business and residential as well as public functions.
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The project of the press house quarter has been developed by an international team of architects – “Arhis arhitekti” from Latvia, “KSP Jürgen Engel Architekten” from Germany, as well as “Arrow Architects” from Denmark.
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It is planned to invest more than 200 million euros in several stages of the Press House quarter project.
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Lords LB Special Fund V is managed by Lords LB Asset Management, an investment management company licensed by the Bank of Lithuania, 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. The total value of assets managed by Lords LB Asset Management at the end of December 2020 was 648.9 million euros.
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According to preliminary data, the turnover of the construction and industrial group “UPB” in 2020 was 237 million euros, which is 11.3% more than in 2019. UPB’s turnover in 2019 was 183.765 million euros, which is 9.6% more than in 2018, while UPB’s profit decreased by 8.7% to 8.734 million euros. At the same time, UPB’s consolidated turnover in 2019 was 213 million euros, compared to 190 million euros a year earlier.
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UPB Group is one of the largest industrial groups in the Baltic States, whose main field of activity is the construction of complex buildings, including their design, production, delivery, installation and service of building materials.
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