Construction, Good for Business, Latvia, Real Estate

International Internet Magazine. Baltic States news & analytics Thursday, 23.09.2021, 18:56

Lithuania's Capitalica selects local contractor for Riga office complex

BC, Riga , 26.10.2020.Print version
Capitalica Asset Management, an investment management company of Lithuania's SBA Group, has signed a 49-million-contract with Latvia's building company Velve for the construction of the Verde Riga business office complex in the Latvian capital, writes LETA/BNS.

Under the contract, the construction of the center is scheduled to begin in October and be completed by the end of 2023, the Lithuanian company said on Monday.


Capitalica Asset Management CEO Andrius Barstys said Velve had been selected from the five largest construction contractors in the Baltic states.


Capitalica said last week that was launching a public bond issue to raise up to 8 mln euros for the development of Verde Riga. The European Investment Bank (EIB) has provided a 22-million-loan for the project.

 






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