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Friday, 26.04.2024, 18:40
EUR 106.5 mln loan for construction of Akropole shopping center in Riga largest in SEB’s history
Total investments in construction of the Akropole shopping center are
planned at EUR 177 million, and the loan from SEB Banka represents 60 percent of the total costs. Previously the
largest loan issued by SEB Banka was
EUR 100 million to Rigas Satiksme, the municipal company providing public
transport services in Riga.
Ints Krasts, a board member of SEB
Banka, said Akropole will be the first shopping and entertainment center to
be developed in Riga over the last nine years. The loan agreement with the
developer, Akropolis Group, was being
negotiated for nearly two years, and the loan terms represent a commercial
secret.
The new shopping center will be opened in 2019. It will have a floor space
of 98,000 square meters, including 9,000 square meters of upper class officers,
a movie theater, a skating rink, restaurants and a bowling hall.
At the end of September this year, SEB
Banka was the second largest bank in Latvia in terms of assets.
The new shopping mall in Riga will be part of Akropolis Group - the Lithuanian company that runs a number of
shopping centers in Lithuania, Latvia, Estonia and Bulgaria.