Latvia, Real Estate

The auction was organized by bailiff Rolands Veinbergs and the building’s starting price was EUR 3.2 mln. The auction took place from May 23 to June 22.

Proceeds from the auction went to Estonia’s Eesti Krediidipank. Earlier, Homburg Zolitude representative Ruta Grikamne told LETA that the bank, most probably, has decided to look for a new investor and that Homburg Zolitude was unable to influence that as it had lost any possibilities to decide on the building’s development and future.

Eesti Krediidipank has claimed the real estate owned by Homburg Zolitude, the developer of the whole project at 20 Priedaines Street, which also includes the collapsed Maxima supermarket and the adjacent apartment building.

As reported, local residents and relatives of the victims of the Zolitude tragedy said from the very beginning that the apartment house has to be demolished and replaced with a memorial square honoring the people who lost their lives in the store collapse disaster.

Several successive roof cave-ins in the building housing a Maxima supermarket in the Zolitude residential area in Riga occurred on November 21, 2013, killing 54 people, including three rescuers, and injuring dozens of other people. A criminal investigation has been started into the deadly accident which might have been caused by several factors, including errors in construction designs, neglect on part of the builders or the supermarket operator.