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International Internet Magazine. Baltic States news & analytics Friday, 10.04.2020, 06:09

Estonian, Latvian developers to invest EUR 40 mln in new office building in Riga

BC, Tallinn, 26.02.2020.Print version
Estonian and Latvian property developers Novira Capital and Regals Nami will invest about 40 mln euros in a seven-story office building in Riga, reported LETA.

Regals Nami commercial director Janis Brants told the Latvian news agency LETA that the project belongs to the Latvian and Estonian developers.

"We bought this land plot 16 years ago for implementation of the project, and now implementation of it has started," Brants said.

The seven-story building will have a floor space of about 30,000 square meters, including 20,000 to be rented to offices, and 3,500 square meters on the first floor will be rented to different stores. The location of the building at the crossing of Marijas and Satekles Streets has one of the biggest pedestrian flows in the Baltic states -- about 50,000 people a day.

The architect of the project is Dace Putnina from BB Studija, while interiors were designed by Estonian architect Meelis Press. 

Estonian company L1LV has a 50% holding in Regals Nami. One of the board members at Regals Nami is Novira Capital's leading partner Arle Molder.

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