Pārdaugava business district construction work set to start

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The developer of the Preses nama kvartāls project in Rīga, Lords LB Special Fund V, said March 15 it had signed a contract with sustainable urban development and construction company YIT Lietuva to build the first stage of a new central business district in Pārdaugava.

Under the contract, the construction of the business center and multifunctional center is set to begin in March and is scheduled to be completed by the second part of 2024. The total investment of the first stage of development of the project is estimated to reach more than 100 million euros.

“We are looking forward to developing the new innovative central business district in the heart of Riga, which will be one of the most modern business areas in the Baltics," said Giedrius Bernotas, Board member of Lords LB Asset Management and Fund manager of Lords LB Special Fund V.

So far the supporting structures and reinforced concrete structures of the eight-story multifunctional centre have been completed.

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