30 million invested in Pārdaugava skyscraper development in Latvia

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Representatives from Estonian property developer Direct Invest Group announced on December 2 that it had begun development of a Class A office center on Balasta Dam in Rīga, investing an estimated 30 million euros.

The building will be located near the Swedbank skyscraper, and at 91 meters in height will include 23 floors with a total area of 20 000 square meters. The project has received a building permit and will begin construction in the second half of 2020.

The new office building was designed by the Arhis architectural practice, and offices will range from 50-800 square meters.

"Rīga still has high untapped potential in office building development. In our opinion, despite recently completed new offices, the Rīga market still lacks quality office space," said Direct Invest Group Partner Vitalijs Kelometss.

Direct Invest Group specializes in commercial development in Estonia. Over the last ten year it has developed office and commercial building projects in Tallinn, Tartu, Pärnu and other places in Estonia. This will be their first project in Latvia.

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