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16.03.2021

UPB signs agreement for the construction of the "Preses Nama Kvartāls"

On March 16 this year the project developer Lords LB Special Fund V and AS UPB signed a construction agreement for the 1st stage of the Preses Nama Kvartāls. Within the scope of the agreement, it is planned to build a Class A office building and a multifunctional centre with retail space, food court, green terraces and the first rooftop football pitch in the Baltics, paying special attention to sustainable solutions supporting both nature and the urban environment. The construction costs of the first stage amount to EUR 76,8 million.

The new Preses Nama Quarter will be located in Riga’s Knowledge Mile in Pārdaugava, within the territory of the former Preses nams publishing house at Balasta dambis 2. In addition to the office and multifunctional centre buildings, the project also provides for spacious green zones and leisure areas, as well as infrastructure specially adapted to pedestrians and cyclists. Construction work is due to be completed within 24 months of the receipt of the construction permit.

During the first stage of the project, 25 000m2 Class A offices, 40 000m2 multifunctional premises (commercial premises, 1.000 overground parking facility, recreational areas) will be built.

Giedrius Bernotas, Fund manager of Lords LB Special Fund V: “This is a very important moment for the Preses Nama Kvartāls team. Together we have done a great job, which is why we are confident that construction of the quarter should be entrusted to a company with a flawless professional reputation. The design of the Preses Nama Kvartāls has been developed by an international team comprised of three leading architecture firms. Therefore, I am pleased that we have agreed to work with UPB, whose track record includes several exceptional global construction projects. The result will be one of the most modern and environmentally friendly business quarters in Riga.”

UPB Board Member Uģis Grīnbergs: “UPB has powerful capabilities in the construction of technologically complex buildings in Latvia and abroad, and the developer rightfully considers this to be a guarantee of safety and stability for the implementation of this project. The Preses Nama Kvartāls will offer proof of our in-depth knowledge and experience accrued over a 30-year period, especially in the implementation of full cycle projects, construction of high-rise buildings and in other fields. UPB’s advantage when it comes to the implementation of such major projects is the internal capacity of our group of companies – ranging from design, to production, supply and assembly of building structures, and service of the finished buildings.”

In the Preses Nama Kavartāls, special attention will be devoted to energy efficiency, choosing environmentally friendly materials, accessibility solutions, creating a healthy work environment and sustainable management of the building. Along with Class A office premises, which will conform to the BREEAM Excellent standard and provide working places for approx. 2,500 people, there will be also a co-working, a food court, shops, bike parking facility, approximately 1,000 parking spaces, electric car charging stations, walking areas and terraces with greenery.

The Preses Nama Kvartāls first stage has been developed by an international team of top-class architects. ARHIS ARHITEKTI led by Latvian architect Andris Kronbergs, KSP Jürgen Engel Architekten from Germany and Arrow Architects from Denmark.

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