Rietumu Banka has granted a loan of 3.6 million euros to Ulbrokas Business Park, the developer of the modern and sustainable business centre “Versum” located on Ulbrokas Street in Riga.
Ulbrokas Business Park is a part of Estmak Capital, an Estonian real estate company dedicated to creating innovative and sustainable spaces across the Baltic States.
The first stage of the Versum project has been successfully completed, with nearly 8,000 sq. m. of premises built and the first tenants already moving in. The second stage is scheduled for completion in 2025, promising to further expand the centre's facilities and strengthen its role as a dynamic hub for business growth in Riga.
“Rietumu Banka supports development of ambitious, innovative and sustainable projects, which not just advance a company’s goals but also further improvements in the city infrastructure and overall business environment. The implementation of this project is another step in building a modern ESG-compliant environment in Latvia, enabling the companies to grow and strengthen their market positions. Riga needs such comfortable high-quality spaces, which will provide attractive business infrastructure for both local companies and foreign investors,” said Chairman of the Board of Rietumu Banka Jeļena Buraja.
“The total amount of investments to Ulbrokas Business Park is planned to be about 20 million euros. Our goal is to develop a comfortable, dynamic environment, in which companies will be able to successfully run the full range of their everyday activities. Our stock-office complex allows for future growth, and we are glad Rietumu Banka has appreciated its potential benefits,” told Tatjana Arhipova, CEO Estmak Capital.
The concept of stock offices seamlessly integrates office, showroom, and warehouse spaces into one versatile and efficient solution for businesses. At Versum, tenants can benefit from office areas, retail spaces, warehouses — all under one roof. The building layouts are highly flexible, allowing businesses to customize their premises to meet specific needs.
Strategically located in a rapidly developing area of Riga, Versum boasts excellent transport connectivity. This makes the business centre an ideal choice for companies of all sizes, from start-ups to international corporations.
Sustainability
solutions are of major importance within the project. The stock office is a
class A building that meets energy efficiency requirements and has
international BREEAM certificate, which evidences its sustainability and
reduced environmental impact. There are solar panels on the roof and electric
vehicle charging stations at the building parking space, enabling the use of
environment-friendly energy resources.
About Estmak Capital
Estmak Capital: Developing Properties with Dedication
Estmak Capital prioritizes innovation and environmental sustainability
in its property developments. The company bases its projects on the latest
advancements in design and construction, creating business and residential
complexes that form fully integrated environments where every detail is
thoughtfully planned. Striving to offer the best property development in the
Baltic States, Estmak Capital is committed to delivering sustainable value for
future generations.