3.3 million euros are allocated for the renovation of a historic building in Riga
Rietumu Banka has granted financing in the amount of 3.3 million euros for the renovation of the historic building located in the center of Riga, on Krišjāņa Valdemāra Street.
Photo: Project visualization (db.lv)
The loan for this purpose has been issued to SIA V61 – real estate investment fund Indexo Real Estate Fund, which is managed by SIA Provendi Asset Management AIFP – a group company. The building on Krišjāņa Valdemāra street was built in the period from 1912 to 1914, its author is architect Herberts Tīmanis. Currently, this building is a nationally protected cultural monument of regional significance, which has a set of values to be preserved, including a special roof shape, interior decorative decoration, stair railings and decoration, historical elevator, original exterior doors, interior doors, and other values, and new cultural values are indicated. the possibility of discovering parts of the monument. Due to historical events, the house was not maintained in accordance with modern requirements for the last several decades, and before the renovation, the state of preservation of its values was recognized as unsatisfactory. Thanks to the financing granted by Rietumu Banka, the house will be completely renovated, preserving and reconstructing its historical facade, roof and interior elements. As Yeļena Buraja, chairwoman of the board of Rietumu Bank, emphasizes: “The renovation of cultural monuments is an important work that is necessary for the preservation and revival of the landscape of the historical center of the capital of Latvia. We appreciate Indexo Real Estate Fund’s commitment to fully restore this building to its grandeur while making it functional and comfortable for its new occupants. Thanks to such projects, Riga as a city is becoming more and more beautiful and friendly to our Latvian people.” Read the full article here
