Zunda Towers high-rise buildings are for sale for 220 million euros

“Zunda Towers” high-rise buildings in Pārdaugava are for sale for 220 million euros, according to an advertisement on the website of the international real estate company “Sotheby’s International Realty”. Aigars Gerhards, executive director of Towers Construction Management, the developer of the Zunda Towers project, said that the main business of the owner of the complex is not real estate, so it has always been possible to buy the complex if there is a buyer whose offered price corresponds to the owner’s expected price. Gerhards did not predict how long it would take to sell the complex, he only indicated that in terms of price it would be one of the largest commercial space deals in the Baltics. “If there is a buyer who is ready to pay the stated price, then the legal formalities could be completed quite quickly,” Gerhard said. When asked if the plans announced a year ago by “Towers Construction Management” to build a third tower in the complex have not been abandoned, Gerhards said that the work on this construction plan is still ongoing and the necessary approval procedure is underway. On the other hand, if during this time a buyer is found for “Zunda Towers” and the owner of the complex changes, further progress with the third high-rise building will already depend on the plans and ideas of the new owner, added Gerhards. It has already been reported that the “Zunda Towers” high-rise buildings were put into operation in January 2020. The total amount of investment in the complex reached 200 million euros. The developer of the project is the company “Towers Construction Management” which is partially owned by the businessman of Russian origin Yuriy Scheffler. Read the full article here