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Kapitel completes 60-million-euro office development in Riga

SIA Kapitel receives a building permit for the first stage of Skanste development project in Riga

The Riga City Construction Board has issued the Latvian subsidiary of Kapitel (formerly E.L.L. Kinnisvara) a permit for the first building stage of the office complex Skanste Biznesa Centrs. The building was designed by the Estonian architectural design office Arhitektuuribüroo Pluss in cooperation with its Latvian partner SIA Birojs T22. Construction is planned to begin in the spring of 2018, and the buildings of the first stage of the office complex should be completed by the end of 2019.

 “Receiving the building permit for the Skanste project is a step forward in the realisation of our Group’s development strategy. It is our second largest development project besides the Juhkentali Quarter in Tallinn city centre. The winning design of the architectural contest was published in January and received positive feedback. Potential renters have also shown active interest in the project,” says Indrek Moorats, Kapitel’s Development Director and Member of the Board.

“In our development projects, we focus on the creation of sustainable, functional and aesthetically pleasing spaces for people and companies. We ensure good energy performance, high-quality internal and external environments, energy Class A office spaces, flexibility and compliance with the BREEAM sustainability standard. We gained valuable experience of the application of the BREEAM standard in November 2017 with the Narbuto 5 office building in the centre of Vilnius, which was our first project to have been designed and constructed based on the BREEAM.”

The Skanste Biznesa Centrs office complex will include five buildings with the total office area of 43,600 m2 for lease. The complex will provide parking space for nearly 1,600 cars in a parking house and underground parking. The energy-efficient and sustainable Class A office buildings will be designed based on the Building Information Modeling (BIM) principles and in line with the international BREEAM standard.

During the first building stage, it is planned to build two 11-storey office buildings on a joint underground parking floors and a connection on the second floor level. The space for lease in the building will be 22,700 m2 and underground and overground parking will be provided for a total of nearly 600 cars. Both towers of the complex will accommodate 700-800 working places and the possible number of visitors might reach a thousand people a day.

During the following stages, three more office buildings are planned to be built with the total space for lease of about 20,900 m² plus a multi-story parking house in the middle of the complex. The next development stages should be carried out in 4-5 years, or sooner, should there be sufficient demand.