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Merks will build the modern business centre VERDE in Riga

Merks has entered into a contract with SIA Hanzas 14, owned by Capitalica Baltic Real Estate Fund I, for the construction of business complex Verde in Skanste district, Riga. Verde business centre is to become one of the largest business centres in Riga with the total area of 45,000 m2, including the underground parking lot.

“The international construction procurement procedure we announced in the beginning of the year received ample attention of the construction market participants. The tenderers were subject to very high qualitative requirements. All tenders were carefully evaluated, as mandated by the unique architectural, technical and engineering solutions of the business centre. We believe that having chosen SIA Merks, a company holding extensive experience in construction of exclusive buildings, the implementation of the project will proceed smoothly and adequately,” said Andrius Barštys, CEO at Capitalica Asset Management, responsible for development of Verde project.

“The current offers of the top-class business centres in Riga are not abundant. Therefore, we consider the opportunity to participate in implementation of this grand project to be the highest appreciation of our competences and experience. The vision of our company is reliable solutions and high-quality implementation of ideas, which will be fulfilled during construction of this unique and sustainable Verde business complex,” stated Andris Bišmeistars, Board Member and Construction Director of Merks.

The construction of Verde centre will commence in July this year. The works of the first stage include construction of an office building and an underground parking lot with the total area of 29,500 m2. The contract value is more than EUR 31 million, plus value added tax. It is expected to complete the works of the first stage in the first quarter of 2022. The start of the construction of the second stage will be decided within 12 months from the date of signing the contract. The second stage includes an office building with the total area of 15,600 m2. The contract value is more than EUR 17 million, plus value added tax. The entire complex should be ready by 2023.