Lasco Investment hires architect Larry Oltmanns

Real estate investment management company SIA Lasco Investment has hired architect Larry Oltmanns, who represents architecture office “Vx3”, and international real estate consultation company “Cushman & Wakefield” as partners in designing the development plan conception for business centre “Daugava” and adjacent territory at 3 Balasta dambis, Riga. These collaboration partners have been chosen through an international tender announced at the end of last year.

Decision concerning the territory development at 3 Balasta dambis, Riga, was taken in accordance with the Real Estate Investment Development Strategy of SIA “LASCO Investment” for 2009 – 2014, whose main objective is effective management of real estate assets and creating maximum added value for shareholders.

After assessing such factors as the present condition of business centre “Daugava” (previously known as “Press House”), strategies for its most effective short-term and long-term utilisation and potential for added value, SIA Lasco Investment decided to initiate the development process of the real estate asset with the aim to ensure its successful sale in the future along the lines of the Real Estate Investment Development Strategy for 2009 – 2014.

This property will be developed in line with the long-term goals of the city of Riga set out in Riga City Development Plan, taking into account the significance and heritage value of the city’s waterfront panorama, skyline and their perception area.

The Riga City Development Plan permits the development of business and public areas in this territory. This development should ensure the functional expansion of the centre of Riga with a new business building, development of public structures, creation and enhancement of the central accentuated city skyline group. The conception of this territory development plan will be developed in close cooperation with the responsible authorities of the City of Riga.