Rietumu Banka provided financing for construction of “Deglava Gleznotāju rezidences”

Rietumu Banka granted a loan of 4.35 million euros to KSIA UNICO, supporting the construction of the third phase of the "Deglava Gleznotāju Residences." This is the second loan issued by the bank for the multi-apartment complex project. The previous loan amounting to 8.2 million euros was used for the construction of the project’s second phase.

"Deglava Gleznotāju Residences" is a complex of seven multi-story buildings located in the Pļavnieki district of Riga. The additional loan from Rietumu Banka has been allocated for the construction of the fifth building, which recently celebrated its topping-out ceremony. The total interior area of this building will be 4,121 m², featuring 71 apartments, 19 storage units, and 36 above-ground parking spaces.

"Financing high-quality real estate projects is one of Rietumu Banka priorities, which is why we continue to support the construction of this modern multi-apartment complex. The demand for high-quality, energy-efficient housing with lower maintenance costs will continue to grow, and this project will be another contribution to the sustainable development of the city and the improvement of residents' quality of life," emphasizes Chairman of the Board / CEO at Rietumu Banka Jeļena Buraja.

“Long-term cooperation with Rietumu Banka ensured substantial support to our project. We highly value the bank’s trust in us, which is evidenced by another loan provided. Our established partnership enables successful progressing with the planned building construction and landscaping works. We also appreciate the bank’s strategic approach of diving deep into the project, coupled with long-lasting support, which provides a solid foundation for further development and the realization of new opportunities,” said KSIA UNICO CEO Kristaps Lukašinskis. 

Currently, two buildings in the project are occupied, and two more have been put into operation. The construction of all buildings in the project is expected to be fully completed by the end of this year. The total amount of investments is planned to exceed 30 million euros.

The apartments offered for sale correspond to A level of energy efficiency. In the competition organized by the Ministry of Economics last year, the project was named the 2^nd most energy-efficient new building in Latvia in 2024.

The construction of the apartment building is carried out relying on the long-term vision, accrued competence in the real estate area, and the experience of successful implementation of large-scale projects.

The developer of “Deglava Gleznotāju rezidences” is KSIA UNICO – Latvian subsidiary of the international company Electra Ltd. The construction works are performed by SIA MONUM, whereas the architectural design was developed by SIA TECTUM.

About KSIA UNICO

The developer of “Deglava Gleznotāju rezidences” is KSIA UNICO – Latvian subsidiary of the international company Electra Ltd. Electra Group is an established brand active in 17 countries across 4 continents. The strategy of Electra is rooted in excellent performance and constant expansion. Today, Electra consistently increases its international presence, taking on new exciting projects all over the world. The group relies on its accumulated knowledge, impeccable reputation, and persistent credibility.