Construction Project of ABLV Bank Headquarters in New Hanza City Approved

Riga, Latvia, January 12, 2016, 15:21 / Banking

At the end of 2015, construction projects to be implemented among the first ones within the initiative of a financial and recreation centre located in New Hanza City (NHC), a territory developed by Pillar, obtained concurrence. Consequently, construction projects of ABLV Bank headquarters, multifunctional office building and engineering communications received all necessary approvals.

In connection therewith, first construction works involving the installation of engineering communications on the NHC territory will start already in the second quarter of 2016. During a year, it is planned to build a network of streets and install a water supply system, sewerage system, heat and energy supply systems on the adjacent territory of the above-mentioned buildings.

Upon the completion of the construction works in 2017, Pillar will be able to launch the construction of two buildings, which will meet the highest quality and comfort level requirements. A shared underground parking lot will be located under the buildings.

The planned floor space of ABLV Bank headquarters is 21,690 m2. It will be a 15-floor skyscraper with a representative lobby, deliberative customer service area, work premises for 900 employees, vast rest area for employees and meeting rooms. In order to find a unique architectonic decision that would also suit the urban environment, different but mutually harmonizing types of facades have been created, i. e. a classic facade with natural stone plates and modern facade with clear (glass) system in steel structures, as well as a winter garden atrium glass roof.

The office building with an area of 19,410 m2 will be divided in 6 floors. It is going to be an A-class office building meeting BREEAM (British Research Establishment Environmental Assessment Method) certificate requirements. BREEAM is the world's foremost environmental assessment method and rating system for buildings.

All buildings located in NHC will have green roofs providing a variety of ecological and aesthetic advantages. Such roofs, which are also known as eco roofs, are soil layers that absorb moisture and keep it in soil and plants, thus not allowing it to accumulate on the roof surface.

The construction works are to be completed in approximately 3 years with general constructor Pillar Contractor, SIA, a Pillar group company supervising the organization and quality of construction works. Simultaneously with the construction of the above-mentioned buildings, Pillar will continue developing the next stage of the NHC, which will include, inter alia, the construction of apartment buildings.

As previously announced, the building of the Contemporary Art Museum of Latvia will also be located in the NHC. The project developer is the Foundation of Contemporary Art Museum of Latvia. In collaboration with Malcolm Reading Consultants, the leading independent organizer of architectural competitions based in the UK, a competition for an architectural decision for the museum was announced, based on the results of which 5 – 7 international architect firms will be chosen to create an architectural image of the new museum together with Latvian architects.

City Within the City — New Hanza City

New Hanza City borrowed its name from the famous and historically significant Hanseatic League in which Riga was of particular importance being one of the major trading cities. This symbolic name New Hanza City unites characteristic elements of the ancient Hanseatic League, i. e. finance and trade, in a dynamic environment and an international spirit. With New Hanza City project, we would like to restore the historical significance of Riga in the international environment, and to develop our city as a regional financial centre.

The idea of the development of an ambitious financial business and leisure centre in the former Riga goods railway station, in the district between Hanzas, Pulkveža Brieža, Skanstes and Sporta streets, was born more than ten years ago and over this time it has been persistently worked on.

NHC is being developed on the area of 24.5 hectares. Besides the above-mentioned buildings, it will consist of a hotel, conference centre, pre-school educational institution, as well as a city garden with wide green area for recreation in the centre.

Pillar group, established in 2008, is owned by the largest private bank in Latvia ABLV Bank, AS and it includes companies that operate in the field of real estate development, management, and trade. Pillar group includes Pillar Management, SIA, Pillar Holding Company, KS, New Hanza City, SIA, and other companies. In total, Pillar supervises about 520 properties worth approximately 59 million euros. So far, the company has invested the total of 15 million euros in renovation of properties. Since 2013, Pillar has been the major sponsor of the Annual Award in Latvian Architecture organized by the Latvian Association of Architects.

Jānis Bunte
PR Specialist
Tel.: +371 6777 5432