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After final development of the concept and project’s authorization, in October 2020, the last stage of renovation works in office building Raina Boulevard 25 are to be started to make this property one of the most beautiful and high scale office buildings available in the area.

Raina Boulevard 25 was acquired in March 2020 by Baltic RE Group who is one of the most experienced real estate investors in Baltics. Baltic Re was founded by Giovanni dalla Zonca and Marco Chioatto and for more than 10 years is specializing in commercial property development in Baltics. AS Baltic RE Group is an experienced real estate investor specialized in the creation and subsequent realization and management of value-added and core portfolios in the Baltics. SIA “Vestabalt” team represented the Seller SIA “Raina Centrs” in this sales transaction, caring of legal advice too. Legal advice to the Buyer has been provided by Aivars Blumins, “Ecovis Convents”.

SIA “Vestabalt” chairman of the board Liga Uzkalne commented “I am glad that this property has been acquired by Baltic RE group that we have been cooperating for more than a decade. Knowing their world wide experience and work quality in previously developed projects, I am sure that Raina Boulevard 25 will be renovated up to the highest standards and will give new visual accent to Raina boulevard and Kr. Barona street corner and Riga historical city center”.

While still the Covid19 crisis is challenging our way of living and economic consolidated convincement, this project is an act of trust in the country, in its potential, in the high quality of its human resources. The property Raina Bulvaris 25 has a fantastic potential: unrivalled locations and property structure  gives us the real chance to create a landmark extraordinary  building. We defined the concept with the creative help of the Italian architect Adriano Castiglioni to develop solutions and interior design with the aim to create a new benchmark for the working environment. We will name it “The Icon” as we wish to immediately and emotionally underline the idea to create something innovative and uniquely iconic.” – says Giovanni dalla Zonca, Chairman and CEO of Baltic RE Group.

Renovation works for Office building Raina Boulevard 25 are to be completed in Spring 2021.

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