Rietumu Banka provided 3.2 million euros for construction of new Rimi store

Rietumu Banka has granted a loan of 3.2 million euros to SIA Lielezeres 18, a part of Astor Group. The financing is intended for construction of new Rimi store in Dzirciems, at 18 Lielezeres Street in Riga. The construction of this modern energy-efficient building has already started, and it is planned to be completed this summer.

“Development of high-quality real estate is one of our strategic lines of business. Rietumu Banka provides support to dynamic sustainable projects that improve the city infrastructure, enhancing the quality of life of local residents. We place high value on the diversity of operations of Astor Group, which develops real estate in various segments, including hospitality industry, residential and commercial properties. We are glad to resume our cooperation and to become a long-term partner within realization of this project. New Rimi store will be both a valuable addition to the neighbourhood and a positive example of applying sustainability principles to development of modern business environment,” told Member of the Board and Head of the Lending Department of Rietumu Banka Artūrs Jukšs.

“Astor Group has been in the business of real estate development in Latvia for more than 20 years already. The first loan obtained from Rietumu Banka amounted to 25 million euros and was meant for a hotel development. This successful partnership laid the foundation for further cooperation, including current project. New Rimi store is another step to expanding our activity in trading sector, and it will contribute to sustainable improvement of the urban environment. We are grateful to Rietumu Banka for the provided substantial support, which will allow fulfilling our development plans,” said Raimonds Plāte, the representative of Astor Group.

The construction of new shopping centre will be performed according to Rimi standards, paying special attention to sustainability in order to ensure comfort for both the clients and the store employees. The total rentable area of the building is planned to be 1812 sq. m. There will be a number of sustainable solutions implemented, including energy-efficient LED lights, which will allow reducing electricity consumption by 30%, light sensors in staff rooms, special cooling system, and efficient ventilation equipment. A parking for 20 bikes is planned to be located near the store, thus encouraging the use of environment-friendly transport.

About Astor Group

Astor Group is an international investment holding company having experience of more than 55 years. Several companies of the group are represented in Latvia, including those managing and developing notable hotels in Riga: Radisson Blu Daugava, Radisson Blu Rīdzene, Park Inn by Radisson Valdemara, Park Inn by Radisson Residence Riga Barona, and Radisson Hotel Old Town Riga.