Construction of the first-phase Class A office building has reached its final stage. Approximately 90% of the key engineering works have been completed, including water and sewage systems, electricity supply, sprinklers and fire safety systems. Fire-resistant glazing has also been installed, while elevator installation, external ceilings and landscaping works are currently underway.

The project continues to attract tenants. Approximately 75% of the retail and service premises and 25% of the available office space have already been reserved. Tenants already signed or reserved space in the building include OP Bank, Deloitte, Vendon, VILGERTS, Berlin-Chemie/Menarini Baltic, Utilitas Wind and UXDA, among others. The first tenants are expected to start operations in January 2027.

“The strong interest from potential tenants confirms the demand for high-quality and sustainable office space in Riga. At the same time, the new bond issue provides investors with an opportunity to invest in the continued development of the Preses Nama Kvartāls project, with the bonds secured by a first-ranking mortgage over the project’s properties,” says Povilas Urbonavičius, Head of Lords LB Special Fund V.

The bonds are secured by a first-ranking mortgage over the Preses Nama Kvartāls properties. Since the first bond issue in May 2025, investors have received more than €4.75 million in interest payments with €66.1 million of bonds already issued in nominal terms, representing 88% of the bond programme.

The issue is arranged by Artea Bank, with Orion Securities UAB and Redgate Capital AS acting as selling agents. The bonds will be listed on the Nasdaq Baltic Bond List. The minimum investment is one bond at a price of €1,041.764, including accrued interest. The planned issue date is 13 October 2026.

About Preses Nama Kvartāls

Preses Nama Kvartāls is a mixed-use development in Riga’s Ķīpsala district. The first phase includes an 11-storey Class A office building, complemented by retail and service premises, catering, sports and wellbeing facilities and public outdoor space. The planned 14,000 m² outdoor area will connect the office building with the canal and surrounding urban environment.

The project is developed by Lords LB Asset Management.