LPB Bank financing is contributing to the construction of a residential building with a view of the Daugava in Ogre

  • 2023-02-20
  • Kristine Stalidzane

LPB Bank has issued a loan of EUR 1.08 M towards developing a six-storey apartment building in Ogre. The project is being implemented by construction company SIA Dienvidu celtnieks, which has many years of experience developing panel-based multi-tenement housing. The company has implemented projects in Riga, Liepaja, Ogre, Salaspils and elsewhere, including building social houses. The advantage of the panel method is that construction works can take place year-round without pausing for the winter months. As a result, development efforts can be completed in less time. 

The project for the development of three residential buildings began in 2007, when the first house was built. In 2021, the second house of the project was commissioned. The designed houses are located in one of the most beautiful places in Ogre - Draudzibas iela, and the windows of the apartments overlook the Daugava. In the nearby neighbourhood, there is a kindergarten, supermarkets, and Ogre railway station; at the same time, the street is quiet and peaceful, and you can't feel the city's noise. 

All flats in the first two houses have been sold out, with ten of them acquired by the Ogre municipal government as part of a programme to improve teachers' living conditions.

In the construction project financed by LPB Bank, 22 families can buy modern three- and four-room apartments. In contrast, 15 lockable storage rooms have been built in the basement for the convenience of apartment owners.

The total area of the third house is 1,900 square meters, and it will be surrounded by a landscaped, fenced-off yard with a children's playground and car parking. Having built three houses, the project developer refused to build a fourth house on the purchased plot in favour of arranging a parking area. The plot of land was allocated space for parking cars, which in Ogre, as in Riga and other big cities, is usually a problem in the yards of apartment buildings. 

SIA Dienvidu celtnieks Director Juris Perkons appreciates this cooperation with LPB Bank. The Bank was guided not only by the profitability and location of the project but also by the criteria of the developer's experience and the successful implementation of previous projects. "The bank made the decision quickly, acted with flexibility and a cooperative outlook, enabling 22 families to move into new, convenient, highly comfortable flats in an aesthetically pleasing part of the city by the end of the year," Juris Perkons commented.