Kazakhs to erect towers in Riga

  • 2006-07-26
  • From wire reports
RIGA - A Kazakh bank and Turkish construction firm have announced that, together with Latvian architects, they plan to build a hotel and entertainment center 's Astana Towers 's in Riga.

Kazakhstan's Bank Caspian, together with SML Construction, a Turkish firm, told a news conference last week in the Latvian capital that total investments in the three-year project would amount to 250 million euros. A bank official said that the bank would initially invest 60 million euros in the project.
The complex will include hotel and administrative buildings with some 130,000 square meters of floor space. The builders are planning to erect four 24-story high-rises that will be linked by shopping and entertainment complexes.

The first tower, whose floor space is planned at 11,200 square meters, will house a five-star hotel, while the second tower, which will be of the same size, will house suites of luxury class. The third and fourth towers will house business centers in a total floor space of 22,400 square meters. The complex will also include a 48,000 square-meter shopping center, as well as stores, cafes, restaurants and a multiplex movie theater.