Imanta to get two new high-rise buildings

RIGA - With demand for residential housing in Riga at sky-high levels, the real estate developer Parkhaus has announced plans to build two 22-story apartment buildings in the Imanta district of the Latvian capital, while another real estate company, Vestabalt, said it was planning to build five 17-story apartment buildings nearby.

The Parkhaus project will involve an investment of several million lats, part of which will come from the company itself and part loans.
According to news reports, Parkhaus plans to sell all apartments by the end of 2005, when it completes construction. If at that point the company sees demand for even more housing, it will consider erecting more apartment buildings.
Apartments in these two new buildings will go on sale starting at 750 euros per square meter.

Builders will use monolith ferroconcrete technology in the construction process, which allows for the fluid planning of apartments within the structures. On the outside the buildings would be plated with aluminum panels and glass. The two structures will contain a total of about 320 apartments of varying size, depending on demand.
Parkhaus boasts that the upper floor apartments will have terraces that provide views of the sea, the city's Old Town and the country's international airport.
A representative from the company said that the residential complex would be designed by architects from the firm Silis, Zabers and Klava. The spokesperson added that an experienced construction company that has dealt with similar projects in Latvia would execute the construction process.
Parkhaus was founded by Latvian businessmen Aleksandrs Danegirss and Vyacheslav Holmin in cooperation with the Moscow real estate company Dekra International, which is registered in the Cayman Islands.