AS Expobank has granted a long-term loan to KSIA “Unico” in the amount of 6.4 million EUR for the construction of two multi-apartment houses in Pļavnieki. The project “Deglava Painters Rezidence” foresees two 10-storey apartment buildings with a total of 152 apartments. The project includes a mix from 1 room to 4 room apartments.

The Deglava Painters Residence project includes apartments, parking and storage rooms, a green area and playgrounds, in addition, it is planned to build bicycle parking, a recreation area and a sports field. The buildings will be located at 148 A. Deglava Street in Riga.

Žanete Balode, sales manager of KSIA “Unico” project Deglava Painters Residence, points out:

“We create this project with an idea to show our customers and the residents of Pļavnieki, how living can be different in a new house that meets modern requirements, in a green and tidy environment. We strive to offer our customers the utmost comfort and high living standard. We carefully studied the construction area, so that every inhabitant of the house would have both schools and kindergartens nearby, as well as a shop and entertainment facilities. Very essential is that the city centre in very close.”

It is planned to use heat-intensive materials in construction, which means that the energy efficiency of the building will reach level A and heat losses will be close to zero. The apartments will be equipped with individual heat energy meters, which together with Class A energy efficiency will significantly reduce heating bills.

“We are pleased that, despite the pandemic and the difficulties it has caused, the real estate and construction sector continue their development and entrepreneurs are choosing secure and prudent financing for their business. KSIA “Unico” is a creative, development-oriented company and a reliable customer of the bank, so we are looking forward to the moment when the new project will open its doors to the new tenants,”

says Vasilijs Karpovs, Member of the Board of AS Expobank.

The new apartments are designed in accordance with market trends and the international experience of ELECTRA company, so that each apartment has an ergonomic layout and the maximum number of rooms. The smallest apartment area will be 29 m2, while the largest – 87 m2. The project is implemented by the multidisciplinary construction company MONUM.

KSIA “Unico” is a subsidiary of Electra Group.  Its extensive international portfolio includes a wide variety of complex projects that currently span 17 countries across 4 continents.  Established in 1945, and publicly traded on the Tel Aviv Stock Exchange since 1971, Electra operates with a multidisciplinary approach that draws on the unique synergy existing between its subsidiaries. The Group, which operates in both the public and private sectors, has established a proven reputation for developing, planning, and constructing countless high-profile development projects, from residential, industrial and hi-tech buildings

AS Expobank is one of the oldest banks in Latvia, established in 1991 and celebrating the 30th anniversary this year. At the beginning of 2019, the Bank completely changed its operating strategy and introduced a new business model, starting to increase its market share in the Latvian financial market. This marked a new development start of the Bank, which envisages a competitive financing offers to corporate clients, term deposits for individuals, brokerage services, as well as introduction of innovative financial technologies.

For more information please contact
Anna Andina
Head of PR and marketing at AS Expobank


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