LASCO Investment and Riga City Development announce architect for 3 Balasta dambis, Riga (LV)

Real estate investment management company SIA LASCO Investment announced that it has hired architect Larry Oltmanns, who represents architecture office Vx3, and international real estate consultation company Cushman & Wakefield as partners in designing the development plan conception for business center Daugava and adjacent territory at 3 Balasta dambis, Riga. These collaboration partners have been chosen through an international tender announced at the end of last year.

Balasta dambis

Architect Larry Oltmanns will be designing the new Balasta dambis building in Riga, Latvia.

Decision concerning the territory development at 3 Balasta dambis, Riga, was taken in accordance with the Real Estate Investment Development Strategy of SIA "LASCO Investment" for 2009 – 2014, whose main objective is effective management of real estate assets and creating maximum added value for shareholders.

After assessing such factors as the present condition of business centre "Daugava" (previously known as "Press House"), strategies for its most effective short-term and long-term utilisation and potential for added value, SIA "LASCO Investment" decided to initiate the development process of the real estate asset with the aim to ensure its successful sale in the future along the lines of the Real Estate Investment Development Strategy for 2009 – 2014.

This property will be developed in line with the long-term goals of the city of Riga set out in Riga City Development Plan, taking into account the significance and heritage value of the city's waterfront panorama, skyline and their perception area.

The Riga City Development Plan permits the development of business and public areas in this territory. This development should ensure the functional expansion of the centre of Riga with a new business building, development of public structures, creation and enhancement of the central accentuated city skyline group. The conception of this territory development plan will be developed in close cooperation with the responsible authorities of the City of Riga.

Larry Oltmanns has participated in project development across five continents, concentrating on architecture design landmarks that significantly improve the urban environment quality. The hallmarks of these projects are their impressive size, focus on strategic planning, combination of innovation and harmony in urban environment design and guaranteed long-term financial results for the owners.

The architect's portfolio includes over 60 completed and current projects. The most notable of them are Finsbury Avenue Square in London, Adelaide Convention Centre, Korea World Trade Centre, Hong Kong Convention Centre, United Gulf Bank building in Bahrain, NATO Headquarters in Brussels, Rondo ONZ in Warsaw, master plan of Euston Station redevelopment in London, design and development of many other urban planning objects (more detailed information about Larry Oltmanns's experience and offer is available at

The Chairman of the Management Board of "LASCO Investment" Raitis Nespors pointed out: "As a real estate asset management company, we have a priority to i

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