Rietumu Banka granted the financing of EUR 3.35 million to
Estonian company Juhkentali 13 OÜ. The funds are intended for construction of modern apartment
building in Tallinn, Estonia. This new residential project will be
located in the centre of Tallinn, in Kesklinn, at 13 Juhkentali Street. This
is a second loan provided by Rietumu Banka to that developer – a large-scale
Kadrioru Plaza project had been carried out before, which included 95 apartments
and 40 commercial premises.
There will be 15 apartments and several commercial premises in the new 6-storey building. Some of the apartments will be smaller ones, having the area of about 42 sq. m, while 4-room and 5-room apartments will be about 110 sq. m. The apartment sale prices will range approximately from EUR 230 thousand to EUR 575 thousand.
“According to its strategy, Rietumu Banka carries out active operations not just in Latvia but also in the Baltics and other countries of the European Union, as soon as we see the potential of successful cooperation with the clients creating new economic value. This project is a continuation of established cooperation with real estate developer in Tallinn, and it will expand our wide portfolio of financing new residential properties. Each new project enhances the bank’s experience and knowledge about particular country, market, and sector, thus enabling the lending outside Latvia,” said Chairman of the Board / CEO of Rietumu Banka Jeļena Buraja.
The construction works will be performed by Estonian company Bariot Group, which has engaged in a number of similar projects before. The property is planned to be completed in the beginning of 2026.
“Our new project combines modern architecture,
elaborated design, and excellent location in the centre of Tallinn, just
minutes away from the city’s major places of leisure, shopping venues, schools,
and transport hubs. There are several parks nearby, and the concept of the
project allows building a balanced living environment that combines both
peaceful harmony and city bustle. We are glad about cooperation with Rietumu
Banka, as they delved into our idea and were enthusiastic about implementing
this project,” noted Arkadi Beinenson, Member of
the Board of Juhkentali 13 OÜ.