Trusted experts: why Estmak Capital chose BLV Advisory Group for their projects in Latvia

The VERSUM business centre is Estmak Capital’s first project in Latvia, realized in partnership with BLV Advisory Group. The project stands out for its “three-in-one” approach, combining offices, warehouses, and retail or showroom. This offers both large and small companies the opportunity to optimize their resources by operating within a unified and streamlined infrastructure. The spaces within the VERSUM business centre are multifunctional and adaptable to the needs of various businesses. This concept provides a modern and convenient way to enhance team communication and organize day-to-day business operations and development, while also ensuring a contemporary and sustainable working environment for employees.

Given the high interest from potential tenants, it’s clear that this type of concept is highly relevant in Latvia, even though the implementation of such projects has not been widespread until now. The VERSUM business centre offers tenants the opportunity to significantly optimize logistics and rental costs while simultaneously enhancing work efficiency.

VERSUM is designed with sustainability in mind – the business centre has been designed to BREEAM standards. The buildings incorporate smart technologies such as solar panels and heat recovery ventilation systems to help manage the climate and maintain comfort. The large windows provide natural light, creating a bright and ergonomic working environment. Outdoor areas include bicycle parking, park benches and electric vehicle charging stations. A rooftop solar park and fast charging stations for electric vehicles are also planned for future development, offering even more convenience for the building’s tenants and visitors.

Tenants of the complex have the opportunity to set up meeting rooms, kitchen areas and personalise their offices with their own identity, including the company logo on the facade of the building. The shops have separate entrances and excellent visibility from Ulbrokas Street, while the warehouses have high ceilings and high floor load-bearing capacity, as well as automatic gates for easy vehicle access and efficient cargo management.

For any project, it is critical for the developer to select the right partner who is not only able to communicate effectively with all parties involved in the construction project, but also provides invaluable technical expertise and strikes a balance between the developer’s interests and the best possible end result.

BLV Advisory Group’s role in the project was to provide technical supervision and quality control throughout all phases of the project, thus supporting Estmak Capital in its management, technical issues and professional support, but this role went further. It was the ability to adapt, communicate proactively and, as Sergey Frolov points out, “do more than the contract requires.”

The partnership between BLV Advisory Group and Estmak Capital is proof that long-term relationships and stability are essential to the successful realisation of our goals. According to the project developer, this cooperation has enabled the company to successfully adapt to new challenges and changing market conditions, which is very important for companies that choose to work in the dynamic Latvian real estate market.

“We aim to add value and build long-term relationships with our partners Estmak Capital is another client that has been able to see the results and quality of our work and we are very grateful for any recognition we receive from our clients,” says Sergejs Frolovs.

VERSUM Business Centre is Estmak Capital’s first project in Latvia, implemented in cooperation with BLV Advisory Group, and marks the beginning of future plans. The companies have already established a solid partnership for other projects, including the development of Lāčplēša Skvēra, a planned multifunctional and sustainable urban quarter with residential buildings, office space and well-maintained internal infrastructure.

Tatjana Arhipova says that the long-term relationship with BLV Advisory Group is a key factor for the company’s success in the Latvian market. She appreciates the professionalism and adaptability of the BLV team, which has made the project management process successful and comfortable.

“Long-term cooperation helps us plan our future projects and reduces our operational risks. We can be sure that our partners’ strategy is aligned with ours and that they aspire to the same high quality standards as we do. This is important for us as we are focused on delivering large projects, which requires stable and predictable cooperation,” says General Manager of Estmak Capital.