Baltic International Bank invests €12 mil in Riga Old town renovation project

The Baltic International Bank has invested €12m into the renovation of the Vecrīgas kvartal in Riga. The funds have made it possible to sign contracts with the Ivara Šļivkas birojs architectural studio and to assign the construction work to Ramej Construction, which has begun on the 5-storey building. The historic building is to be transformed and renovated into a multipurpose public and business center. The site is part of the Riga Historical Center UNESCO preservation zone, containing part of the old defensive walls of the city from the 13th century. These ruins will be preserved and made available to the public for viewing. When complete, the ground floor will contain the Museum of Money, two floors of galleries and office space. Baltic International Bank has reserved the top two floors of the building as its new headquarters. No date for completion has been given for the project.