Signet Bank has provided financing of 1.8 million euros for the construction of a real estate project EDINBURGH Apartments&Lofts.
EDINBURGH Apartments&Lofts is located in Jurmala, Dzintari, next to Dzintari forest park. The project consists of two interconnected buildings, which accommodate 65 apartments and 27 lofts. The location of the property allows its residents to enjoy the fresh sea air, as well as a variety of valuable opportunities for recreation and entertainment on a daily basis. A significant advantage of EDINBURGH Apartments&Lofts is the area of 14,400 hectares, both buildings are surrounded by a private park with carefully designed infrastructure for leisure, sports and children entertainment. The reconstruction of buildings was conducted with respect to its unique surrounding environment and remarkable traditions of wooden architecture of the late 19th – early 20th century in Jurmala. The evidence of this can be found in the use of wood in the decoration of the facades and their decorative colouring, as well as in balcony decor that brings to mind the traditional Jurmala balconies abounding in exquisite wood carvings. The author of the project is an internationally recognized architect Zane Tetere-Šulce and the architectural and design bureau “Open AD” led by her, while the builder of the buildings is a Latvian construction company “Anzāģe” that has accumulated considerable experience both in Latvia and abroad.
We highly appreciate that the developers of EDINBURGH Apartments&Lofts have chosen Signet Bank as their financial partner to implement their goals. A beautiful and peaceful environment is one of the treasures of Latvia, so we are always happy to work with companies that care about creating a modern environment,” comments CEO of Signet Bank Roberts Idelsons.
There are many good, high-quality and architecturally interesting residential properties in Jurmala, but they are quite expensive, and their prices do not match the purchasing power of most local residents. In addition, surveys of the real estate industry experts show that the demand for housing in Jurmala among residents of Latvia was and still remains high, but there are not enough compact apartments at affordable prices for local consumers. This is the kind of product that we wanted to create when we started developing EDINBURGH Apartments&Lofts – an attractive product that meets the expectations of buyers,” explains Yevgeniy Semenov, the board member of the company of the project owners OM31 SIA.
Pre-sale of apartments has already begun, the project is planned to be put into operation in autumn 2020.
About Signet Bank
The bank was founded in 1992 as Latvijas Biznesa banka. Since 2013, it has focused its strategy of servicing high net worth individuals and their companies, with an emphasis on high-quality capital maintenance and structured investment projects. Signet Bank’s majority shareholders are a group of Latvian and international investors, chief among them being SIA Hansalink, SIA Fin.lv and Signet Acquisition III.