YIT builds high-rise round towers in Riga

AS YIT Ehitus, Estonian subsidiary of the Finnish company YIT Construction Ltd, has signed a 40 million euro contract for the building of two 120-metre-high round buildings for SIA Towers Construction Management in Riga, Latvia. The buildings will comprise of offices, a hotel and retail premises, which are being built on the already made foundation and underneath the completed ground floor.

The contract between AS YIT Ehitus and SIA Towers Construction Management includes the construction of the frame and façades. The contract value of the first stage of the construction will be approximately 40 million euros.

The project is owned by SPI Real Estate Holdings, a Luxemburg-based real estate developer. The building consists of two circular high-rise towers of 31 and 29 floors. The tallest tower will reach 120 metres and the total area of the premises will be approximately 100 000 square meters of which 70 000 are located above ground. The Hotel tower is to be operated under the brand name Sheraton by Starwood hotels and Resorts Worldwide, Inc.

- We are excited about this project, which is a promising one despite the economic circumstances of the region. The innovative construction of the two connected buildings is bound to become one of the outstanding architectural landmarks in the Baltic Region, says CEO of SPI Group, Val Mendeleev.

www.yitgroup.com