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LSC: LASCO Investment involves architect Larry Oltmanns in designing territory development plan

Spekuliantai.lt | 2010-02-10 | NASDAQ OMX biržų naujienos | perskaitė: 1598
Raktiniai žodžiai: Latvijas kugnieciba, LSC
LSC: LASCO Investment involves architect Larry Oltmanns in designing territory development plan

Latvijas kugnieciba Company Announcement 10.02.2010

LASCO Investment involves architect Larry Oltmanns in designing territory
development plan

Real estate investment management company SIA “LASCO Investment” informs that
it has involved architect Larry Oltmanns, who represents architecture office
“Vx3”, and international real estate consultation company “Cushman & Wakefield”
as partners in designing the development plan conception for business centre
“Daugava” and adjacent territory at 3 Balasta dambis, Riga. These collaboration
partners have been chosen through an international tender announced at the end
of last year.
Decision concerning the territory development at 3 Balasta dambis, Riga, was
taken following the Real Estate Investment Development Strategy of SIA “LASCO
Investment” for 2009 - 2014, whose main objective is effective management of
assets, creating maximum added value for shareholders.
After assessing such factors as the present condition of business centre
“Daugava” (previously known as “Press House”), strategies for its most
effective short-term and long-term utilisation and potential for added value,
SIA “LASCO Investment” decided to initiate the development process of this real
estate asset with the aim to ensure its successful trading in the future along
the lines of the Real Estate Investment Development Strategy for 2009 - 2014.
This property will be developed in line with the long-term goals of the city of
Riga set out in its Development Plan, taking into account the significance and
heritage value of the city's waterfront panorama, skyline and their perception
area.

The Riga City Development Plan permits the development of business and public
areas in this territory. This development should ensure the functional
expansion of the centre of Riga with a new business building, development of
public structures, creation and enhancement of the central accentuated city
skyline group. The conception of this territory development plan will be
developed in close cooperation with the responsible authorities of the City of
Riga.
Larry Oltmanns has participated in project development across five continents,
concentrating on architecture design landmarks that significantly improve the
urban environment quality. The hallmarks of these projects are their impressive
size, focus on strategic planning, combination of innovation and harmony in
urban environment design and guaranteed long-term financial results for the
owners.
The architect's portfolio includes over 60 completed and current projects. The
most notable of them are Finsbury Avenue Square in London, Adelaide Convention
Centre, Korea World Trade Centre, Hong Kong Convention Centre, United Gulf Bank
building in Bahrain, NATO Headquarters in Brussels, Rondo ONZ in Warsaw, master
plan of Euston Station redevelopment in London, design and development of many
other urban planning objects (more detailed information about Larry Oltmanns's
experience and offer is available at http://vx3arch.com/lko02.html).
The Management Board Chairman of “LASCO Investment” Raitis Nespors pointed out:
“As a real estate asset management company, we have a priority to increase the
asset value, thus guaranteeing added value for shareholders. This work also
means cooperation with city authorities and experts in the areas of
architecture and real estate, whose involvement is indispensable for successful
project development.”
The chief architect of the City of Riga Janis Dripe acknowledged: “This
territory is important for the City of Riga both visually and functionally,
which is why we appreciate that constructive cooperation with the city
architectural services has been initiated at the very start of the process.
This cooperation will ensure that the interests of the city and Rigans are
taken into account and at the same will give a better understanding of the
UNESCO requirements for the development of quality city environment that is
acceptable for all the parties involved.”

About LASCO Investment
SIA “LASCO Investment” is a subsidiary company of Joint Stock Company “Latvijas
kugnieciba” (Latvian Shipping Company - LASCO), which carries out the
administration and management of LASCO's real estates in conformity with the
objectives set out in the Real Estate Development Strategy: maximum
profitability from investments, maximum added value and maximally profitable
sale of investments when the real estate market situation becomes stable. For
additional information, please visitwww.lk.lv.

About VX3 (Larry Oltmanns)
Architecture office “VX3” (architects, strategists, urban designers) was
founded by Larry Oltmanns, whose portfolio includes over 60 completed and
current projects. The company successfully combines the improvement of urban
environment quality with the development of financially successful projects,
which meet the interests of contracting authorities. For additional
information, please visitwww.vx3arch.com.

About Cushman & Wakefield
“Cushman & Wakefield” is a reputed international real estate consultation
company, running its business in more than 50 countries worldwide. The company
offers services in the area of commercial properties, servicing international
corporations, pension funds, developers, entrepreneurs, government authorities
and financial institutions. For additional information, please
visitwww.cushwake.com.


For more detailed information:
Marita Ozoliņa-Tumanovska
AS "Latvijas kuģniecība"
Manager of PR & Advertising Department
Telephone +371-67020120, 29287169
[email protected]

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