New Europe Real Estate

New Europe Real Estate has sold majority stake in Biroju Centrs Ezerparks, managing State Revenue Service administrative office complex


2016, 25th January

Development of State Revenue Service (SRS) administrative office complex has been one of the most sizeable public-private partnership projects realized in the Baltics. The project has served the objective to consolidate SRS departments under one roof and in order to improve organizational efficiency. Total building gross leasable area to SRS and other commercial tenants equals to 42 000 m2. The project has involved construction of a number of specific premises and application of cutting edge innovative technological solutions to conform with specific requirements of SRS related to its operational activity, as well as to ensure high energy efficiency in the building (high capacity data centre, customs laboratories, archive premises, security systems, energy efficiency tehcnologies).

“Development of an efficient partnership with different governmental institutions in development of such a complex and technologically challenging project has been an invaluable experience for NERE. Wide interest of international investors towards the property, which we have observed after commissioning of the building, ascertains the high quality of construction and compliance with best practice in commercial building construction and energy efficiency standards.” – Janis Stakens, Member of the Board of New Europe.

“Biroju Centrs Ezerparks” (BCE) was established with objective to realize construction and management of the administrative office complex for State Revenue Service in Riga, Talejas street 1. SIA „Mežaparks SPV”, one of New Europe Real Estate Ltd. group companies, owned 68,5% in the joint venture in partnership with Governmental Jsc “State Real Estate”. Sale of majority stake in BCE to the minority shareholder Jsc “State Real Estate” has been verified by Cabinet of MInisters and signed on 29th of December, 2015.    

More information about the project 


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