We are pleased to announce that, with the €2.5 million financing granted by Swedbank, we have the opportunity to continue the development of “Grīziņdārzs” by creating a modern office and retail complex that will also serve as an inspiring lifestyle hub. This ambitious project is being implemented in collaboration with the renowned architectural firm “Open Architecture Design,” led by the internationally recognized architect Zane Tetere-Šulce.

The industrial buildings on the former “Rīgas Adītājs” factory site are being transformed while preserving their historical charm and highlighting architectural details such as large windows and factory loft design elements. As a result, a unique working environment is created, where historical heritage is seamlessly integrated with modern solutions.

The main goal of “Grīziņdārzs” is to preserve and highlight the cultural and historical value of the neighborhood while modernizing infrastructure and creating an environment that serves both business and community activities. In the future, the area will offer opportunities for cultural and public events, making it a dynamic gathering place. Swedbank’s financing is being invested in building renovations, green space restoration, and infrastructure improvements, creating an attractive and sustainable district for both residents and businesses.

“Supporting initiatives that revitalize urban spaces to benefit the local community should be a priority for every business. Grīziņkalns is a unique part of Riga with a rich history, and transforming old industrial areas into attractive spaces for entrepreneurs not only revitalizes unused territories but also makes Riga more beautiful. We are proud that Swedbank is part of this transformation, and this project is a great example of how innovative ideas and careful planning can come together to create a dynamic and appealing environment” says Jevgenijs Ivanovs, Head of Swedbank’s Corporate Division and Member of the Board.

Andrejs Stolbuškins, head of RA Invest, emphasizes: “The ‘Grīziņdārzs’ project is more than just real estate development for us—it is our contribution to Riga and the Grīziņkalns neighborhood. We see this place as an opportunity to bring life back to an area that has been silent for decades. It is about respecting history and blending it with future visions. We want to create a space where people feel inspired—both those who work here and those who simply come to enjoy this place. Thank you to Swedbank for believing in this vision. Together, we are not just restoring buildings but also creating new energy throughout the entire district.”

The “Grīziņdārzs” office and retail complex features eight buildings spanning over 16,100 square meters, offering inspiring spaces for businesses across various industries. These spaces are designed to meet diverse needs while maintaining high levels of comfort and incorporating modern industrial architectural and interior design solutions. This center not only enhances the urban environment but also provides a green and well-organized space for the city’s residents.