Project update

Update from the originator:

Starting from 29.03. Bauskas development project is in the refinancing stage. This means another successful exit is approaching for the investors – as the project is ahead of schedule and the project will be repaid before its maturity day. The originator would like to congratulate everyone that took part in this project.

As of today, the project has been paying monthly interest without any delays. The originator expects the principal repayment to happen during the coming weeks. Also, It depends on the speed of the Latvian Notary to make this transaction.

Update from the developer:

• The roof works are prepared and waterproofing works are being prepared;
• The staircase from the parking lot to the rooftop exit is completely ready;
• Technical equipment of the elevator and the exit to the rooftop is completely ready;
• The formwork has been delivered;
• The blocks for masonry walls of the first floor has been imported and are ready to be used; 

New pictures of the progress have been added.

Update from the developer:

During the past month, the team of constructors built the 2nd floor and started work on the 3rd floor of the Bauskas residential complex. As of today, the project is 1,5 months ahead of the planned schedule which is considered a great sign.

New photos of the progress have been added.

Video of the development of the project.

Update from the developer:

Here are the updates of works that have been executed so far:

For the -1 level and underground parking:

• Renewed the construction pit surface with concrete layer 60 cbm of concrete;
• Constructed the rain sewer and elevator shafts, using 5 cbm of concrete;
• Prepared for concrete slab – reinforcement mesh binding;
• Concreted the concrete slab, using total  358.50 cbm of concrete;
• Bound the column mesh and concreted column, using 59 cbm of concrete;
• Bound the basement/parking wall mesh and concreted, using 59 cbm of concrete;
• Formworks for ground-level ledges, meshed and concreted, using 7 cbm of concrete;
• Ledged walls, meshed and concreted it, using 6 cbm of concrete;
• Overlapped the slab of the basement/parking, meshed and concreted, using, 133.5 cbm of concrete;
• Started the construction works for the 1st-floor columns – mesh, concreting.

Update from the developer:

After the city of Riga has approved all the permits, the construction works began. 
During the last couple of weeks, the developer did the following works:

• Renewed construction pit;
• Made an entrance for underground parking;
• Levelled the basis of construction pit and poured 400 m3 of concrete for a basis;
• Polished the basis and started to create foundation for the walls;
• Created elevator and drain shafts;

Wondering how Bauskas development project will look after it receives full funding? Let’s take a look. 

Update from the developer:

The Bauskas 1st development loan was issued in June, after the collateral was set in Latvian Notary. In July, the developer received the first interest payment from the developer (KIRSAN SIA) in time. Currently, this interest payment is not paid out, as the platform's technical side does not support yet the "dividend payment" option for development loan projects.