Real Estate & Property Awards 2019

BUILD 2019 Real Estate & Property Awards 8 9 Part of that care comes from the developer’s desire to ensure that they have cut no corners in the building of Z Towers. Towers Construction Management have made sure that Latvian law has been followed perfectly, with due diligence, fire safety, life safety, and structural integrity all meeting the standards of both experts and various health department requirements. By collaborating with local and international experts, Z Towers is comprised of the very best possible design and engineering solutions, using the latest technology in construction. More than just secure, Towers Construction Management have made sure that the building itself is also efficient in all aspects. The team is professional in various fields of real estate, and each member brings unique experience and expertise. This synergy of specialised talent collaborating on a new project in a new location has culminated in a truly outstanding building of architectural and internal wonder. Along the way, this network of talent has together unearthed new ways and trends of creating unique eco-system spaces, inventing new levels of experience and knowledge. This new knowledge fed intrinsically into what Z Towers has become. Towers Construction Management know that recent and future trends within real estate mean that ease, comfort and mobility define the future of the market more than traditional real estate. People are on the move more and more, working online from home and communicating with businesses around the globe. Communal spaces where people work, educate, relax, communicate, and collaborate in one complex are more sought-after than ever before, and Z Towers is at the forefront of addressing that trend. However, it has not all been plain sailing for Towers Construction Management, and the wider real estate industry across Latvia. In 2016, the Latvian government began working on new regulations regarding the calculation and application of real estate tax. To try and protect real estate developers’ interests prior to the introduction of these increased taxes, the firm formed the public organisation, National Real Estate Developers Alliance. Since then, the Alliance has represented developers interests by communicating needs and desires to all involved institutions and stakeholders, including the nation’s government. As a result, tax reform was postponed until 2021 whilst it is revised, and Towers Construction Management were a huge part of that. Not content to rest on their laurels however, the firm and the Alliance are working on new legislative initiatives to ease residential rent market regulations, providing more protection to landlords against tenants who are purposefully not fulfilling their financial obligations. In the years since, and after years of slow-paced development, Riga and the surrounding regions are now facing greater demand for quality projects that will accommodate companies aiming to provide for their employees and clients. Z Towers is an active part of addressing this need, as a pioneer of innovative spaces for both residents and businesses. Looking to the future of Z Towers, developers are keen to ensure that the residential and business sides of the towers are filled with quality tenants who will drive the project forward and help establish it as a place of premium lifestyle and business potential. Once revenue flow has been stabilised and the future of the towers has been secured, Towers Construction Management are looking to develop adjacent territories in more landmark destinations. Delivering on all this and so much more has resulted in Z Towers becoming a destination hub for the city of Riga. Not just for inhabitants of the city as it was, but for new and exciting guests and businesses who are seeking to be a part of a pioneering movement across the Baltic region. Towers Construction Management have created a landmark project that stands tall and proud, showcasing to the world exactly what is capable through collaboration, innovation, and dreaming big. Company: AS Towers Construction Management Contact: Alexey Kuchvalsky Telephone: +371 27020509 Email: [email protected] Website: www.z-towers.com