SIA “Marijas 2” Q3 2024 interim report and unaudited financial statements.
First nine months of year 2024 have been very productive for the company. The balance sheet has remained strong at over 71 million euros, a 7% increase from last year’s number. Fixed assets, which consist mainly of the capitalized development costs, have exceeded 68 million euros, a 14% increase from last year’s number. After commissioning of the buildings and transfer of the leased premises, turnover and EBITDA of SIA “Marijas 2” in 2024 have exceeded EUR 900 000 and EUR 400 000 respectively including over EUR 500 000 and EUR 250 000 respectively in Q3 2024. The company has raised sufficient funds to finance fitout of the leased premises with reserve and plans to keep attracting funds under the Program for the Issuance of Bonds in the total amount of up to EUR 50 000 000 with ISIN code LV0000803179 to fit out currently vacant premises after signing respective lease agreements.
Commissioning of the buildings in February and June was a crucial step in the development. After obtaining the usage permit for the whole complex, leased out premises have been handed over to the tenants according to the lease agreements. The final major step of the development, aside from the completion of fit-out works, will be rearrangement of the borders between Marijas 2 and Marijas 2a lands.
Since the beginning of the project over 82% of the total construction works have been completed. Construction works of the common areas and leased out premises are nearly done with minor repairs remain to be finished. Construction works on the recently leased out premises are being planned and start of the fitout is planned early next year. SIA “Marijas 2” continues development of the modern A-class office building Novira Plaza in collaboration with UAB Evernord Asset Management and SIA “Novira Capital”.
Strong work with tenants has resulted in nearly 50% of building occupancy. Tenants have increased their interest after commissioning resulting in eight premises, including two retail ones on the ground floor, being leased out this year. Few premises are under advanced negotiations with reputable tenants.
SIA “Marijas 2” Q3 2024 interim report and unaudited financial statements are attached to the announcement and published on NASDAQ Riga as well as web page of Novira Plaza https://noviraplaza.lv/en/investor.
About SIA “Marijas 2”
SIA “Marijas 2” was established in December 2020. It owns, develops and rents out a modern A-class office buildings in central Riga located at Marijas 2 and Marijas 2A named Novira Plaza. The building has been designed with an influence from historical city center and modern architecture. A unique seven-floor building accommodates 25 000 m2 of safe, convenient as well efficient offices and retail premises, underground levels fit spacious bike storages and 255 underground parking spaces. Novira Plaza has been built to meet the LEED Gold standard and has opened its doors to tenants and clients in Q1 2024.
For further information, please contact:
Nikolay Kryzhanovskiy
SIA “Marijas 2” member of the management board
Phone: +372 58 436 663
E-mail: noviraplaza@novira.lv
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