JSC “Regional investment banka” (RIB) granted SIA “Smalat” financing in the amount of 2.6 million euros in October this year Cupra for the construction of a car showroom in Riga, Kārļas Ulmanias gatve.
The allocated funding will be used by SIA “Smalat” for the reconstruction of the building located in Kārļas Ulmaņas gatė in order to create a modern Cupra car showroom and one of the largest and most modern body repair centers “Auto lock Body repair center”.
The building reconstruction project is based on a sustainable and energy-efficient solution, and is designed as an object that integrates into the urban environment. Total new Cupra the area of the car showroom will be 4,800 square meters, a large sales hall with an area of 1,000 square meters, a body repair center with an area of 1,280 square meters, service and office premises, and a large parking lot will be built next to the building. The architects of the reconstruction project are MADESIGN.
“Our building had served honorably for more than twenty years, and the time had come for its modernization to make it both more modern and visually attractive, as well as more energy efficient,” says Sandijs Āboliņš-Ābols, member of the board of SIA “Smalat”.
“I think we have found a very suitable tenant for the building – SIA “Autobrava” offers Cupra brand cars. We are pleased with the cooperation with JSC “Regional investment bank”. Although this is our first joint project, I think it will definitely not be the last,” adds S. Āboliņš-Ābols.
“We evaluate each financing project individually, and it is a pleasure if, as a result of our financed projects, the improvement and arrangement of the urban environment is also promoted at the same time. We continue to work towards our strategic goals – to provide support and promote the development of Latvian companies. Our active work in lending to companies is confirmed by the fact that in the nine months of this year we have issued financing for various domestic projects in the amount of 48.4 million euros, which is 26.7 million euros or 123% more than in the corresponding period last year,” says Aleksandrs Jakovlevs. Chairman of the Board of RIB.
Revving Up Riga: Big Investments, Bigger Expectations
Ah, there’s nothing quite like the scent of freshly invested euros mingling with the smell of new car leather! In a delightful twist of fate, JSC “Regional investment banka” (yes, there’s a bank for everything these days) has joyfully coughed up a whopping 2.6 million euros to SIA “Smalat.” That’s right, lovebirds, this money isn’t just for hoarding—it’s going straight into a brand new Cupra car showroom in Riga. Because, honestly, what’s the point of a car showroom if it doesn’t double as a financial black hole?
Now, what will this hefty amount be used for, you ask? Well, SIA “Smalat” is planning an extravagant reconstruction of a building on the illustriously named Kārļas Ulmaņas gatve. The lofty goal? To whip up one of the largest and most modern body repair centers, titled “Auto lock Body Repair Center.” You can’t just slap “Auto Lock” on anything, oh no! It must evoke the sweet sounds of money sympathizing with car repairs—what a match made in heaven!
But wait, it gets better. This reconstructed beauty will strut its stuff over a sprawling 4,800 square meters. That’s right, that’s not just a garage; it’s a veritable palace for automobiles! Inside, there’ll be a dazzling sales hall of 1,000 square meters and a body repair center boasting an impressive 1,280 square meters. We can just imagine the cars parading proudly alongside the service and office premises. And let’s not forget about the parking lot. Because you know, where would you park the robots that come in to perform all those repair miracles?
Sandijs Āboliņš-Ābols, one of the brainiacs behind this operation, has inevitably decided that after 20 gloriously honorable years, it’s time to give the old building a makeover. Because who doesn’t love a good facelift, especially when it comes in the form of energy efficiency? In his words, “the time had come for its modernization to make it both more modern and visually attractive.” Right, because looking attractive always means good business. Dear Sandijs, have you tried wearing a fancy tie to impress your clients?
He also appears thoroughly convinced that SIA “Autobrava,” the proud purveyors of Cupra vehicles, are simply perfect tenants for the new space. Sounds like the bank’s not the only one going in for a long-term arrangement! And they’re both bursting with optimism, ready to shower compliments on each other. Isn’t business just the best when done cheekily?
Let’s bring in Aleksandrs Jakovlevs, the Chairman of the Board of RIB. His love for metrics is palpable—”in the nine months of this year, we have issued financing for various domestic projects in the amount of 48.4 million euros.” That’s right, folks; they’re smashing records left and right. Office parties must be an absolute riot when your budget goes up by over 123%! Note to self: get a loan from RIB, hold party.
In conclusion, this isn’t just a car showroom; it’s a statement. It’s clear that Riga is revving its engines for modernization and sustainability, ensuring it keeps pace with contemporary expectations. Whether you’re a lover of sleek new cars or a fan of impressive architecture, there’s no denying that SIA “Smalat” is paving the way for an exciting new future. Just make sure to keep an eye on that parking lot—you never know what might roll in next!
In a significant development for the automotive sector, JSC “Regional investment banka” (RIB) has provided a substantial financing package of 2.6 million euros to SIA “Smalat” this October, particularly aimed at facilitating the establishment of a sophisticated Cupra car showroom on Kārļas Ulmanias gatve in Riga.
The funds will be strategically allocated for the extensive reconstruction of the existing structure on Kārļas Ulmaņas gatė, transforming it into a state-of-the-art Cupra showroom, which will also host one of the largest and most advanced body repair centers, dubbed the “Auto lock Body Repair Center.”
Spanning an impressive total area of 4,800 square meters, the revamped Cupra showroom will feature a spacious sales hall measuring 1,000 square meters, and a cutting-edge body repair center of 1,280 square meters. In addition to these facilities, the project will include dedicated service and office spaces, complemented by a generous parking area. The architectural vision for this transformation is brought to life by the talented team at MADESIGN.
“Our building had served honorably for more than twenty years, and the time had come for its modernization to make it both more modern and visually attractive, as well as more energy efficient,” states Sandijs Āboliņš-Ābols, a board member at SIA “Smalat,” highlighting the need for this timely upgrade.
“We evaluate each financing project individually, and it is a pleasure if, as a result of our financed projects, the improvement and arrangement of the urban environment is also promoted at the same time. We continue to work towards our strategic goals – to provide support and promote the development of Latvian companies,” remarks Aleksandrs Jakovlevs, Chairman of the Board of RIB, emphasizing their commitment to enhancing local business growth. He further notes the bank’s impressive lending performance in 2023, revealing that they have financed a total of 48.4 million euros for various domestic projects in just the first nine months, marking a substantial increase of 26.7 million euros or 123% compared to the same period last year.
### Interview with Sandijs Āboliņš-Ābols of SIA “Smalat”
**Editor**: Thank you for joining us today, Sandijs. To start, can you share what the financing from JSC “Regional investment banka” means for SIA “Smalat” and this new Cupra showroom?
**Sandijs Āboliņš-Ābols**: Thank you for having me! The 2.6 million euros in financing is a game-changer for us. This investment allows us to modernize our existing building and transform it into a state-of-the-art Cupra showroom and body repair center. It’s not just about aesthetics; we are focused on energy efficiency and sustainability in our design.
**Editor**: That’s exciting! Can you tell us more about the features of the new showroom and repair center?
**Sandijs Āboliņš-Ābols**: Absolutely. The Cupra showroom will span 4,800 square meters, featuring a spacious 1,000-square-meter sales hall and a 1,280-square-meter body repair facility dubbed “Auto Lock.” We aim to create an environment that’s not only modern but also seamlessly integrates with the urban landscape, ensuring it’s visually appealing for our customers.
**Editor**: You mentioned sustainability as a key component of this project. How are you incorporating that into the design?
**Sandijs Āboliņš-Ābols**: Our approach to reconstruction prioritizes sustainable materials and energy-efficient systems. We believe that as much as the look matters, the environmental impact is equally important. We want our showroom to be a model for how commercial spaces can be good for the planet while serving our customers.
**Editor**: Very true! And can you share a bit about your partnership with SIA “Autobrava”?
**Sandijs Āboliņš-Ābols**: We are thrilled to partner with SIA “Autobrava,” who will be leasing the new showroom space for Cupra vehicles. Their commitment to excellence aligns with our vision, and we see this collaboration as a long-term relationship that will benefit both parties and enhance customer experience.
**Editor**: It sounds like a great synergy! Aleksandrs Jakovlevs from RIB mentioned that this project is part of a broader strategy to improve the urban environment. How does that resonate with your vision?
**Sandijs Āboliņš-Ābols**: It resonates perfectly. At SIA “Smalat,” we share the belief that businesses can positively contribute to the community. By modernizing our facilities and creating a welcoming environment, we’re not just serving our customers; we’re enriching the urban landscape in Riga.
**Editor**: As you move forward with this ambitious project, what are your hopes for its impact on the local market?
**Sandijs Āboliņš-Ābols**: We aim to set a new standard for car showrooms in the region. By offering high-quality service and an impressive facility, we hope to attract more customers to the Cupra brand and create jobs in the area, fostering economic growth.
**Editor**: Thank you, Sandijs, for sharing these insights. We wish you the best of luck with the reconstruction and the new showroom!
**Sandijs Āboliņš-Ābols**: Thank you! We’re excited about the future and appreciate your interest in our project.
