The year 2017 for SIA Velve has been rich in growth and challenges, and in general it can be assessed as successful. Last year the tendency of increased company turnover each year was retained. Within the last five years it has tripled, and also 2017 has brought an increase in turnover. During the last year SIA Velve has implemented a number of extensive projects not only in Latvia, but also beyond its borders. Among the most significant projects the rebuilding and renovation of VEF Culture Palace should be mentioned, as well as the renovation of the facade and the construction of an outbuilding of the Latvian National Theatre, the construction of Rīgas Bioenergy Boiler House at Rencēnu Street, the construction of a DEPO store in Lithuania and other objects.

“When assessing changes in the construction market last year, it should be noted that the market has become quite stressful. At this time the number of orders has increased significantly, as well as construction costs have grown substantially, which does not provide a safe and confident look into the future. And the burning lack of workforce has become increasingly apparent – currently market participants have to fight with each other to acquire the workforce so essential for their companies. Recent tax reform has also affected the field, as well as other measures which are targeted at organising the market, including the electronic recording system, changes in the laws of personal data protection, the planned general agreement of construction and other political issues,” the Chairman of VELVE Board Ainārs Leitēns comments.

When looking into the future, despite various market challenges, this year promises to be as productive for SIA Velve as the last, and the tendency of increased turnover will be retained. Also this year Velve is also working on a number of significant projects, for example the reconstruction of the Tukums Court House, the construction of an AMALVA plant, the construction of the DEPO store in Lithuania, the reconstruction of the SWH Office building, the construction of a historical new building Villa Milia in Jūrmala and other projects.