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International Internet Magazine. Baltic States news & analytics Wednesday, 19.06.2019, 10:53

Hili Properties completes acquisition of Dole shopping mall

BC, Riga, 03.01.2019.Print version
Maltese-based property investment company Hili Properties has completed acquisition of Dole shopping mal lin Riga, BC learned from the company.

Hili Properties’ strategic portfolio includes properties in Malta, the Baltic states and Romania, and the properties include specialized business buildings, luxury retail premises and real estate properties housing McDonald’s restaurants.

As reported, Premier Estates LTD, a company associated with restaurant chain McDonald's, a sister company of Hili Properties, has acquired Tirdzniecibas Centrs Dole, the sole owner and developer of the Dole shopping mall in Riga, according to Lursoft data.

McDonald's restaurants in Latvia are run by Premier Restaurants Latvia, a sister company of Premier Estates LTD, according to the company's last annual report. Maltese citizen Carmelo Hili, CEO at Premier Restaurants Latvia, is the true beneficiary at Tirdzniecibas Centrs Dole.

The three-storeyed Dole shopping mall has a floor space of 8,000 square meters and houses more than 60 tenants, including Rimi, Olympic casino, Hesburger, Drogas and other retailers.

Previously Norwegian company AMD Holding was the sole owner of Tirdzniecibas Centrs Dole.

Hili Properties in 2017 earned EUR 3.36 mln in net profit, up 76.3% from 2016, while the company’s turnover was EUR 6.337 mln growing 3%.

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