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International Internet Magazine. Baltic States news & analytics Wednesday, 27.05.2020, 18:41

Pro Kapital to invest over EUR 100 mln in Latvian projects

BC, Riga, 16.04.2019.Print version
Listed real estate developer Pro Kapital Grupp is planning to invest more than 100 million euros in project development in Latvia in the coming years, the company's spokesperson Anete Gribuste said LETA/BNS.

She said that in addition to the Kliversala quarter, Pro Kapital is now engaged in development projects of two other quarters in Riga. One of them is a quarter of buildings at 193 Brivibas Street involving a total investment of more than 30 mln euros, and the other is a quarter at 5/7 Tallinas Street involving an investment of 40 mln euros. 

Pro Kapital CEO Paolo Michelozzi said that Riga has great potential when it comes to the development of residential and office buildings.

Pro Kapital Grupp was established in 1994 and its shares are quoted on the Tallinn stock exchange. The company so far has completed about 20 projects with a total residential and commercial area of 250,000 square meters in Latvia, Lithuania and Estonia.

In 2018, Pro Kapital Grupp earned a profit of 18 million euros on sales of 28 million euros. 

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