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International Internet Magazine. Baltic States news & analytics Tuesday, 23.10.2018, 06:27

Akropolis borrows EUR 106.5 mln for Riga mall construction

BC, Riga/Vilnius, 07.12.2017.Print version
Akropolis Group, a Vilniaus Prekyba Group company that operates Akropolis malls in Lithuania, is borrowing 106.5 million euros from SEB Bank for the construction of an Akropole shopping center in the Latvian capital of Riga, cites LETA/BNS.

Latvia's M257, the Akropole project developer that is part of the group, will on Dec. 8 sign an agreement with SEB on the financing of the construction of the Riga mall, Akropolis Group said in a press release.

"Construction work on Riga's Akropole is going according to plan and (...) is slated for completion in January 2019," Saule Zabulionyte, chairwoman of the management board at Akropolis Group, said in a press release.

The construction work is being performed by Latvia's Merks, a subsidiary of the Merko Ehitus Group, and Lithuania's Mitnija. Around 200 million euros will be invested in the project in total.

Akropolis Group owns real estate development and lease companies in Lithuania, Latvia, Estonia and Bulgaria, as well as the restaurant operator Delano.

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