International Internet Magazine. Baltic States news & analytics
Tuesday, 24.01.2017, 07:09
Apranga, the Baltics' leading clothing retailer that is controlled by MG Baltic, is building a new office and logistics center in the northern part of Vilnius, close to the city's new western bypass, with MG Valda, the developer of the Vilnius Business Park where the center will be located, set to invest 14 mln euros in the project, writes LETA/BNS.
Keyword tags: Baltic, Good for Business, Investments, Logistics, Markets and Companies, Real Estate
UAB Merko statyba, a company of Merko Ehitus group, has started construction work on the Rinktines Urban residential development project in central Vilnius.
The Ventspils city council in northwestern Latvia will borrow EUR 435,000 for the construction project of a multifunctional innovation center, LETA learned from the council.
Rimi Baltic retail company is set to announce next week a new project providing for construction of a logistics center for EUR 75 mln, the company's representatives said LETA.
A new investor of the multifunctional Porto Franco complex in the Estonian capital's harbor area is businessman Oleg Ossinovski who has signed a contract for the establishment of a mortgage worth 7.8 mln euros for the plots, according the weekly Eesti Ekspress reports informs LETA/BNS.
Last year investments in commercial real estate property in Latvia for the fourth consecutive year exceeded EUR 300 mln, Colliers International consultancy informed BC.
Park Inn by Radissontoday announces the opening of a new, 178-room hotel in Riga. The Park Inn by Radisson Valdemara, Riga, the latest addition to The Rezidor Hotel Group’s portfolio, is located at the entrance of the Old Town.Just, a company representative told BC.
Like in previous years, the overall supply of apartments for sale in Riga plunged in December 2016, dropping by 20.7% from the previous month, Arco Real Estate said in its latest housing market review.
The estimated cost of the first round of Mezaparks Grand Stage reconstruction has increased to EUR 23 million, while spectator capacity is to increase to 30,000, as Austris Mailitis and Juris Poga, the authors of the reconstruction project, said LETA during a presentation of the project today.
Latvian construction company Merks has started a residential development, Gailezera Nami, in Mezciems area in Riga, Estonia's Merko Ehitus, the parent company of Merks, said in a statement to the Tallinn stock exchange.
- The growth of the Latvian real estate market, which started over the past couple of years, should continue also in 2017, with property prices likely to climb by 6-7%, Aigars Zarins, CEO of Balsts real estate company, told LETA.
Completing the reorganization of Pillar Investment Group, which is part of ABLV Bank’s real estate development and trade group Pillar, its name has been changed to New Hanza Capital, the company’s representatives informed.
he decision taken by Sweden's ICA Gruppen, the operator of Rimi Lietuva grocery retail chain in Lithuania, to buy the Iki retail chain for 213 million euros may benefit consumers, however, the value is rather low, analysts say. In their words, the relatively low price of the transaction shows that Iki lost the competition battle and has lost interest to its owners, writes LETA/BNS.
Acquisition of the Iki grocery retail chain of 235 stores in Lithuania will make Rimi Lietuva the second-largest market player with nearly a fourth of the market, which will enable it to boost competition and offer lower prices for consumers, Rimi Baltic CEO Edgar Sesemann says LETA/BNS.