Financial Services, Latvia, Real Estate

International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 16:03

Latvia: Land Fund has acquired 218 properties for EUR 15 mln in ten months

BC, Riga, 19.11.2019.Print version
The Land Fund of the Development Financial Institution Altum in the first ten months of this year acquired 218 land properties, spending EUR 15 million in total on these purchases, Altum representatives informed LETA.

The total area of the acquired land properties is 5,200 hectares, including 134 properties in an area of 3,000 hectares acquired in a contract on rent and buyback of the property.


Land Fund head Ina Alksne said that compared to the same period a year ago, land property transactions significantly increased in the first ten months of this year. In the first ten months of 2018, the Land Fund spent EUR 8.7 mln on 150 new properties with the total area of less than 3,000 hectares. 


Currently the Land Fund portfolio has 647 agricultural lands in an area of 13,000 hectares, and the total investments in them reach EUR 36 mln, while 240 properties in an area of 5,150 hectares have been acquired in contracts on rent and buyback of the property.


The Land Fund of Latvia launched operations on July 1, 2015. The fund was created in order to promote the agricultural land's protection, availability and preservation, as well as efficient and sustainable use thereof at a national level.






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