International Internet Magazine. Baltic States news & analytics
Tuesday, 17.01.2017, 10:55
Last year investments in commercial real estate property in Latvia for the fourth consecutive year exceeded EUR 300 mln, Colliers International consultancy informed BC.
Keyword tags: Analytics, Financial Services, Funds, Good for Business, Investments, Real Estate
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.
A court has granted a request from Lithuania's State Territorial Planning and Construction Inspectorate to annul the construction permit, issued back in 2008, for the so-called Moscow House in Vilnius, reports LETA/BNS.
According to Statistics Estonia, in the 3rd quarter of 2016, the Dwelling Price Index changed by 3.4% compared to the 2nd quarter of 2016 and by 7.4% compared to the 3rd quarter of 2015.
Of the three Baltic capitals, housing affordability only increased in Riga in the third quarter of 2016 as compared to the same period last year, according to the latest Swedbank Baltic Housing Affordability Index (HAI).
Northern Horizon Capital AS (the Management Company) as the management company of Baltic Horizon Fund (the Fund) announces acquisition of Piirita shopping centre, BC informed Baltic Horizont Fund representative.
stonian tycoon Hillar Teder, the founder and majority owner of the Ukrainian development company Arricano, transferred 49 percent of the shares in his company Filgate Credit Enterprises Ltd. to Arricano to settle a debt of 39.8 mln USD.
Being unable to sell upper-class apartments in downtown Riga, their owners have started to offer the apartments for rent, therefore rent in downtown Riga has declined 15-20% this year, LETA said Latio real estate company’s board chairman Edgars Sins.