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International Internet Magazine. Baltic States news & analytics Thursday, 23.01.2020, 17:20

Sirin Development starts building industrial park outside Riga

BC, Riga, 02.04.2019.Print version
The Baltic industrial and commercial real estate company Sirin Development has launched the first stage of construction of the Sirin Industrial Park in Stopini municipality just outside Riga, with investments in the project planned at EUR 45 mln, BC was told at the company.

The company’s representatives informed that the Sirin Industrial Park will be one of the largest industrial parks in the region. After the completion of the first stage of the project, the park will offer warehouses with a total area of 22,360 square meters. The company plans to invest more than EUR 45 million in the development project.


The class A and A+ Energy Efficiency industrial park with a total area of 16 hectares will be located on Maskavas Street, next to the main A6 motorway. The planned area of the buildings will be approximately 80,000 square meters. Previous developments by the company include logistics parks in Olaine (2008) and Ventspils (2011).


“With an investment of EUR 45 mln, the new industrial park will become one of the largest logistics centers near Riga. Although the completion of the park will take up to 2 years, the company wants to expand its development product portfolio and is actively scouting for new opportunities in and near Riga," said Sirin Development CEO Laurynas Kuzavas.


“We are pleased that the investors have chosen and purchased an industrial building area in Stopini district. New jobs will be created and the company will provide sustainable development and growth for the county and Latvia as a whole. The municipality is a cooperation partner for business and, thanks to joint effort, we will achieve the goals and objectives that have been set, and overcome any challenges. I wish the company good luck and rapid growth and development," said Stopini council chairperson Vita Paulane.


Sirin Development has a real estate portfolio of more than 270,000 square meters in Lithuania, Latvia and Russia. The company started operations in 2005 and has become a leader in industrial real estate development and management. It has professional experience in developing storage complexes, shopping centers and office buildings.






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