Good for Business, Investments, Latvia, Real Estate

He said that purchase of Dole shopping mall in early 2019 was a good business opportunity.

"Dole was built many years ago and changes are necessary," he said, adding that renovation works might start soon and should be completed in three years.

"It is a large shopping center, therefore there will be much work. Its floor space is 16,000 m2, but currently only 8,000 m2 are used," he said.

Asked whether Hili Ventures plans to purchase another shopping center in Latvia or elsewhere, Hili said that the company already owns several shopping centers in the Baltics and some of them are being developed.

As reported, Maltese-based property investment company Hili Properties completed acquisition of Dole shopping mall in Riga in early 2019.

Premier Estates LTD, a company associated with restaurant chain McDonald's, a sister company of Hili Properties, acquired Tirdzniecibas Centrs Dole, the sole owner and developer of the Dole shopping mall in Riga.

Previously Norwegian company AMD Holding was the sole owner of Tirdzniecibas Centrs Dole.