Good for Business, Latvia, Markets and Companies, Real Estate

"2011 was the first year after the crisis when all the indices improved – the number of shoppers, the number of purchases and the average purchase amount – at all of our shopping centers," says Budlevskis.

The situation has been improving gradually – more than a year ago, the number of purchases began to increase, later the average purchase amount, and finally the number of visitors, informs Budlevskis.

Commenting the projections for 2012, Budlevskis notes that currently growth at Linstow shopping malls is predicted at 3% to 7%, writes LETA.

The economic situation in Latvia is stable, and any unexpected changes are unlikely, emphasizes Budlevskis. He hopes that the current European-level problems will also be solved successfully.

Much will depend on banks' operations and whether they will continue to be as forthcoming to shopping centers as they were during the crisis.

Linstow operates five "Galactico" shopping malls in Latvia: "Galerija Centrs", "Mols", "Origo", "Dole", "Alfa", as well as the largest shopping mall in Estonia – "Ulemiste". The total area of Linstow shopping centers in Latvia is 230,000 square meters, and in the entire Baltics – 275,000 square meters. The company has invested more than EUR 200 million in the development of its Baltic shopping malls.