250,000 m² scheme targets international retailers
Linstow Center Management, one of North Eastern Europe's leading property development companies, is launching the biggest retail development under single ownership and management in the Baltic States. Riga Retail Park in Riga, Latvia will be launched at the annual MAPIC conference in November (14th 16th) and will become one of the region's largest retail developments.
Riga Retail Park, which spans 250,000 m², offers a wide range of opportunities, including furniture, DIY, home center, hypermarket and big box retail. Also included in the development is a 60,500 m² shopping center and entertainment center. The retail park will be constructed in phases with the first units available in Autumn 2010.
Ideally located on the main route 10 km to the east of Riga and 2km from Jurmala, it provides a catchment area of some 1million shoppers within a 30 minute drive time. Riga Retail Park will also be attracting shoppers from Estonia and Lithuana.
Frode Gronvold, Linstow president and CEO commented: "Riga Retail Park will be different from anything else seen in the Baltic States today. This Park opens up the opportunities to attract new international retail chains, whilst also providing new possibilities for retailers that are already active in the Baltic region. Riga Retail Park will become the largest retail park under single ownership in the Baltic States and Linstow is looking forward to this new challenge."
The construction will begin in late 2008. Letting agents for the scheme are DTZ and Jones Lang LaSalle.