KS Holding, a real estate company owned by Finland's Kesko and its Lithuanian partners, opened the Ozols shopping center in Riga on Friday.
© Kesko Senukai Lithuania

The company has completed the first stage of the redevelopment of the former Galerija Azur shopping center. The acquisition and redevelopment cost 35 million euros in total. KS Holding plans to invest over 100 million euros in the three Baltic countries by 2022.

It plans to open a new-concept K Senukai DIY store at the complex after completing the second stage of the redevelopment in the fall.

The project is being financed by Luminor and carried out by Lithuania's construction company Litana.

Finland's Kesko owns 50 percent of shares in KS Holding, and the other 50 percent is held by Kesko Senukai President Arturas Rakauskas and the investment group Zabolis Partners.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.

Japan plans to involve in Baltic synchronization project

The Baltic states, which are gearing up for the synchronization of their power networks with those...

Lithuanian researchers developed new technology for precision grinding

A team of researchers at Kaunas University of Technology (KTU) has developed a novel approach to...

Real estate tax expansion amendments returned to government

The Seimas of Lithuania lacked several votes on Tuesday to accept a proposal to expand the real...

Energy minister: Lithuania to do all it can to bar Belarus' N-plant electricity

Energy Minister Zygimantas Vaiciunas says Lithuania will take all possible measures to bar market...

Initiative to tax bank assets stalls in Lithuanian parliament

The Lithuanian parliament decided on Tuesday not to debate – at least not for now – a proposal to...