aA
M.M.M. Projektai, a real estate company owned by Lithuanian businessman Nerijus Numavicius, plans to invest 200 million euros in Riga over the next few years, according to the vz.lt news website.
Nerijus Numavičius
Nerijus Numavičius
© DELFI / Mindaugas Ažušilis

The company has bought two land lots for investment, and a business centre of around 50,000 square meters might be built in one of them, and some 100,000 square meters of housing in another.

The company plans to develop the business complex in two stages and complete in 2023, and the housing development would be built in five stated by 2026, vz.lt reports.

M.M.M. Projektai has another land lot of 8 ha in Riga and plans to invest around 150 million euros.

As BNS Lithuanian reported earlier, Lithuanian real estate companies are increasingly directing their investment to Riga, with over 600 million euros worth of investment already planned.

Hanner has been active in Riga for the past couple of years, and Vilniaus Prekyba, another company owned by Numavicius, is building the Akropole shopping mall and also plans another project. Inbestment companies Lords LB Asset Management and Capitalica Asset Management's funds have also invested in land lots in Riga.

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

Lithuania plans to establish anti-money laundering competence center

Lithuania plans to establish an anti-money laundering competence center as the Nordic and Baltic...

Minister: direct EU payments to farmers should be capped at EUR 100,000

Direct EU payments to Lithuanian farmer s in 2021-2027 should be capped at 100,000 euros,...

To start or not to start fintech company during recession?

Microsoft, IBM, HP, Disney, FedEx, 3M. What do these companies have in common? They started their...

Lithuania asks Slovenia to hand over detained businessman Kucinskas

Lithuania's Prosecutor General's Office has asked Slovenia to hand over Vidmantas Kucinskas , the...

Sapoka: country's economy is withstanding pandemic challenges very well (1)

Lithuania's economy is coping very well with challenges induced by the coronavirus crisis, and the...

Top news

Lithuania plans to establish anti-money laundering competence center

Lithuania plans to establish an anti-money laundering competence center as the Nordic and Baltic...

Minister: direct EU payments to farmers should be capped at EUR 100,000

Direct EU payments to Lithuanian farmer s in 2021-2027 should be capped at 100,000 euros,...

President and staff isolate after member had contact with COVID-19-infected person

All staff members of the Lithuanian presidential office , including President Gitanas Nauseda, are...

Education minister pledges more focus on math after poor exam results

The poor results of this year's secondary-school graduation exam in mathematics have highlighted the...

Minister: key scenario is to start academic year normally

The key plan is to start the upcoming academic year normally but with extra security requirements,...

|Maža didelių žinių kaina