NEW NORDALE DISTRICT TAKES SHAPE ON RIGA FILM STUDIO SITE
Developer Invego has opened Nordale Pagalms, a community space that will introduce future residents to the new Nordale neighbourhood even before construction begins. The €38 million first phase will transform part of the historic Riga Film Studio site into four residential buildings with 159 apartments and commercial premises, with completion planned for 2028.
Source: Invego
NEWS
€45M FABRIKA PROJECT BREAKS GROUND
The former Riga Dairy Factory is set for a new life. VPH Group has begun construction of the FABRIKA mixed-use quarter with an investment of €45 million. The project will offer 20,000 m² of retail, fitness, healthcare and leisure space. Around 60% of the premises have already been leased. Opening is planned for early 2028.
Source: VPH Group
PROJECTS
YIT TO BUILD LEOPARD TANK FACTORY IN LITHUANIA
Lithuania is expanding its defence industry. YIT Lietuva will build a 13,000 m² assembly and maintenance facility for Leopard 2A8 tanks in the Kaunas Free Economic Zone. The €29 million project is expected to be completed in late 2027 and create up to 100 jobs.
Source: YIT
PROJECTS
LATVIJAS MAIZNIEKS TO EXPAND PLANT WITH €12.8M INVESTMENT
Latvia’s largest bread producer is expanding its manufacturing capacity in Daugavpils and will install new production equipment. The company’s exports grew by 44% in 2025, supporting further expansion across European markets.
Source: Latvijas Maiznieks
PROJECTS
BALTICOVO TURNS SOVIET-ERA BUILDING INTO STAFF HOUSING
Balticovo has invested more than €2 million to convert an unfinished Soviet-era building in Iecava into housing for around 120 employees. The project aims to attract specialists from across Latvia while giving a new purpose to a long-abandoned structure.
Source: Balticovo
PROJECTS
BALTIC HOME PRICES FAR OUTPACE EU AVERAGE
Housing prices in the Baltic states have risen much faster than the EU average over the past five years. According to Eurostat, prices increased by 79% in Lithuania, 58% in Estonia and 51% in Latvia, compared with 26% across the European Union.
Source: Eurostat / Luminor
DATA
RIGA TO REVAMP HISTORIC ĢERTRŪDES STREET
Riga will begin reconstructing Ģertrūdes Street between Krišjāņa Barona and Aleksandra Čaka streets in August. The €1.24 million project includes new pavements, upgraded sidewalks, raised pedestrian crossings, street furniture and new trees, while preserving the street’s historic character.
Source: Riga City Council
TRANSPORT & INFRASTRUCTURE
FORMER VEGETABLE PAVILION TO BECOME A MEAT MARKET
By spring 2027, the former Vegetable Pavilion of Riga Central Market will be adapted for meat trading. During the reconstruction of the Fish Pavilion, fish vendors will also relocate there temporarily.
Source: Rīgas nami
PROJECTS
MEDIEVAL ARTEFACTS FOUND DURING TORŅA STREET RECONSTRUCTION
Archaeologists uncovered a rich collection of 16th–18th century artefacts during the reconstruction of Torņa Street near the Arsenal Museum. The project also includes new drainage infrastructure and public space improvements.
Source: VNĪ
NEWS
