BALTIC HOTEL MARKET MOVES BEYOND PRE-PANDEMIC LEVELS
Hotel performance across the Baltic capitals has surpassed pre-pandemic levels, driven by stronger international demand. Summer occupancy exceeded 85% in Rīga, Tallinn and Vilnius, while seasonality remains a challenge.
Source: CPB Group
DATA
SKANSTES REZIDENCES COMPLETED IN RĪGA
The €14 million residential project in Skanste has been completed, adding 67 apartments across two eight-story A-class energy-efficient buildings. Designed by Estonian architecture studio Salto Architects, the development also includes rooftop terraces and underground parking.
Source: Invego Latvia
PROJECTS
RĪGA SEES DECLINE IN AIR QUALITY
Air quality has deteriorated in Rīga, with weather conditions and increased emissions contributing to higher pollution levels. The municipality is advising sensitive groups to limit prolonged outdoor activity and monitor air-quality conditions.
Source: Riga City Council
NEWS
NEW RESIDENTIAL PROJECT TAKES SHAPE IN LIEPĀJA
Construction has begun on Liedaga8, a new residential project just 150 metres from the Baltic Sea in Liepāja. Developed by Inspiration Capital, the 5,400 m² project will offer apartments averaging 85 m², with completion planned for early 2027. The building will meet A+ energy-efficiency standards.
Source: Liedaga8
PROJECTS
NORDIC INVESTMENT BANK EXPANDS IN RĪGA
The Nordic Investment Bank is moving into a larger 210 m² office at Origo One as its operations in the Baltics grow. The new space marks the next stage of NIB’s regional presence, which began in Rīga in 2023.
Source: Nordic Investment Bank
NEWS
VILNIUS CONGRESS CENTRE MOVES INTO DESIGN PHASE
Vilnius has signed a design contract with IMPLMNT Architects for its long-planned Congress Centre. The 31,500 m² venue will include a 2,000-seat main hall and spaces for up to 4,400 participants. Design work is expected to be completed in 2028.
Source: Vilnius City Municipality
PROJECTS
INTERNATIONAL ARCHITECTS INVITED TO SHAPE RĪGA AIRPORT SITE
SIRIN Development has launched an international architecture competition for a 22-hectare site near Rīga Airport. The competition will cover the site’s masterplan, architecture, logistics, transport and public spaces, with the winning concept guiding its future development.
Source: SIRIN Development
NEWS
VILNIUS INVITES RESIDENTS TO NAME ITS NEW BRIDGE
A new wooden pedestrian and cycling bridge over the Neris is nearing completion, with construction expected to finish by the end of the year. Residents can submit name ideas until October 16, while the bridge will connect A. Goštauto and Upės streets.
Source: Vilnius City Municipality
TRANSPORT & INFRASTRUCTURE
RĪGA GETS THE BALTICS’ LARGEST 3D SCREEN
A 214 m² 3D display has been unveiled on the façade of Origo in central Rīga. Its curved design creates a 3D effect visible from several major traffic flows, bringing a format associated with London, Tokyo and New York to Rīga.
Source: Origo
NEWS
CAPITAL MILL ACQUIRES THREE SHOPPING CENTRES IN RĪGA
Estonian real estate company Capital Mill has acquired TC Dole and two shopping centres on Stirnu iela and Nīcgales iela, expanding its portfolio in Rīga. The properties span more than 25,000 m², with Rimi as the anchor tenant. Renovation works are planned at Dole and Nīcgales.
Source: COBALT
NEWS
