Property adviser Colliers International has been selected by the city authorities of the Latvian capital Riga to dispose of 40 hectares of land at auction.
Property adviser Colliers International has been selected by the city authorities of the Latvian capital Riga to dispose of 40 hectares of land at auction.
The 40 hectares are spread over 22 vacant plots located next Riga International Airport.
Once privatised, the plots can be used for various development projects. Initially, these land plots were intended for building a regional exhibition and conference centre.
Colliers International said the land is located next to an arterial road in the capital and the largest air traffic hub in the Baltics.
The plots will be sold in an oral auction with an open ascending price on 14 March.
The auction is aimed at selling all of the land plots together as a whole. To achieve this, Colliers is planning a marketing campaign to attract foreign investors. Privatisation laws also stipulate the land plots may be sold individually.
The auctions will be held on 14 March 2013. Applications can be submitted by 27 February 2013.
For more information see the auction section of Colliers International's Latvian website (see below). A profile of Riga is available on CityLeaders, a joint initiative between MIPIM and PropertyEU.
