Linstow Centre Management has launched its 250,000 m[sup]2[/sup] Riga Retail Park development to coincide with the annual Mapic retail real estate trade fair in Cannes. The property development company, which focuses on North Eastern Europe, said it would be the largest retail development under single ownership and management in the Baltic States.

Linstow Centre Management has launched its 250,000 m2 Riga Retail Park development to coincide with the annual Mapic retail real estate trade fair in Cannes. The property development company, which focuses on North Eastern Europe, said it would be the largest retail development under single ownership and management in the Baltic States.

Riga Retail Park will offer furniture, DIY, home centre, hypermarket and big box retail, as well as a 60,500 m2 shopping and entertainment centre. Construction will be begin in late 2008 with the first units opening in autumn 2010.
The park will have a catchment area of one million shoppers within a 30-minute drive. Located on the main route 10 km to the east of Riga and 2 km from Jurmala, it will also attract shoppers from Estonia and Lithuania. Letting agents for the scheme are DTZ and Jones Lang LaSalle.

Frode Gronvold, Linstow president and CEO commented: 'Riga Retail Park will be different from anything else seen in the Baltic States today. This park opens up the opportunities to attract new international retail chains, whilst also providing new possibilities for retailers that are already active in the Baltic region.'

Riga Retail Park is the newest development opportunity to be undertaken by Linstow, the development and management company which already has 275,635 m2 of shopping centre space in the Baltic States. Linstow began working in the Baltic region in 1996 and opened its first retail development Dole in 1997. The company has since invested a total of EUR 200 mln in the shopping centre sector in the Baltics. Linstow, which is owned by Norway's Anders Wilhelmsen Group, is also developing its own Reval Hotels chain in Eastern Europe.