Representatives of fair organiser Messe Frankfurt, the city of Riga and business development agency HA Stadtentwicklungsgesellschaft signed a letter of intent at Mipim last week regarding the joint development of a new exhibition and convention centre in the Latvian capital.

Representatives of fair organiser Messe Frankfurt, the city of Riga and business development agency HA Stadtentwicklungsgesellschaft signed a letter of intent at Mipim last week regarding the joint development of a new exhibition and convention centre in the Latvian capital.

The agreement resulted from an official request made by the Riga municipal authorities to Messe Frankfurt. The city is to draw on the expertise of this global trade fair organiser in developing its new event grounds.

Messe Frankfurt is involved in the project in an advisory capacity. Its responsibilities range from the initial feasibility study and site analysis to market research and competitive comparisons as well as time and project planning and coordination during the implementation stage.

The company said it is also open to the idea of cooperation models for operating the new exhibition grounds and organising events. 'For Messe Frankfurt, it is essentially a question of strategically expanding business fields. Within the Baltic States, Riga is a particularly attractive city for trade and industry owing to its geostrategic location within the EU, its major seaport and its proximity to Russia,' said Uwe Behm, board member of Messe Frankfurt.

A new convention centre is to be built near Riga Airport. It will comprise 20,000 m2 and is designed to hold up to 3,000 visitors. There are also plans to extend the centre, initially by adding a modern exhibition hall with some 10,000 m2 of exhibition space.

The city of Riga is to make a 36-hectare site available for the complex.