Wednesday, April 15, 2026

Headlines

construction industry

To buy or to wait? How to decide whether an apartment under construction is the right choice

Buying a home is one of the most important financial decisions in a person’s life, and most people are especially cautious when choosing an apartment that is still under construction or even before construction work has begun. This is a step that is often described as a risky lottery. Buyers most frequently worry about whether the building will really be constructed and completed on time, whether the promised result will match reality, and most importantly – […]

A residential quarter worth 32 million will be built in Jugla

Real estate developer Kaamos has started construction of the Riiti residential quarter at 11 Juglas Street in Riga. The project will feature five modern, nearly zero-energy apartment buildings ranging from four to nine storeys high, located near Lake Jugla. An investment of 32 million euros will be made in the implementation of the project, and its construction will be carried out by the Kaamos Group construction company Kaamos Construction. The residential quarter is planned to be completed by […]

CC: In the Construction Cartel case, the Supreme Court unjustifiably restricts cooperation between law enforcement authorities

The judgment of the Supreme Court Senate’s Department of Administrative Cases in the construction cartel case has raised significant issues regarding cooperation between law‑enforcement institutions, the transfer of lawfully obtained evidence for the detection of cartel agreements, and the effective application of competition law, the Competition Council states. Respecting the Senate’s decision, the Competition Council (CC) emphasizes that in its judgment the Senate did not assess the existence of the prohibited cartel agreement on the merits and did not analyze that without […]

A loan of 19 million is granted for the further development of the Verde office complex

Rietumu Bank has issued a 19-million-euro loan for the further development of the Verde business quarter (1 R. Hirša Street, Riga), which envisages the construction of a new C building in addition to the two existing ones, where office space is already fully leased. The new stage of Verde’s development is expected to be completed in the second quarter of 2027. Verde is being developed by the investment management company Capitalica Asset Management, […]

A top 25 million euro residential design center

An unique project is being created in Riga – Aura Quarter, which will be the largest interior, design, and home furnishing retail quarter in the Baltics. It will unite more than 60 different brands and service providers, with the total area of the buildings in the first 2 stages of the quarter reaching 15,600 m², and the third stage will add approximately another 7,000 m². The total project investment amounts to 25 million euros, with financing provided by Bigbank. Aura […]

Industrial construction – the real economic indicator

One of the most accurate barometers of Latvia’s economic health is industrial construction – the development of factories, warehouses, logistics centers, and agricultural infrastructure. These facilities are not built impulsively. They are created only when developers – entrepreneurs – feel safe and stable in the long term. Such projects require lengthy planning, large-scale investments, and confidence that business development will be stable not only today, but […]

Construction workers want a higher minimum wage – 1155 euros

The Latvian Construction Sector Trade Union wants to increase the minimum wage in the sector by 10% – to 1,155.64 euros per month. The minimum wage set by law in the country is 740 euros per month. The trade union reminds that currently the minimum wage in the construction sector is determined by a general agreement that has been in force since 2019. At present, the general agreement stipulates a monthly minimum wage of 1,050 euros and an hourly rate of 6.29 […]

The infamously notorious “Siltumserviss Rīga” operators are also involved in the engineering communications builders’ cartel

In the engineering communications companies’ cartel, two groups of companies can be distinguished – those based in Riga and those based in Rēzekne – which mutually coordinated their activities in 33 procurement procedures, most of which were procurement tenders by various municipal property management authorities. In Riga, these companies are SIA Adapteris, SIA Alpex and SIA Infrakom, while in Rēzekne – SIA Siltumtehserviss and SIA Apkure IM, said the acting chair of the Competition Council at a press conference […]

New construction cartel uncovered: Illegal agreement links five companies

The Competition Council has adopted a decision establishing a cartel among five construction companies. In fines, the companies together will have to pay more than half a million euros. The Competition Council promises to reveal the names of the companies tomorrow – on 11 September – but for now it discloses that the illegal agreement has affected more than 30 procurements throughout the territory of Latvia. The Competition Council identified the first construction cartel in 2021. At that time […]