Friday, June 5, 2026

Headlines

public infrastructure

Estonia’s market leader Ühisteenused acquires Cityparks Latvia

From 23 December 2025, the sole owner of Cityparks Latvija has become the Estonian parking operator AS Ühisteenused, which has acquired 100% of the company’s share capital. The financial terms of the transaction are not being disclosed. AS Ühisteenused is a market leader in Estonia, managing and supervising more than 1,000 paid parking lots in eight cities, including both open parking areas and multi-storey parking complexes. “Ühisteenused’s experience and […]

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 […]

Matryoshkas may not be sold only at the Central Market; at the Town Hall Square – they may.

Matryoshkas, or nested wooden dolls that were targeted late last year by Riga’s Deputy Mayor Edvards Ratnieks, have disappeared from Riga Central Market but are freely available in souvenir shops right under the nose of Riga City Council. Inc. confirmed this on site after a market vendor drew attention to this injustice. She complained that the municipal leadership “has nothing to do and only knows how to deal with […]

New technology will help prevent power grid overload

To streamline the management of production and consumption capacity in the power grid, the Latvian energy technology startup Engycell, in cooperation with AS Sadales tīkls, has developed an innovation – a Battery Energy Storage System (BESS) algorithm that enables dynamic management of BESS charging and discharging decisions depending on the real-time situation of the distribution transformer in the power grid. The aim of the pilot project is to find new solutions for how to use digital technologies to efficiently utilize all […]

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, […]

The enchanted cycle of heat

The heating season is just around the corner, and residents of Riga will again pay more for heat. Politicians, who face Saeima elections next year, have suddenly set about trying to reduce heating tariffs in Riga, but their little blanket of populism is more likely to tear than to reach the goal – all because short-term solutions have been made the priority for their own aims and interests, instead of tackling the root of the growing problem. However banal […]

Latvenergo has borrowed 400 million – the first part of the planned billion

Latvenergo has been successfully raising funds through bond issues since 2012. This year, the company is taking a step further by issuing eurobonds, i.e. entering the international market. With strong demand, Latvenergo has placed 400 million euros in bonds. Total demand from 140 investors exceeded the target amount by 5.5 times. Over the next two years, the company plans to borrow up to an additional 600 million euros in this way. How […]

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 […]

Latvenergo, by borrowing, plans to reduce the price of electricity

Latvenergo, which from next year must pay 90% of its annual profit into the state budget instead of the current 70%, will borrow up to one billion euros over the next three years. Contrary to some suspicions, the money will be invested in renewable energy projects, not in buying out Tet and LMT, Inc., explains the company’s Director of Communications, Andris Siksnis. After the announcement distributed by Latvenergo on 31 October that the company […]

Billions at work – Latvia’s EU funds puzzle

Twenty years in the European Union have significantly transformed Latvia’s economic environment: roads and bridges have been built, laboratories and industrial parks established, public services digitalized, as well as energy systems modernized and upgraded. Since accession in 2004, approximately 18 billion euros of EU funding have been invested in Latvia in several thousand projects – an amount that domestic resources alone could not provide. The main question now is […]