Setting up house – without any major interferences

Industrial companies have different plans in the Baltic States. Every fifth Lithuanian industrial company considers the most important operational priorities of 2019 to be investments to increase production capacity as well as expansion abroad. Latvia’s big companies will focus on product and service innovation (22 per cent), while Estonia’s will concentrate on digitisation (19 per cent).

However, industrial companies that are becoming established or expanding first and foremost have to solve the problem of land plots. It turns out that there are no major difficulties in Lithuania or Latvia.

A selection of plots for industrial companies around the capital truly exists and no shortage is felt. Plots can be found in all of the main directions at exit roads from the city and on the main routes from the southern (Kirtimai, Vaidotai), western (Lentvaris, Dobrovolė, Rykantai) and northern (Maišiagala) parts of the city.

Obviously, the specific needs of the company have to be taken into account, because they are definitely different for each company. So upon narrowing down the query, the wide range of existing offers can shrink considerably and then the selection will no longer seem as wide.

For example, most companies feel it is very important that the plot have the specific communications that the company needs. So in choosing a plot for industrial companies, communications, access roads, and the shape and terrain of the land are very important aspects. A plot near the highway will not always have convenient exits and entrances. However, one of the most important factors is the price of the plot.

Warehousing and logistics companies lead in terms of the area of operation of companies that are being established.

Ober-Haus Commercial Department Expert Kaspars Korbs said that there are industrial land plots available in and around Riga. Especially in Kenagarags area, Krustpils iela, Maskavas iela, etc.

The question may be the price, as some find 20 EUR/sqm a bit expensive. There are offers in the market for 10-15 EUR/sqm., or less.

In 2018, in Riga region, there have been 33 purchases of commercial and industrial land, average size 7500 sqm., avg. price 6.8 EUR/m2. Out of these typical manufacturing was ca. 12 purchases, price ca. 7 EUR/m2.

In Riga, 54 purchases, avg,. size 5500 sqm, price 62 EUR/m2. Out of these typical manufacturing was ca. 10 purchases, price ca. 10 EUR/m2.

As for example, please see attached an industrial village offer in/near Riga.

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