Business IKEA plans to build a shopping center next to...

IKEA plans to build a shopping center next to it

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The construction plan envisages the construction of a new shopping center on an undeveloped plot of land of approximately 14.4 hectares, Smaidu Street in Dreiliņi, Stopiņi District, which will be separated from a larger plot of land as a result of a detailed plan. The shopping center complex would consist of two separate buildings – the main building, as well as the garden goods store building.

The main building is planned to be built one to four storeys high, its main function is a retail building with separate groups of rooms for other ancillary functions – catering, sports, entertainment and also offices. The second building is designed to be one storey high, its function – a retail building (garden goods store). The approximate total floor area of ​​both buildings is about 59,000 square meters.

In addition, the construction plan envisages the acquisition of the entire territory of the land plot by building the necessary infrastructure for the shopping center – engineering network entrances, parking lots for the center’s customers and staff, internal roads and supply areas, as well as complex landscaping and landscaping.

Taking into account that the planned object is a public building of regional significance with a large number of visitors and its construction solutions must be solved complexes with the development and operation of several both undeveloped and already built-up adjacent territories, Stopiņi municipality on June 27, 2018 issued a detailed work plan for the development of a land unit at Smaidu Street 18, Dreiliņi, Stopiņi municipality.

The owner of the current 29-hectare plot of land is the owner of the supermarket IKEA SIA “Verus Preadium Latvija”. In accordance with the purchase agreement registered in the Land Register, the developer of the shopping center “Riga Retail Park” has purchased the projectable plot of land from Verus Preadium Latvija in July 2018, but according to the terms of the purchase agreement, the plot will become fully owned by Riga Retail Park only after the detailed planning force and real separation of the plot.

“Riga Retail Park” has entered into a joint design and build services agreement with JSC “UPB” for planning, construction design and also construction services for the construction of a shopping center.

The public discussion of the detailed planning project and the construction plan of the shopping center will take place until March 10, 2019.

“Firmas.lv” information shows that “Riga Retail Park” was registered in October 2017 with a share capital of 2,900 euros. “Riga Retail Park” has been operating without turnover for the time being, but in 2017 it suffered a loss of 18,580 euros

The sole owner of the company is SIA Venturecorp Property Holdings Baltics, which is owned by the Cypriot company Telerosa Holdings Co. Limited (59.4%), Canadian citizen Berijs Teodors Nabūrs (39.6%) and the Chairman of the Board of Riga Retail Park Artūrs Šukis (1%).

Canadian citizens Nabur and Gary James Torpee have been identified as the real beneficiaries of Riga Retail Park.

Torpejs has been operating in the Latvian real estate market since 2010 and until now was the head of the real estate development group Homburg Group in the Baltic States, including the head of the collapsed Zolitūde shopping center developer Homburg Zolitude.

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