Business news from Ukraine

Business news from Ukraine

Overview of office real estate in Riga by Relocation

In 2024, the office real estate market in Riga demonstrates stability, supported by economic growth and increased business activity. Despite the moderate pace of construction of new business centers, the demand for modern office space remains high, especially in the city’s central districts and business zones.

Rental prices in different districts of Riga

  • Thecenter of Riga ( Old Town, Kr. Barona Street, Brivibas Street):
  • The most prestigious business centers and historic buildings converted for office use are located here. The average rental price varies from €12 to €20 per m² per month, and in the top premium locations – up to €25 per m².
  • Skanste (modern business district):
  • A rapidly developing business area with modern office buildings and convenient infrastructure. Average rental rates are €10-18 per m², and in new Class A properties they can reach €22 per m².
  • Purvciems, Teiki, Imanta (residential areas):
  • These districts offer more affordable options for small and medium-sized businesses. Office rental prices here range from €7-12 per m², making them attractive for startups and small companies.

Trends and forecast until the end of 2025

  • Growing demand for flexible office space
  • Coworking and short-term office space continues to gain popularity, especially among IT companies and freelancers.
  • Limited new construction
  • The pace of commissioning of new business centers remains restrained, which supports the level of prices, especially in the central areas.
  • Stability of rental rates
  • Office rents in Riga are expected to remain stable until the end of 2025, with possible minor adjustments depending on the economic situation and demand in key business zones.

Thus, the office real estate market in Riga continues to develop, remaining attractive to occupiers, especially in modern business centers and flexible office spaces.

Source: http://relocation.com.ua/ohliad-ofisnoi-nerukhomosti-ryhy-vid-relocation/

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KLITSCHKO: RIGA HANDED OVER 11 PASSENGER BUSES TO KYIV

11 modern passenger buses from Riga and humanitarian aid have arrived in Kyiv, Mayor of the Ukrainian capital Vitaliy Klitschko said.
“Friends! Today, our Latvian partners, a delegation from the Riga Mayor’s Office, donated 11 modern passenger buses to Kyiv as assistance. And also humanitarian aid,” the mayor of Kyiv wrote on his telegram channel on Saturday.
Klitschko thanked Vice Mayor of Riga Edwards Smiltens for his visit to personally convey this assistance. “For us, this is evidence of Latvia’s solidarity with Ukraine, its capital, with the Ukrainian people in our struggle for our independence and freedom,” he said.
Each bus has a print of a symbolic hugging mural created in Riga by a Latvian artist.
The city authorities of Riga are considering the possibility of transferring more than 30 buses to Kyiv.

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LATVIA’S AIRBALTIC TO LAUNCH FLIGHT FROM LVIV TO RIGA

Latvia’s airBaltic will launch direct regular flights on the Riga-Lviv-Riga route from April 1, 2019.
Accordig to the booking system, airBaltic will operate flights between Riga and Lviv four times weekly: on Mondays, Wednesdays, Fridays and Saturdays from Riga and on Tuesdays, Thursdays, Satrudays and Sundays from Lviv.
The round trip ticket prices start from EUR 130.
airBaltic also flies to Kyiv and Odesa.
airBaltic connects the Baltic region with 70 destinations in Europe, the Middle East, and the CIS. The state of Latvia owns 80.05% of the airline, and Aircraft Leasing 1 holds 20%.

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