Baltics industrial real estate developer to invest €100m in the city of Riga

Sirin Development, an industrial real estate developer, won an auction organized by Riga Municipality and signed a purchase and sale agreement for the acquisition of 39 hectares (96 acres) of land area for €5.6 million ($5.9 million) near the international airport of the capital city, where a 180,000-square-meter (1.9 million-square-foot) modern warehouse complex valued at more than €100 million ($105 million) is planned.

“The construction of modern and sustainable infrastructure is a critical component in transforming Riga into an internationally recognized Northern European metropolis. I am pleased that the auction for the development of the Mūkupurvas region was successful in recruiting a seasoned investor who shares our ideals,” said Mārtiņš Kokalis, Riga Investment and Tourism Agency's head of investment attraction. “Riga Investment and Tourism Agency is ready to continue providing the required support to the municipality for contemporary development of the