Riga, Latvia

Work on building the largest industrial park in the Baltic States, Dominante Park, will begin in June of this year in the Ķekava Parish, right alongside the Via Baltica highway.  It will be the first such park in Latvia to satisfy all A class industrial requirements.  

“The real estate market in any country eventually arrives at the point when morally and physically out-of-date facilities no longer allow entire market segments to develop in a normal way.  In the sector of warehouses and industrial facilities, this situation occurred in Scandinavia in the 1970s, in Germany in the 1980s, and in Central and Eastern Europe in the 1990s.  That had to do with the rapid development of technologies and global business, and it is clear that the time has come for the situation to be changed in the Baltic States, too.  There must be a project which takes on the role of the flagman so as to help companies to pursue market opportunities and to satisfy all market demands over the next 15 or 20 years.  We are very pleased that we are taking part in the development of just such a project from the very beginning, and we are prepared to adapt our international experience to the needs of the Baltic region so as to increase the level of development to a truly competitive height,” says Mihails Morozovs, managing partner for Colliers International Baltic States.  

“We understand that we are undertaking enormous responsibilities in working on a project of this scope – total investments will amount to approximately LVL 70 million (EUR 100.7 million).  Before drafting the concept for Dominante Park, we studied the most distinguished and most modern industrial parks in Central and Eastern Europe, focusing on the best solutions, the ones which are most appropriate for Latvia.  Consultations were offered by the distinguished Burksgreen architectural firm, which is the best architectural firm in the design of industrial parks in Great Britain.  It has extensive experience in this particular segment of the real estate market,” says Roņu ieleja board member Arnolds Koņevņikovs.  Roņu ieleja was established specifically to handle the Dominante Park project.  

“I am very pleased that the largest A class industrial park in the Baltic region will be built here in Latvia. There is a great deal of demand for high-quality and conveniently located industrial facilities with a developed infrastructure. Latvia is beginning to develop new ‘greenfield’ parks, which demand greater investments than reconstructed ‘brownfield’ parks. I think that the construction of Dominante Park will represent a significant investment in Latvia’s economic development, because it will make it possible for international companies to enter the Latvian market and to receive high-quality logistical services,” says the chief of staff to the Latvian economics minister, Guntis Gūtmanis.  

“Dominante Park is a major project, and that is why it was important for the developers to attract an experienced source of financing. Hansabanka is Latvia’s leading bank, and the experience and qualifications of our employees allow them to be good partners in working on such a major project. The new industrial park will resolve a problem that is important in the manufacturing sector at this time – a shortage of high-class facilities and technologies,” says the director of Hansabanka’s Corporate Services Department, Valdis Mitenbergs.  

Dominante Park will be located on the side of the Via Baltica highway (A7/E67), not far from the Rīga ring road (A5).  65 hectares of land will be used for the project, and they are located just 20 km from Rīga – the geopolitical and business centre of the Baltic region.  

The first phase of the building project will involve the construction of 35 000 m² of manufacturing and warehouse facilities.  Eventually, this will expand to 250 000 m² of such facilities.   

Work on the first phase is to be completed by December 2006, with total investments of LVL 10 million.  Overall investments over the course of five times will amount to some LVL 70 million.  Financing for the project is provided by Hansabanka, and the blueprints for the project have been drawn up by architects from the ARHO firm.     

Primary parameters of A class industrial facilities  

A class industrial facilities are greenfield projects which correspond to the following parameters:

• Ceiling height of 10 m (the pure, useful height)
• Depth of 60-65 m (15 m for unloading, the rest for storage)
• Network of columns:  12x24 m, 18x12 m, 18x18 m, 24x18 m
• Load capacity – 5 tonnes per 1 m²
• Manoeuvring area – 33-35 m (distance from warehouse gates to road
• Number of gates – one per 500-1,000 m² of warehouse space

Colliers International in the Baltic Region

With 250 offices in 50 countries Colliers International is the largest and most experienced real estate company in the Baltic region. Today Colliers International operates in all three Baltic States (Latvia, Lithuania and Estonia), challenging the region’s real estate sector by serving as a unique “one-stop” real estate agency providing its customers with a full range of services in commercial real estate, including the implementation of investment projects in the real estate sector, lease and sales of offices, retail and warehouse premises, as well as conception development, research and market analysis, consulting, real estate property valuation and other services.

About Colliers International

Colliers International is a global partnership of independently owned commercial real estate firms. The organization's 9,327 employees span the world in 241 offices in 54 countries. On a worldwide basis, Colliers manages 595,725,580 square feet, and has revenue of $US 1,442,478,223. For more information about Colliers International, visit our website at www.colliers.com.

Contact Information

Margita Otto

Director of Marketing & PR Department

Colliers International, Baltic States

Tel.: (+371) 7783305

Mob. tel.: (+371) 29173173

Fax: (+371) 7783334

E-mail: m.otto@colliers.lv

www.colliers.com, www.colliers.lv

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