The transaction was closed on 30 November by acquiring 100% shares in SIA Delta Property, the holder of Alfa shopping center following approval by Latvia's competition watchdog.
“The expansion of shopping and entertainment centres is a challenge during the pandemic, so we are pleased that this successful transaction in Riga further strengthens our leading positions in the Baltic States in this area. Alfa is a very strong and popular shopping center in Riga, celebrating its 20th anniversary this year,” said Manfredas Dargužis, CEO of Akropolis Group.
Zane Kaktina, who has served as the Manager of Akropole Riga for two previous years, has been appointed as the head of the shopping center.
Alfa shopping centre is the first asset in the company’s portfolio not to have been developed by Akropolis Group itself, and Rīga becomes the first city where Akropolis Group will manage two shopping and entertainment centers.