New shopping mall opened in Rīga

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KS Holding, a real estate company owned by Finland's Kesko and its Lithuanian partners, is opening the Ozols shopping center in Riga on July 25. 

The company has completed the first stage of redevelopment of the former Galerija Azur shopping center. The acquisition and redevelopment cost it 35 million euros in total. KS Holding plans to invest over 100 million euros in the three Baltic countries by 2022.  

It plans to open a new-concept K Senukai DIY store at the complex after completing the second stage of the redevelopment in the fall. 

The project is being financed by Luminor and carried out by Lithuania's construction company Litana.

Finland's Kesko owns 50 percent of shares in KS Holding, and the other 50 percent is held by Kesko Senukai President Arturas Rakauskas and the investment group Zabolis Partners. 

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