Piche investing EUR 130 million in developing six new industrial parks

Real estate developer Piche has launched a major expansion of industrial infrastructure in the Riga region, investing EUR 130 million in the construction of six new industrial parks. In total, more than 145 000 m² of modern warehousing, office and production space is planned.

With these new projects, the company is significantly expanding the coverage of its operations, making its first significant foray into the Dreiliņi and Valdlauči areas. Three of the projects will continue to be developed in Mārupe, Piche's traditional region of operation, while the other three – two in Dreiliņi and one in Valdlauči – mark a shift in the company’s strategic course towards a greater variety of locations in the Baltic region.

“Currently, with our new projects we cover three of the main industrial locations in Riga – the Lubāna Street corridor, Dreiliņi and Valdlauči – thus providing our clients with the opportunity to choose the location bst suited for their business development,” Pēteris Senkāns, Chairman of the Board at Piche, explains.

Strategic locations

Due to the concentration of logistics centres located in Dreiliņi, this area is becoming an increasingly sought-after location for industrial developers. Piche is planning two parks here, one of which will include a 15 000 m² “stock office”, a broadly functional complex with warehousing, office and retail functions in a single building or complex of premises. This enables companies to carry out all business processes in one place, from receiving and storing goods to sales and administrative management.

The park will be located next to the Rimi Logistics Centre, providing high visibility and access to the A7 motorway. The other industrial park entitled Next Park will offer 35 000 m² of modern industrial space in a strategic location close to the IKEA and Lidl logistics centres.

Valdlauči, which is also becoming an important logistics hub, is attractive due to easy access to the country’s main A7 motorway. Piche plans to build another 35 000 m² industrial park here, including warehousing and stock office solutions.

In Mārupe, where the company already has extensive experience in developing industrial facilities, three more industrial parks will be built with a total area of more than 60 000 m².

Supporting Latvian businesses

Piche is one of the leading developers of industrial and commercial properties in Latvia. Until now, the company has focused on the development of industrial buildings, warehouses, logistics and office premises, but in recent years it has also expanded its activities into the residential segment. The company’s activities continue to focus on the construction and management of industrial parks.

“Last year we welcomed 60 new clients to our industrial parks. This year we aim to increase this number, thus continuing to contribute to the growth and competitiveness of Latvian businesses,” Mr Senkāns says.

With these projects, Piche is not only expanding its presence in Riga’s industrial market but also contributing significantly to the development of Latvia’s business infrastructure by offering modern, sustainable and strategically located premises for companies in various industries.