Estmak Capital Welcomes Lidl as the First Partner in Lāčplēša Quarter

  • 2024-04-05

Estmak Capital, the developer of Lāčplēša residential and business quarter near the Riga historical center announces its first partnership agreement with Lidl Latvija. The new Lidl store construction deal marks a significant milestone for the development of this area and Lidl’s expanding store network in Riga. 

Industrial quarter with high architectural demands

The industrial Lāčplēša quarter is rising within the protection zone of Riga's historic center, which is safeguarded by UNESCO. The entire quarter, including the new Lidl store, therefore has to meet high architectural demands.

The style of the former industrial quarter, developed by Estmak Capital, is carefully created by the renowned architects from DUAL arhitekti (Latvia) and Archunion (Ukraine). To create an authentic feel, the facades use imitation of historical bricks and stylishly restrained tones. To emphasize the area's history, a 19th century chimney will be left as a landmark in the central square.

Environment where people come before cars

The main pathway through the quarter is built around people, not cars. This inspiring idea is based on the Woonerf concept from the 1970s in the Netherlands, focusing on a lively and people-friendly urban space. Cars are allowed but the focus remains on pedestrians and cyclists.

Between the buildings there is also space for a central square, segmented with comfortable benches and green islands. Along with the surrounding cafes and small shops it forms a cozy town center. Existing trees are preserved and a year-round greenery is added everywhere.

Two-floor metropolitan concept Lidl store

Dana Hasana, Head of the Corporate Communications department at Lidl Latvija, expressed excitement about the fact that the planned Lidl store will bring additional activity to this part of Riga. “The new Lāčplēša street store will allow us to be closer to our many clients who live in this rapidly developing part of the city. With reverence to the industrial spirit of this area, we are glad to bring fresh energy into this quarter and to help elevate it to the next level. I’m certain that the residents of this quarter, and of the nearby areas will find the best quality and price ratio product offer in this beautiful Lidl store,” she says.

According to Estmak Capital's CEO Tatjana Arhipova, the deal with Lidl Latvija plays a huge role in the development of the whole quarter. "We are very glad to have such a strong, cooperative and forward-thinking partner on board. Their firm desire and clear architectural vision for the location have made our collaboration enjoyable and productive. We both like to try new things,” Arhipova said.

The deal between Estmak Capital and Lidl Latvija was mediated by a real estate company VPH.

50 million EUR investment and an award-winning development

The tradition-valuing quarter will include 600 apartments and 14,000 m² of commercial space. The development with an investment of nearly 50 million EUR has been nominated in the category of most ambitious future plans in the BRELF Awards, which evaluates Latvian real estate projects and initiatives.

The construction of the Lāčplēša quarter is planned to start this year and is expected to be completed within seven to ten years.