YIT Lietuva has recorded another active quarter in the housing market, but is monitoring signs of market stabilization
Sustainable real estate development and construction company YIT Kausta is on the way to implementing its first project in Latvia. The company that has already carried out a great number of similar projects in Lithuania has signed the contract with Rimi Group to execute construction and reconstructions works of RIMI warehousing premises in Riga The project includes construction of the part of new extended premises and warehouse office as well as reconstruction works of existing buildings.
Construction works of Rimi retail network warehousing and distribution centre at Augusta Deglava Street are scheduled to begin in upcoming January and the project is expected to be completed by the second part of the 2020.
“It will be the biggest Rimi storage facility in Latvia and will supply centrally sourced goods to Lithuania and Estonia. The main reason for building the new facility was our need to increase the efficiency and flexibility in daily processes as well as making our operations more environmentally friendly”, stated Valdis Turlais CMD Rimi Latvia.
The total area of these premises will be 59 000 square meters, while the total area of new Rimi Baltic logistics centre will be more than 84 000 square meters. After the implementation of the logistics centre project, Rimi warehouse premises in Augusta Deglava Street will be increased three times, allowing it to become the central logistics point for Rimi store network in the Baltic States.
“Our experience in implementing similar projects in Lithuania is great, so we have no doubt about the success of the project in Latvia. Loyalty of our customers abroad shows that our expertise and reputation are valued outside the borders of the country as well. Expansion of geographic locations of company’s activities allows us to take the advantage of new opportunities and strengthen our position across the Baltics,” said Kęstutis Vanagas, CEO at YIT Kausta.
Constructions currently being implemented by YIT Kausta in Lithuania include business centres Duetto and 3 Burės, residential houses Raitininkų sodas and Matau Vilnių located in Vilnius, Šilo namai and area development project of Piliamiestis in Kaunas, residential houses 9 Bijūnai in Klaipėda, business centre at Karalius Mindaugas Avenue in Kaunas, industrial and warehousing building and medical equipment factory in the territory of Kaunas FEZ, and warehousing premises for Philip Morris Lietuva in Klaipėda.