Summus Capital invests over €8 million in new retail development in Riga

Estonia-based real estate investment group Summus Capital is investing more than €8 million in a new retail property next to Rīga Plaza, one of Riga’s largest shopping centres.

The project will add 3,800 square metres of retail space, with Rimi and Dino Zoo announced as tenants. The development is scheduled to open by the end of 2027 and will operate independently of the existing shopping centre.

The project also includes 340 parking spaces, electric vehicle charging facilities and improved road access from Bieķensalas Street. Latvian construction company EKOTEH BŪVE has been contracted to design and build the property.

Founded in Estonia in 2013, Summus Capital owns commercial real estate across Estonia, Latvia, Lithuania and Poland. The group has expanded its Polish portfolio through major acquisitions while continuing to invest in selected Baltic properties.

The Riga development illustrates this approach: expanding beyond the Baltic market while maintaining investment activity in the region where the group originated.

Sources: Summus Capital announcement · Summus Capital portfolio overview.