Territory outlook for the expansion of large scale shopping centres in Latvia
2010
Staube, T., SJSC Latvijas Pasts, Riga (Latvia). Dept. of Finance | Geipele, I., Riga Technical Univ. (Latvia). Faculty of Engineering Economics and Management. Inst. of Building Entrepreneurship and Real Eastate Economics
The present paper has an analytical and informative character on the chosen theme. The authors clear up the meaning and importance of territory concept in large-scale shopping centres as real estate object allocation planning. The authors have applied the theoretical and practical knowledge synthesis for the analysis. The general statistics was the basis for the macroeconomic situation overview. Market potential calculation was made based on the analytical data of the international scale. Official real estate data and publications, and Riga Real Estate Market studies served as basis for the analysis on microeconomic level in the current scientific paper. The carried research results on the level of market saturation of large scale shopping centres in Riga are compared with the situation in other European countries from 2007 to 2015. According to the present research real estate market of large-scale shopping centres has reached the saturation phase in Riga; however for Latvia there is a certain potential to attract new markets and new opportunities. The researchers have found a surplus of large-scale shopping centres' commercial leasable area in the medium-term, and thus they suggest developing new real estate objects professionally and attracting interest of the international partners for opening business in the territory of Latvia.
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