Early this year, Stockmann Group made a decision to change its strategy and strengthen its position on the market, offering some of its premises for lease. To achieve this goal, the Real Estate Department of Stockmann commenced cooperation with international real estate consultancy company Colliers International Latvia.

As the first results, at the end of this summer two new tenants will open in the Stockmann department store. One of the largest chains of electrical appliance stores, Euronics, will offer a wide range of electrical appliances on the fourth floor. On the first floor, international café chain Costa Coffee will open its doors to clients in a second half of August. Currently, work is underway to implement a new concept and attract new tenants.

Stockmann Oyj Abp is a Finnish retail company, which owns shopping centres in the Baltics, Scandinavia and Saint Petersburg. Founded in 1862, its headquarters is located in Helsinki. Stockmann shares are quoted on the NASDAQ OMX Helsinki.

Colliers International has been operating in the Baltics since 2004 and provides a full range of services to its customers, starting from the development of an overall real estate concept, investment consultations and corporate services to project supervision, assessment, management and broker services. The influential finance magazine Euromoney declared Colliers International the best real estate consultancy company in Latvia in 2014 for the tenth year in a row.

ADDITIONAL INFORMATION

Konstantīns Rižovs, Associated Director | Brokerage, +371 26743219 or konstantins.rizovs@colliers.com

INFORMATION PREPARED BY:

Nadežda Ježova, Marketing Coordinator, +371 29520123 or nadezda.jezova@colliers.com