for New Expansion Plans in Latvia

Following the strong developing ties between Latvia and the UAE with the establishment of regional embassies in both countries, international company Multi Capital Holdings, Ltd. is eyeing to attract business partnerships and real estate investments from the UAE and the GCC in its plans to develop a new, ground-breaking city in Latvia.

Founded in 2013, Multi Capital Holdings stands as a fast growing company that deals with developing and managing real estate in Europe. In an exclusive interview, the company’s Chairman of the Management Board Ainars Slesers details the plans for the new city. The 1 million square meter land which will rise in the heart of Riga, Latvia’s largest and capital city, will compose of residential and business areas, a 200,000 square meter shopping mall, a state of the art exhibition venue and the biggest luxury hotel in the country.

“The new city will create a ripple effect to the businesses and tourism of the country. We will create a destination for the local community that will not only center on shopping, but also on dining, entertainment and playing areas for the children,” said Ainars Slesers. He continued, “The new city will also enjoy a great location within close vicinity to the capital’s cruise business which sees up to 800,000 visitors every year and will further showcase the new area to the world.”

Multi Capital Holdings’ strategy for the coming years will be to open the opportunity among international real estate companies and investors from the GCC region, aiming to accumulate billions of investment for the formation of this new project.

Slesers said, “Our goal is to bring partners from the UAE and the GCC aboard who can play key, innovative roles in the decision-making process of our project. These are partners who can guide us in shaping the country’s real estate industry and is passionate in developing a new found luxury for the city. We are using a 50%-50% investment strategy for this project, where we are ready to sell 50% of our project to our potential partners.”

“With a trusted portfolio of international partners combined with our expertise in the European market, we believe that such partnerships can create properties and establishments that will remain unique to the region,” he concluded