Good for Business, Latvia, Markets and Companies, Retail

Liepaja Construction Board spokesman Aigars Stals said that the store building would be 2,324 square meters large and the size of the parking lot would be 3,526 square meters.

The building permit for the project was issued in January 2018.

Arhitekta G.Viksnas Birojs architect firm will work out the design project and UPB will perform the construction works for the project launched by Lidl Latvija.

The land plot on which the new Lidl store will be built is situated next to a Viada fuel station.

As reported, Lidl began preparing for entering the Baltic market in 2003 but later changed its mind and sold all land parcels bought in the Baltic countries, explaining that the Baltic market was too small. The company nevertheless made a good profit in Latvia, without even opening a single store, because it sold the properties bought in Latvia at profit. Lidl Latvija total profit in 2006-2008 amounted to LVL 7.2 mln (EUR 10.24 mln), according to Firmas.lv data. Part of Lidl properties were acquired by Estonian chain stores A-Selver, which also had to leave Latvia eventually due to the economic crisis.

In the summer of 2017 Lidl again announced its plans to enter Latvia.

Lidl Latvija, originally named MMS Property Solutions, was registered in 2016. The company's share capital is EUR 20.5 mln, its sole owner is CE-Beteiligungs-GmbH, which also owns Lidl Lietuva.