Investments, Latvia, Legislation, Real Estate

Several dozen demonstrators turned out at the Riga City Council to protest the decision today, as they believe selling the largest green area in downtown Riga is inadmissible.

According to the draft, Riga City Council plans to sell 10 lots – a total of 102.9 hectares. The only connection to Lucavsala is through Salu Bridge, which divides Lucavsala in two parts. The west side of Lucavsala has practically no pedestrian roads, while the majority of territory of Lucavsala is not accessible.

Considering the presence of natural resources and environmental protection regulations, in order to improve Lucavsala's infrastructure, it requires large amounts of investments, therefore, Riga City Council proposes selling these lots to "facilitate funding of Lucavsala's territorial development and achieve more effective and rapid land development."

Riga Vice Mayor Andris Ameriks (Honor to Serve Riga) said during the city council meeting that the local government does not have the resources to maintain such a large area, as large investments are needed to establish the necessary infrastructure. He said that attracting investors is the only way to develop the land, and added that the development of the area will lead to more jobs and additional budget revenue.