Top 10 CEE investable projects: RIX Airport City – Riga, Latvia

Project overview

RIX Airport City is one of the most strategically significant new developments in Northern Europe, transforming 24 hectares next to Riga International Airport into a modern, mixed-use business and transport hub.

With the airport offering the broadest air connectivity, and soon to be directly linked to the Rail Baltica high-speed railway, RIX Airport City will serve as a vital node between Western Europe, the Nordics and the Baltics.

The new passenger terminal – set for completion in 2029 – will connect directly to both air and rail networks, supporting up to 12 million passengers annually.

The first phase, due by 2030, includes an airport hotel linked to the terminal and a landmark office building, laying the foundation for a new business and logistics centre.

The opportunity

RIX Airport City offers investment opportunities across office, retail, hospitality, light manufacturing, logistics and aviation-aligned sectors. The development plan includes a central plaza, a park area with a lake, and a perimeter zone for commercial and industrial use. Target sectors include logistics, e-commerce, IT and tourism-related services.

Financials

The project spans a 24-hectare area with a target built-up area of 340,000 sq m. The estimated investment for the first phase alone is €300 million, with completion expected by 2028.

Project sponsor

Riga International Airport, a public entity, is leading the transformation of the airport zone into a next-generation transport and business district.

Significance

The project will position Riga as a major intermodal gateway for the Baltics and Northern Europe, reinforcing its role as a regional economic driver. It will also support Latvia’s broader goals for innovation, sustainability and cross-border integration.

The pitch

RIX Airport City offers an exceptional chance to shape the future of regional connectivity. Set at the intersection of air, rail, and road networks – and aligned with European sustainability goals – the project offers high visibility, long-term growth potential, and the chance to shape the future of one of Europe’s fastest-growing regions.