Top CEE investable projects 2026: Riga RoPax Terminal, Riga, Latvia

Project overview

The Riga RoPax Terminal is a major maritime infrastructure project designed to position Riga as a leading passenger and roll-on/roll-off (ro-ro) gateway in Northern Europe. Located within the Freeport of Riga, the development will deliver a modern, multi-functional terminal serving ferry, cruise and cargo operations, alongside commercial and public-facing spaces.

The project covers an approximately 11-hectare waterfront site and includes three berths with a total length of 618m, capable of accommodating large vessels, including cruise ships exceeding 300m. Developed over the next five years, the terminal will integrate transport infrastructure with retail, hospitality and public realm elements, creating a new urban and economic hub.

The opportunity

The project offers investors exposure to a growing maritime and tourism market, underpinned by strong passenger growth and increasing regional connectivity. Riga is emerging as an attractive destination for sea passengers, with traffic historically growing at double-digit rates and further expansion expected across both ferry and ro-ro segments.

Beyond core port operations, the terminal incorporates commercial, retail and service components, including catering, co-working and tourism-related services, as well as the potential to establish Riga as a cruise home port. Strategic partnerships are already in place with key stakeholders, including the Freeport of Riga and the Port of Stockholm, while discussions with ferry operators are at an advanced stage.

The financials

The total investment is estimated at approximately €100 million, with around €47 million allocated to the RoPax terminal infrastructure. The project is expected to generate average annual revenues of approximately €8 million, supported by diversified income streams from passenger services, port operations and commercial activities.

The financial profile is underpinned by a projected EBITDA margin of around 65% and a post-tax internal rate of return of approximately 16.2%, reflecting the asset’s long-term operational potential and strategic positioning within the Baltic maritime network.

Project sponsor

The project is being developed by Riga RoPax Terminal LLC in close cooperation with the Riga Freeport Authority and the Riga City Council, ensuring strong institutional support and alignment with the city’s long-term transport and urban development strategy.

Significance

The development will significantly enhance Latvia’s maritime infrastructure, strengthening Riga’s role as a regional transport hub and supporting growth in tourism, logistics and trade. By integrating passenger services with urban development, the project also contributes to the regeneration of the waterfront and the creation of new public and commercial spaces.

The pitch

The Riga RoPax Terminal represents a rare infrastructure-led investment opportunity combining transport, tourism and real estate elements within a single platform. With strong public backing, clear demand drivers and multiple revenue streams, the project offers a balanced risk-return profile.

Its scale, connectivity and mixed-use integration position it as a key gateway asset in the Baltic region, with long-term upside linked to growing passenger flows and regional trade dynamics.