Top 10 investable I&L projects: Spilve Industrial Park, Riga, Latvia
The opportunity
Spilve Industrial Park offers investors a unique chance to capitalise on Latvia’s strategic location between Western Europe, Scandinavia and the Commonwealth of Independent States.
Development sites within the 450-hectare area can be tailored for large-scale industrial, logistics and manufacturing operators, supported by ready access to port facilities and rail infrastructure.
Potential investors include global industrial developers, logistics providers and advanced manufacturers seeking to establish or expand in the Baltics.
Partnership structures are flexible, ranging from direct investment to public-private partnerships, reflecting the project’s long-term ambition to attract a mix of international and domestic capital.
The financials
The Spilve Industrial Park requires phased investment to unlock its full potential, with opportunities for both anchor tenants and strategic investors. The gross development value is expected to run into the billions of euros once the entire area is built out.
The park’s financial attractiveness is further supported by Latvia’s competitive tax incentives, its EU single market access and the availability of EU structural funds for infrastructure development.
Project sponsor
The initiative is led by the Freeport of Riga Authority, which is responsible for managing and developing one of the largest and most strategically important ports in the Baltic Sea. The authority’s involvement ensures strong public sector backing, integration with national infrastructure strategies and the credibility of a project that is treated as a key national asset.
Significance
The development of Spilve Industrial Park will have a transformative impact on the Latvian economy. By leveraging existing transport infrastructure, it will attract new industrial operators, strengthen supply chains and boost export competitiveness.
The project will also create significant employment opportunities, foster skills development and support the growth of knowledge-based industries. At a regional level, it will help consolidate Riga’s role as a gateway for trade between the EU, Scandinavia and eastern markets, while embedding sustainable development practices.
The pitch
With more than 450 hectares of land, direct access to port and rail infrastructure, competitive tax incentives and strong government backing, the project combines scale with strategic positioning. For investors and occupiers alike, it offers the chance to secure a foothold in a high-growth industrial hub that will play a pivotal role in the future of trade and manufacturing in the Baltic region.
