An artist's rendition of what the interior of Galleria Riga will look like.

RIGA — The Galleria Riga shopping mall in the center of Latvia’s capital city is set to open in one of the worst economic situations for retail the country has experienced since independence.

Due to over 20 percent unemployment and declining wages, the retail trade has been Latvia’s hardest-hit sector by the economic crisis, with sales falling more than [private_supervisor]31 percent in the fourth quarter of 2009 compared with the same period in 2008. Retail accounts for 14.1 percent of Latvia’s €23 billion economy.

Despite this and competition from the several large shopping malls already in downtown Riga, Pīters Junsens has boasted that the mall will become as unique for Riga as the iconic Harrods is for London. Meanwhile the mall is set to open with nearly 70 percent capacity filled, a better number than Vilnius’ newest mall the Ozas Gallery was able to muster before opening in Aug. 2009.

“There will be some very good shoe shops. Currently, we have already signed contracts for 70 percent of the area,” Junsens said in an interview with Diena Bizness.

Galleria Riga is set to open Sept. 2010 and will be located at 65 Dzirnavu street, between Tērbatas and Brīvības, the central high street retail area of Riga. The total gross area for the first opening stage will be over 40,000 sq m with shopping area of 29,700 sq m. All together there will be more than 200 shops and restaurants plus entertainment area on the roof that will feature a lounge garden in the summer and ice skating rink in the winter. [/private_supervisor] [private_subscription 1 month]31 percent in the fourth quarter of 2009 compared with the same period in 2008. Retail accounts for 14.1 percent of Latvia’s €23 billion economy.

Despite this and competition from the several large shopping malls already in downtown Riga, Pīters Junsens has boasted that the mall will become as unique for Riga as the iconic Harrods is for London. Meanwhile the mall is set to open with nearly 70 percent capacity filled, a better number than Vilnius’ newest mall the Ozas Gallery was able to muster before opening in Aug. 2009.

“There will be some very good shoe shops. Currently, we have already signed contracts for 70 percent of the area,” Junsens said in an interview with Diena Bizness.

Galleria Riga is set to open Sept. 2010 and will be located at 65 Dzirnavu street, between Tērbatas and Brīvības, the central high street retail area of Riga. The total gross area for the first opening stage will be over 40,000 sq m with shopping area of 29,700 sq m. All together there will be more than 200 shops and restaurants plus entertainment area on the roof that will feature a lounge garden in the summer and ice skating rink in the winter. [/private_subscription 1 month] [private_subscription 4 months]31 percent in the fourth quarter of 2009 compared with the same period in 2008. Retail accounts for 14.1 percent of Latvia’s €23 billion economy.

Despite this and competition from the several large shopping malls already in downtown Riga, Pīters Junsens has boasted that the mall will become as unique for Riga as the iconic Harrods is for London. Meanwhile the mall is set to open with nearly 70 percent capacity filled, a better number than Vilnius’ newest mall the Ozas Gallery was able to muster before opening in Aug. 2009.

“There will be some very good shoe shops. Currently, we have already signed contracts for 70 percent of the area,” Junsens said in an interview with Diena Bizness.

Galleria Riga is set to open Sept. 2010 and will be located at 65 Dzirnavu street, between Tērbatas and Brīvības, the central high street retail area of Riga. The total gross area for the first opening stage will be over 40,000 sq m with shopping area of 29,700 sq m. All together there will be more than 200 shops and restaurants plus entertainment area on the roof that will feature a lounge garden in the summer and ice skating rink in the winter. [/private_subscription 4 months] [private_subscription 1 year]31 percent in the fourth quarter of 2009 compared with the same period in 2008. Retail accounts for 14.1 percent of Latvia’s €23 billion economy.

Despite this and competition from the several large shopping malls already in downtown Riga, Pīters Junsens has boasted that the mall will become as unique for Riga as the iconic Harrods is for London. Meanwhile the mall is set to open with nearly 70 percent capacity filled, a better number than Vilnius’ newest mall the Ozas Gallery was able to muster before opening in Aug. 2009.

“There will be some very good shoe shops. Currently, we have already signed contracts for 70 percent of the area,” Junsens said in an interview with Diena Bizness.

Galleria Riga is set to open Sept. 2010 and will be located at 65 Dzirnavu street, between Tērbatas and Brīvības, the central high street retail area of Riga. The total gross area for the first opening stage will be over 40,000 sq m with shopping area of 29,700 sq m. All together there will be more than 200 shops and restaurants plus entertainment area on the roof that will feature a lounge garden in the summer and ice skating rink in the winter. [/private_subscription 1 year]

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