SRV retires from Latvian real estate market and concentrates its Baltic operations to Estonia.
“Construction market in Latvia has been difficult for a long time. For last couple of years we have had a few projects in Latvia, but the future outlook isn’t exciting. Our international operations will now focus more clearly on Russia and in the Baltics on Estonia”, says SRV’s CEO Jukka Hienonen.
Operations of SRV’s Latvian subsidiary will be terminated by next fall. Previously in Latvia SRV has developed and constructed logistics, warehouse and production facility projects.
Estonian markets offer interesting opportunities for SRV in the Baltics. At the beginning of the year SRV started the construction works on a new frozen baked goods factory for VAASAN Group in Saue, 15 kilometres from Tallinn.
SRV Group Plc
Vice President, Communications