Industries > Real Estate, Hospitality & Construction

Real Estate, Hospitality & Construction

Real estate, hospitality and construction includes construction, reconstruction, selling, buying, rent of living houses, industry and trade objects, offices, public buildings, hotel, guest houses business, construction and reconstruction of civil engineering objects, roads and other objects. This area has been among the most rapidly developing in the Baltic States during recent years. The scope of construction is constantly increasing, real estate market is expanding along with growing demand on flats and houses and real property prices. The biggest part of the industry is comprised of construction, followed by maintenance and reconstruction. The majority of construction is non-living buildings, civil engineering objects and living houses.

The biggest part of real property investments is into construction and reconstruction. While the amount of construction works is increasing, the number of people working in this area is also increasing.

Prices on real property, especially flats, are constantly increasing. Prices on commercial real property have been increasing less rapidly. In the flats market, the demand is still bigger than supply. Market players say that this is due to constantly changing complicated laws, incoherent growth of cities, and lack of land plots.

Hotel and guest house business is developing rapidly, it is related to joining the EU and general development of economy.

Some of the biggest and most important companies in this area are:

• Construction companies Panevėžio Statybos Trestas, Ranga IV, Kauno Tiltai, YIT Kausta (Lithuania), Constructus (Lithuania, Latvia), BMGS, Re & Re (Latvia), Merko, Eesti Ehitus, YIT Ehitus, Skanska (Estonia);
• One of the biggest real estate companies Ober-haus (Lithuania, Latvia, Estonia), KOBA (Lithuania, Latvia), Vestman Kinnisvara (Estonia), Latio Kurzemes Nami, Daugavpils DKSU (Latvia);
• Hotel networks Radisson SAS, Schloessle, Reval, Scandic.

The Real Estate, Hospitality and Construction group within the Baltic Legal Solutions network is one of the pre-eminent providers of real estate services in the Baltic States. This sector is one of the fastest growing sectors in all three Baltic States, with housing , hotel construction and real estate transaction activity at an all-time high. Our teams are well equipped to meet the challenges of this active market.

We provide legal support to real estate owners, developers, investors, pension funds, lenders, investment banks, advisory/brokerage companies, property managers, and asset managers.

Our legal services typically include performance of transaction work from start to finish, opinions on title and its basis, dispute resolution, mortgage actions, transfer, registration of title, preparation of draft agreements (leases, mortgages, loans, gifts, etc.), landlord and tenant issues, drafts of commercial lease agreements, and construction agreements, including FIDIC agreements.

Links and sources:

Lietuvos statistikos departamentas www.std.lt
Centrālā statistikas pārvalde www.csb.lv
Statistikaamet www.stat.ee
Eurostat europa.eu.int/comm/eurostat
Baltic Business News. Latvian Companies TOP 50 www.balticbusinessnews.com/mod/onl_news.pl?disp=top&file=Latvian_TOP_50.html
Top 500 Companies in Latvia www.konsult.lv/top500.php
Baltic Business News. Lithuanian Companies TOP 100 www.balticbusinessnews.com/mod/onl_news.pl?disp=top&file=LithuaniaTOP100.html
Baltic Business News. Estonian Companies TOP 50 www.balticbusinessnews.com/mod/onl_news.pl?disp=top&file=Est_TOP_50.html
Vilniaus vertybinių popierių birža www.lt.omxgroup.com
Rīgas Fondu birža www.lv.omxgroup.com
Tallinna Börs www.ee.omxgroup.com
Lietuvos Respublikos ūkio ministerija www.ukmin.lt
Latvijas Respublikas Ekonomikas ministrija www.em.gov.lv
Eesti Majandus– ja Kommunikatsiooniministeerium www.mkm.ee
Lietuvos statybininkų asociacija www.statybininkai.lt
Verslo žinios www.vz.lt
Dienas Bizness www.db.lv
Äripäev www.aripaev.ee
Lietuvos makroekonomikos apžvalga www.seb.lt/pdf/lt/lma22.pdf