RIGA, Latvia, 23rd May, 2024 (WAM) — Eagle Hills has officially launched its ambitious ‘Riga Waterfront’ project, set to transform the waterfront area along the Daugava River in Riga, the capital of Latvia. The project boasts an impressive investment exceeding €3 billion, marking a significant milestone in urban development for the region.
The ‘Riga Waterfront’ project aims to provide approximately 8,000 meticulously designed residential units, capable of housing over 30,000 residents. The development will also feature a diverse range of hotels with more than 1,000 hospitality units, offering luxurious accommodations for visitors. Additionally, the project includes enchanting ice-skating rinks, a marina for ships and yachts, a modern shopping center, and expansive public green spaces, creating a vibrant and attractive environment for both residents and tourists.
The launch event, held in Riga, saw the attendance of several high-profile dignitaries and investors from the UAE and Latvia. Among them were Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade; Ahmed Ali Al Sayegh, Minister of State; and Mohamed Al Abbar, Founder and Chairman of Eagle Hills Properties. Their presence underscored the importance of the project and the strengthening ties between the UAE and Latvia.
Dr. Al Zeyoudi emphasized the growing economic and investment relations between the UAE and Latvia, noting the substantial increase in trade and collaborative efforts across various sectors. He highlighted that the ‘Riga Waterfront’ project is a testament to the deepening partnership between the two nations, identifying Latvia as a key economic and investment partner in the Baltic region.
Al Sayegh also spoke on the significant advancements in UAE-Latvia relations over recent years, attributing the progress to multiple cooperation agreements designed to create business opportunities in both countries. He expressed optimism that the new Emirati-funded project would further enhance collaboration in priority sectors, reflecting the ongoing positive development in bilateral relations.
Mohamed Al Abbar, the visionary behind Eagle Hills, stated that the ‘Riga Waterfront’ project aligns with the strategic vision of developing Latvia and its capital, Riga, into Europe’s new center. The project’s goal is to transform the site into a dynamic hub, offering a harmonious blend of luxury residential buildings, green spaces, and an active community life with direct waterfront views.
By leveraging advanced technology, ‘Riga Waterfront’ aims to set a pioneering path in urban development through smart infrastructure, green practices, intelligent waste management systems, and energy-efficient buildings. These efforts will enhance the unique lifestyle of the residents while promoting environmentally friendly living.
The project will spur further investments and propel the local economy by creating job opportunities and fostering a vibrant community. The ‘Riga Waterfront’ stands as a symbol of the growing collaboration between the UAE and Latvia, paving the way for future projects that promote sustainable development and economic growth in the region.
