The shopping center has already been sold. What’s next? 0 8

As is known, the SKY retail chain has ceased to exist - the relevant company has initiated insolvency proceedings. However, it has just been revealed that the building housing Sky&More has already been resold.

"In early March, the real estate development group 'Realto' signed an agreement to acquire shares in the company LLC 'Skai Pluss'. LLC 'Skai Pluss' owns and manages the shopping center 'Sky & More' in Riga, located at 19 A Duntes Street, which operates in the premium retail segment.

The new owners note that the ongoing development projects will continue and the offering of tenants and services at the center will gradually be improved. The planned changes will mark a new stage of development aimed at strengthening the position of 'Sky & More' in the Riga retail segment and enhancing the competitiveness of the center.

Representatives of Sky & More reported that a number of important development projects are expected at the shopping center in 2026. One of the largest is the reconstruction and expansion of the My Fitness sports club - the area of the club will increase by 30%, providing visitors with broader training opportunities and a modern functional environment inspired by world-class fitness clubs. At the same time, the climbing and bouldering hall 'Peak' will be expanded. Not only will the climbing wall be enlarged, but bouldering enthusiasts will also be offered a variety of routes and climbing methods. In collaboration with the Italian brand 'La Sportiva', the store for outdoor and sports goods 'virsotne' will be significantly expanded, offering a more diverse range of products.

A new grocery store will also open soon. This will complement the assortment of the previous store, expanding the range of offerings and further providing customers with products of equivalent quality. The enterprise has committed to maintaining the previous quality standards and ensuring a continuous production process, including providing access to both products made in Germany and those favored by local and other customers.

The deal has not yet been finalized, and for competitive reasons, the name of the grocery store operator is not yet disclosed," the press release from Sky&More states today, emphasizing that a decision from the Competition Council regarding the new operator of the grocery section of the shopping center is still awaited.