Origo shopping center's owner Linstow posts EUR 29.7 million profit for 2021

• Published date: 18 May 2022
• Publication title: LETA

Linstow, the owner of the Origo shopping center in Riga, closed 2021 with EUR 6.128 million in turnover, which is an increase of 41.1 percent against a year before, and a profit of EUR 29.744 million in contrast to a loss incurred in 2020, according to Firmas.lv.

The company's management said that the profit occurred as a result of a revaluation of a property investment.

According to Linstow management, the strategic location of Origo, which ensures an intensive shopper traffic, will serve as a basis for successful and sustainable development in the future. The shopping center's operator plans to put emphasis on the optimization of the structure of Origo tenants and attracting more shoppers.

Linstow management also noted that the Covid-19 pandemic reduced its lease revenue, but that the impact of the Covid-19 crisis has been brief and is not expected to leave a...