Vision: To be your preferred partner in providing innovative solutions for shopping center development and operations in the Baltics.
Linstow’s operations in Latvia date back to 1996. In the intervening period, the company has built a justified reputation as an experienced and successful shopping center developer in the Baltic States. Linstow has established five shopping centers in Latvia: Alfa, Mols, Galerija Centrs, Origo, and Dole. It has also developed the Minska shopping center in Riga as well as the largest shopping center in Estonia: Ülemiste.Read more
Years of experience in establishing and development of shopping centers have honed Linstow expertise to a degree where it is invariably the first company to introduce cutting edge innovations and set benchmarks for excellence in the establishment and upgrading of shopping centers.
Lasting success in the field of retail real estate property management requires a combination of professionalism and thorough understanding of both capabilities and characteristics of the market at hand. Only thus can one set a good foundation for long-term growth and development that will deliver sustainable return on investment.Read more
The company’s vast experience and its firm commitment to implement the highest standards in the industry ensures that Linstow Center Management always focuses on professional management of its existing shopping centers as well as new projects, so that they remain safe and shopper-friendly.
The first property to be developed under the auspices of Linstow’s retail operations was Dole, on which construction began in 1996 and which was completed in time for its opening in February 1997. Dole was a turning point in the development of the Latvian market, as it was the first shopping center to offer a mix of local and Norwegian stores in a modern retail environment. Not surprisingly, Dole proved to be a hit with shoppers who flocked to enjoy what was an entirely new retailing concept for the Baltic States. This success inspired Linstow to develop other properties in the Baltic capitals.
Towards the end of 1997, Linstow expanded its real estate operations in the Baltic region. After acquiring a 50% stake in the local real estate holding company SIA Varner Hakon Invest, Linstow began to develop a network of shopping centers in Riga.
In January 1997, the enterprise took over the Minska shopping center in the Vidzeme district of Riga. After its renovation, Minska was reopened in August of the same year.
In early 1997, the company also acquired the Mols shopping center, which was still under development at the time. Mols welcomed its first customers in September 1998 and proved to be a true success story. Consequently the shopping center was very soon expanded, reopening in November 2002.
In December 1997, Linstow took over the Centrs department store in the Old Town of Riga, acquiring a majority share from its owner, the joint-stock company Universālveikals Centrs, which was undergoing privatization. Blessed with an iconic location in the Old Town, this historically popular retail destination was renovated by Linstow. After reconstruction, the two lower floors of Centrs welcomed their first shoppers in December 1997, followed by the top floors in May 1998.
In 1998, Linstow launched two major shopping center development projects in Riga: Alfa and Origo. In addition, LCM completely renovated some prestigious urban sites integral to the development of the Origo project, including the historic clock tower next to the Central train station, as well as the Station Square in front of it.
The Alfa shopping park was opened in June 2001.
The Origo shopping center opened its doors to the public in June 2003.
After attaining the strategic goal of establishing a significant real estate base in Riga, Linstow expanded its operations to include Tallinn, the capital city of neighboring Estonia. In April 2004, Linstow made an impressive introduction to the Estonian market by opening Ülemiste, the largest shopping center in the entire country. In a further reflection of the company’s growing ambitions, the expansion of the Alfa shopping center was completed in October 2004.
2006 saw the completion of Linstow’s ambitious plans to further reconstruct and expand the Centrs department store. A completely new concept was devised, which resulted in changing the property’s name to Galerija Centrs and thus launching the attractive new GC brand. The new expanded version of the shopping center opened its doors to customers in August 2006.
On 23 October, 2014, Linstow Center Management opens Ülemiste shopping centre after reconstruction in Tallinn. LCM has invested 40 million euro in reconstruction of the shopping centre in the period between September 2013 and October 2014. Upon completion of reconstruction, retail space will be doubled and reach 92,500 m2, instead of previous 49,700 m2. The same can be said about number of stores, instead of currently available 160, 210 diverse stores, cafes and restaurants will be open to customers.
Linstow Center Management’s long-term objective is to maintain its position as the leading shopping center developer and manager in the Baltic States. Linstow AS is currently the leading foreign investor in the Baltic retail sector, its total investments in the region exceeding EUR 700 million.
One of the Norway’s leading real estate companies with operations both in Norway and abroad, Linstow is currently owned by AWilhelmsen Group. The operations of AWilhelmsen Group span a variety of fields, including cruise industry, financial investment, freight transportation, and retail.
Linstow’s operations in the Baltics date back to 1997. In the intervening period, the company has firmly established itself as the foremost shopping center developer in the region. Its record of success is based on the development of five shopping centers in Latvia and one of the largest shopping centers in Estonia – Ülemiste. The Linstow Group’s total investments in the region exceed EUR 400 million.
The Linstow Group’s shopping centers in Latvia are managed by its subsidiary, Linstow Center Management.
Linstow has a total of 1200 employees. Its head office, with 22 employees, is located at Tjuvholmen in Oslo, Norway. Linstow is a growing company and sees significant business opportunities in today’s market. The company is currently in the initial phase of implementing several interesting projects.