Riga City Council has approved a proposal for the development of Riga Central Market, paving the way for long-term cooperation with the municipal company Rīgas nami and investments exceeding 22 million euros in the development, preservation and renovation of the market’s historic pavilions, surrounding territory and infrastructure.
Riga Deputy Mayor Edvards Ratnieks described the decision as historic, saying it would turn long-awaited plans to renovate Riga Central Market into reality and transform it into a modern marketplace that meets 21st-century standards. At its meeting, Riga City Council decided to extend the management and maintenance agreement with Rīgas nami until 24 April 2067.
At the same time, the municipal company was assigned specific obligations concerning investment, infrastructure improvements, the restoration of historic buildings and the implementation of new development projects, Riga City Council announced. “We want to see Riga Central Market become one of Riga’s jewels. With this historic and long-awaited decision, development is no longer just an idea – it now has specific funding, deadlines and tasks that Rīgas nami must deliver,” Ratnieks said. “We have chosen an approach that allows the market’s renovation to move forward without using municipal budget funds, instead attracting financing from other sources. At the same time, Rīgas nami will continue actively seeking investors, including by presenting the Riga Central Market development project at international exhibitions as one of Riga’s most significant investment opportunities,” the deputy mayor added.
Rīgas nami must secure 21.2 million euros in investment for the development, preservation and restoration of Riga Central Market’s pavilions and surrounding territory. The financing is expected to come from the company’s own resources, European Union funds and programmes, loans and other financial instruments. No additional funding from the municipal budget is planned for this purpose.
In addition to these investments, Rīgas nami has committed to carrying out essential structural safety improvements at the former Meat Pavilion.
The preliminary cost of these works is estimated at 1.385 million euros. The project will include restoring the basement’s load-bearing structures and the metal support structures of the pavilion’s roof. The procurement procedure must be completed by the end of 2026, while construction work must be finished by July 2027.
“It is particularly important that we are providing not only funding for infrastructure but also a clear path towards attracting private investment,” Ratnieks said. “The former Meat Pavilion is one of the buildings that must be given a new lease of life while preserving its historical value. By May 2027, we plan to announce an auction for lease rights to attract a long-term tenant and investor who will renovate and develop the pavilion,” he explained.
The former Meat Pavilion is expected to become a publicly accessible, multifunctional facility that complements the Central Market’s existing offerings. Its redevelopment must preserve the building’s cultural and historical significance. To establish a unified vision for Riga Central Market’s future, Rīgas nami will be required to organise an architecture and design competition within six months. The competition, titled Development of the Architectural and Design Concept for Riga Central Market, will help determine a coherent approach to renovating the pavilions and surrounding public spaces.
The market’s future development will be guided by several key principles, including providing high-quality, sustainable food products;
creating green and accessible public spaces; supporting cultural activities and creative industries; encouraging local entrepreneurship and ensuring transparent and professional management.
Ratnieks said Rīgas nami has also been instructed to prepare an indicative five-year schedule of development works and investments, identifying planned activities and their estimated costs. The company will also work with potential investors to attract financing and implement development projects.
According to Rīgas nami, the long-term development programme aims to restore Riga Central Market’s historic pavilions by its 100th anniversary in 2030. The plans also seek to improve working conditions for traders and create a more convenient and attractive market for Riga residents and visitors. Renovation work will vary between the pavilions, with approximately 19 million euros earmarked for their restoration.
The planned changes include Fish Pavilion where extensive renovation will be carried out while maintaining the sale of fish and seafood products. In former Vegetable Pavilion the building will be adapted for the sale of meat products. In Gastronomy Pavilion renovation work will prepare the pavilion for the sale of dairy products and groceries and in Former Dairy Pavilion the building will be developed into a food service and dining area.
Structural safety improvements will also be carried out at the former Meat Pavilion.
By summer 2027, the pavilion’s basement load-bearing structures and roof-supporting metal structures are expected to be restored.
An auction for the pavilion’s lease rights will be announced by May 2027 to attract a long-term tenant responsible for its renovation and development.
The building is intended to become a publicly accessible, multifunctional destination while retaining its cultural and historical value. Improvements are also planned for the shared infrastructure of the market pavilions, including the restoration of facades, lighting, waterproofing and external utility networks. The pavilions’ extensive basement areas are also expected to be adapted for civil protection purposes. At least 3.5 million euros will be allocated to the development of public outdoor spaces.
The work will be implemented gradually, with efforts made to ensure that market operations continue throughout the construction period. The renovation of outdoor areas and pavilions will also include arrangements for the sale of fruit and vegetables.
An international architecture and design competition organised by Rīgas nami will help establish a unified vision for the development of the market’s pavilions and surrounding territory.
The competition results are expected to support the harmonious development of Riga Central Market according to consistent design principles. The investment programme will be financed through Rīgas nami resources, European Union funds and programmes, loans and other financial instruments. The programme is intended to proceed without municipal co-financing.
In addition, Rīgas nami plans further investments in the coming years in the development of its Spīķeri buildings, parking facilities and commercial activities.
The newly approved plans build on renovation work already underway at Riga Central Market.
Since Rīgas nami took over the market’s management in 2023, more than 4.4 million euros has been invested in development and urgent improvements. Completed projects include the restoration of the former Vegetable Pavilion’s roof, metal roof structures and basement. The metal roof structures of the Dairy Pavilion have also been reinforced, alongside other measures aimed at preserving the historic buildings.
Since opening in 1930, Riga Central Market has been one of the largest markets in Europe. The site covers a total land area of 9.9 hectares, of which 6.7 hectares are officially designated as market territory. Riga Central Market is a cultural monument of national significance and forms part of Riga’s historic centre, which is included on the UNESCO World Heritage List.