In May 2025, GD & L Services signed a contract for the lease of the internal courtyard among Brīvības, Tērbatas, and Matīsa streets.
The revitalisation of the market-place fits into the overall vision of the investor’s planned development of the block. However, the main focus is currently on the organisation and modernisation of the Vidzeme marketplace. The plan aims to develop trade, catering, possibly also an exhibition hall and a facility intended for children. About 15 million euros are planned to be invested in the development of the Vidzeme marketplace. While, it is planned to invest 35–40 million euros in the hotel, entertainment, and leisure complex. The total area of buildings in the marketplace that needs to be put in order is about 4,000 m².
In addition, SIA GD & L Services purchased “Royal Spa & Resort Hotel” at Tērbatas iela 73 for EUR 6.067 million. The object is large – the area of the land plot is 0.7 ha, the area of the buildings is almost 11,700 m². The hotel is planned to be rebuilt – a construction design is currently being prepared, including up to 45 rooms, a spa, sports, and banquet infrastructure.
SIA GD & L Services is a subsidiary of a company whose main business is trade. The group of companies also owns real estate, operates a restaurant business, including, e.g., restaurant “HeJi” in Vilnius, which is included in the “Michelin” guide, and “Esperanza” resort complex in Trakai.
TEGOS (former TGS Baltic) provided the client with consultations regarding the purchase and rental of the real properties. Throughout all stages of this project, the team was led by partner Sandis Petrovičs.
