Estonian investor group becomes owner of Domina Shopping
An Estonian-based investor group has acquired 100% of SIA “EfTEN Domina” from AS “EfTEN Kinnisvarafond II”, the company behind Riga’s Domina Shopping centre. The deal value has not been disclosed, and management will remain with EfTEN Capital’s Latvian subsidiary.
Change of ownership
A group of investors registered in Estonia, made up mostly of Estonian entrepreneurs, has acquired full ownership of SIA “EfTEN Domina” from AS “EfTEN Kinnisvarafond II”. This company owns Domina Shopping, one of Riga’s largest shopping centres. The parties have not disclosed the transaction value.
After the change of owners, the centre will continue to be managed by the Latvian subsidiary of the fund management company EfTEN Capital. The core of the investor group largely consists of the same entrepreneurs who jointly bought the Kristiine shopping centre in Tallinn in December 2024. Shareholders of EfTEN Kinnisvarafond II approved the sale at a regular general meeting held in spring 2026. The shopping centre had been owned by the fund since 2016.
Investor club model
Viljar Arakas, chairman of the management board at EfTEN Capital AS, said that the investor club model has become increasingly common for large commercial property purchases. He noted that the Baltic states are again attractive to investors on a European scale, as commercial property yields here are 200 to 300 basis points higher than in Central Europe, while bank financing conditions in both regions are similar.
The investor group that acquired Domina Shopping consists of Anders Anderson, Toonart Rääsk, Ivar Vendelin, Raul Kirjanen, Jüri Külvik, Toomas Keridon and Kristjan Petjärv. Viljar Arakas, Tõnu Uustalu and Viktors Savins, head of EfTEN Capital Latvia, also took part as investors from EfTEN Capital’s management. Private investors will be able to gain exposure to the centre’s performance by investing in the listed EfTEN United Property Fund.
About the centre
Domina Shopping is one of Riga’s largest retail and entertainment centres. Its leasable area is approximately 42,000 square metres, visitors have access to 2,000 free parking spaces, and the centre houses more than 170 shops, cafés and service providers. In 2022, Skypark, the largest indoor entertainment and leisure centre in the Baltics, and Apollo Kino cinema were opened there. Major tenants include Maxima XXX, JYSK, Peek & Cloppenburg, H&M, Sportland, Lido, SkyPark and MyFitness.
