The five shopping and entertainment centres managed in Lithuania and Latvia by Akropolis Group, a shopping and entertainment centres development and management company, maintained stable visitor footfall in the first half of 2025, amounting to 21 million visitors in total. The tenants’ turnover reached the record high of EUR 558.9 million and was 1.8% more than for the same period last year.
“This half a year was particularly intense and successful for the entire team: from significant renovations and improvements in the current shopping centres, obtaining construction permits for further developments to a particularly strong presence in the capital markets. I greatly appreciate the trust we get from visitors of our shopping centres, as well as the consistently growing partnership with our tenants and their increasing results. This only confirms that we are on the right track, and we plan to maintain this momentum,” says Gabrielė Sapon, the CEO of Akropolis Group.
Consolidated rental income of Akropolis Group amounted to EUR 46.3 million in the first half of 2025 and grew by 5.4% compared to the first half of 2024. The rental areas vacancy rate remained extremely low – 1.3%, while it was 1.9% in the same period last year. The Group’s revenue amounted to EUR 63.3 million and grew by 4.4% over the comparable period, its earnings before interest, tax, depreciation, and amortisation (EBITDA) were EUR 44.3 million or 3.4% more than for the same period last year.
Over 70 new and revamped shops
In the first half of this year, more than 70 shops were opened or revamped in the five shopping and entertainment centres Akropolis and Akropole operated by Akropolis Group.
“In the first half of this year, more shops were opened or renovated in Akropolis centres than in the same period last year – over 70, compared to 66 last year. This shows the tenants’ trust in the shopping and entertainment centres we manage. Each new or revamped shop or entertainment space, especially if it is the only one of a kind in the city, becomes an even more attractive choice for our visitors. We are constantly striving for Akropolis centres to be the place where visitors can find the latest global trends in fashion, technology or leisure,” says G. Sapon.
New Yorker opened in Vilnius Akropolis, also the renovated Maxima XXXX shop was reopened, whereas Mango, Pegasas, Xiaomi, 4F, Tiger, and other shops were revamped. Klaipėda Akropolis witnessed revamping of Skechers, City, Adidas, Douglas, Flying Tiger Copenhagen, Drogas, Membershop, and other shops favoured by visitors. A new shop of Sinsay brand, café Caffeine, also revamped L`Occitane, Pandora, Eurokos and other shops welcome visitors in Šiauliai Akropolis.
Akropole in Latvia also hosted newcomers. New Sinsay and Lindex opened their doors in Akropole Riga, whereas Maxima was renovated, Sportland was renovated and expanded, some other shops were revamped. Akropole Alfa saw renovation of Mango, Douglas, Flying Tiger Copenhagen, and other shops in the first half of this year.
There is no shortage of news in Akropolis centres in the second half of the year, either. In July, restaurants 9 drakonai and KFC started operating in Vilnius Akropolis, as well as the family amusement park MaryMaris, whereas a renewed Zara Home shop, which is the biggest in the Baltic States, opened its doors in August. Visitors of Akropole Alfa in Riga are welcomed by the first Sportland shop of a new concept, which is also the biggest in Latvia, whereas Akropole Riga saw the opening of Zara Home. Sports clubs Lemon GYM are to open in Vilnius and Šiauliai Akropolis. Opening of a new electronics shop Elesen is planned in Vilnius Akropolis this year.
Investments that create value for visitors and tenants
In the first half of the year, Akropolis Group successfully placed its EUR 350 million 5-year green bond issue with 6% annual interest. The funds raised were intended to refinance the previous bond issue of EUR 300 million and to finance the projects meeting the sustainability criteria specified in the Green Finance Framework, including green buildings. The bonds are listed on Euronext Dublin and Nasdaq Vilnius stock exchanges. The deal was particularly popular among investors, with more than 90 investors participating in the offering.
In July, Vilnius Akropolis saw the completion of the renovation of the common spaces on its second floor – the company invested about EUR 800,000. Over 1,500 m2 of common spaces were modernised and became cosier, lighter and more comfortable for the shopping centre visitors.
In the Akropolis Vingis project, the last necessary document permitting construction was obtained in May – it was issued for the transport infrastructure improvement project by the multifunctional complex to be constructed in Vilkpėdė, a district of Vilnius.
Also, a construction permit was issued for a new 3,500 m2 one-storey building by Klaipėda Akropolis, the construction of which is to start as early as this year.
At the beginning of this year, the shopping and entertainment centres managed by Akropolis Group in Vilnius, Klaipėda and Šiauliai were assessed as “Very Good” according to the international BREEAM In-Use building sustainability standard. The same assessment has already been received by the shopping and entertainment centres in Riga, so all the five Akropolis and Akropole operated by the company in Lithuania and Latvia now meet high sustainability criteria.
“We had a target for all the shopping centres we control to obtain the “Very Good” certificate according to the BREEAM standard by 2026. We are truly delighted to have managed to achieve this even a year earlier,” says G. Sapon, the CEO of Akropolis Group.
In July, the international rating agency Fitch Ratings reconfirmed BB+ long-term borrowing rating with a stable outlook for the fifth consecutive year. Meanwhile, in the first sustainability report on the company published by Sustainable Fitch, Akropolis Group was given 2 points on a scale of 1 to 5, where 1 is the highest rating. Such a market rating shows very high compliance with ESG standards.
For more information:
Paulius Pocius
Head of Marketing and Communications
AKROPOLIS GROUP, UAB
+370 699 99566
paulius.pocius@akropolis.lt
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