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RB Rail: Rail Baltica would boost real estate development

Render of the
Render of the "Water Strider" design for the Rail Baltic station in Pärnu.

The Rail Baltica project will also have a positive affect on real estate development in the Baltic States, RB Rail CEO Baiba Rubesa said at the Baltic Real Estate Leaders Forum on Friday.

"This line will be significant for business because of new and fast cargo chains from Europe. New logistics centers can be developed along the railway line, cities near railway stations can develop new large shopping centers and other projects," she said.

Rubesa also said that Rail Baltic can promote the development of housing construction. "For example, Pärnu will be an hour away from Tallinn and Riga by train, Panevėžys will be an hour away from Riga and Kaunas. This could give an impulse to people to purchase housing in Pärnu and work in Tallinn or Riga, for example," she said.

Rubesa brought up the United Kingdom as an example, where real estate prices along the Crossrail line connecting Greater London with the surrounding area to the west and the east of the city have increased, and many new business projects have appeared. Another example is the Øresund Bridge between Sweden and Denmark that removed obstacles, and where now it makes no difference in which country one lives and works.

"The goal of Rail Baltic is to bring the Baltic states much closer to the center of Europe, and to symbolically remove the borders between the Baltic states, Poland, and the rest of Europe," Rubesa said.

RB Rail is a joint venture by the three Baltic states founded in October 2014. The Rail Baltica project includes the construction of a direct railway connection between the Baltic states and the European railway network with speeds of up to 240 km/h for passenger trains and 120 km/h for freight trains.

Editor: Dario Cavegn

Source: BNS

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