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Friday 18.01.2019 | Name days: Antis, Antons
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IKEA owns approximately 90,000 ha of forests in Latvia

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUEver since IKEA Group’s Netherlands-based IRI Investments has become the sole owner of Foran Real Estate, IKEA now owns approximately 90,000 ha of forested land in Latvia, says IRI Forest Management SRL public relations manager Raluka Buzja.

«Together with this deal, our portfolio in Latvia has reached 90,000 ha,» she said.

Buzja adds that investments in forestry are part of the strategy for long-term resource production for IKEA Group, which includes raw wood materials, recycled materials, etc. This is why IKEA invests in forested land in Latvia, Lithuania, Estonia, Romania and USA.

Commenting on IKEA’s main goals behind investments in forested land in Latvia, she mentioned that the group’s priority is working on a sustainable approach to forest management and realizing principles of the Forest Supervisory Council together with partners. «Our responsible forest managements means balanced environment protection together with community needs and the forest’s economic role,» she said.

Information published on the website of IRI Forest Assets Latvia shows that the company owns 50,207 ha of land, including 40,274 ha of forested land, 10,370 ha of agricultural land and 3,563 ha of other types of land.


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