Baltic Real Estate Awards 2023 are for Baltic region real estate projects, or phases of large projects completed for occupancy during the year 2022. 

Public can also participate in Public Choice Awards by voting for their favourite projects.  



Best office & business development 
This category rewards newly constructed office buildings and business parks that offer owners and users increased worker satisfaction and productivity, improved health, greater flexibility and enhanced energy and environmental performance of the workplace. Through an integrated design, the focus must be on the ability to accommodate the specific space and equipment needs of the tenant. 

Best residential development 
This category celebrates new developments that provide the best housing opportunities, while adopting originality and aesthetics. An integrated urban design, as well as a smart-site planning, is important for the residential project to merge well with the wider community and surrounding neighborhood. 

Best industrial project 

This category seeks to award a distinguished facility that meets several criteria of what makes industrial property future proof. Integrated modern and innovative logistic facilities, maintenance, efficient work planning and implementation are important factors for modern industrial centres. 

Best shopping center 

This category rewards the new, expanded or reconstructed shopping centre, retail park or factory outlet which succeeds in encouraging and retaining traffic, while offering a unique shopper experience through new technologies, services, customer loyalty programmes and architectural features that aim to increase footfall and customer satisfaction. 

Best hotel & tourism resort  

This award honours the most innovative newly-constructed hotel in terms of architecture and  interior design, while also considering client well-being, services provided to guests, leisure and recreational facilities and environmental aspects.  

Best future project

This category aims to award projects that are already under construction and whose implementation will significantly improve the image of the city. Compatibility with the surrounding areas, architectural uniqueness, as well as solutions for new public spaces and infrastructure, and social innovation—are some of the criteria for urban developments that are transforming cities.


The awards are judged according to the following key criteria: 

  • Innovation & Design showing new ideas, approaches or execution models that enhance the project’s tenant appeal, efficiency and value in relation to its environment, public and media recognition, sustainability; 

  • Location & accessibility effective site selection credentials, catchment capacity, transport access, etc.; 

  • Quality & punctuality of construction process; 

  • Integration and impact of the project on its environment and community/city. 

Awards partners:


Jury members: 

Mindaugas Statulevičius, President of the Lithuanian Real Estate Development Association(Lithuania)

Ardi Roosimaa,  Founder and Chairman of the Board of Restate Property Advisors (Estonia)

Martins Vanags, Director of the Latvian Alliance of Real Estate Developers (Latvia)

Evelina Povilaitytė, Editor of Construction and RE column at Verslo Žinios (Lithuania)

Linas Naujokaitis, Architect. Vilnius Tech University, Faculty of Architecture, Associate Professor (Lithuania)

Zane Tetere–Šulce, Founder and leading architect of an architecture firm Open AD (Latvia)

Indrek Allmann, Founder and leading architect at architecture firm Pluss Architects (Estonia) 



  • Phase I. A list of projects completed in Lithuania, Latvia, and Estonia in 2022 is drawn up by Newsec Baltics and Ober-Haus Real Estate. Based on the detailed criteria, Newsec Baltics will select TOP projects in the office, retail, industrial, and hotel & tourism resort categories and Ober-Haus Real Estate will select TOP projects in the residential development category. TOP real estate projects of the year 2022 will be selected for the further evaluation process. 

  • Phase II. Developers of TOP projects will be invited to complete applications (questionnaires) and provide more details and visuals of their projects. 

  • Phase III. TOP projects with completed applications (questionnaires) will be provided to the awards Jury for further evaluation. 

  • Phase IV. TOP projects will be visited by the awards Jury for the final stage of the evaluation. The Jury will evaluate the projects on the basis of the detailed criteria within the relevant area of competence. The scores of the Jury will be added up to identify the top-scoring projects in each category. 

  • Phase V. The winners in each category will be announced and awarded at the Baltic Real Estate Awards during the Baltic Real Estate and Investment Forum 2023 on June 1st. 

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