Hepsor E18 SIA, Hepsor AS Group company, signed a 5.25 million euro loan agreement to finance the construction of development project
On 11 February 2026, Hepsor E18 SIA and BluOr Bank AS signed a loan agreement in the amount of 5.25 million euros. The five-year loan is intended to finance the construction and infrastructure development of the Ķiršu Kalna Mājas residential project at Eiženijas iela 18, Dzirciems, Riga.
The development includes the construction of two apartment buildings with a total of 54 apartments. Construction and sales of the project have already commenced, and the planned completion date is the first quarter of 2027. The total cost of the development project is 8.5 million euros.
At the time of signing the loan agreement, 41% of the apartments in the project had been reserved or pre-sold.
More information about the “Ķiršu Kalna Mājas” project is available at:
To date, Hepsor has completed a total of 404 homes in Latvia, 98% of which have been sold. In the coming years, more than 500 new homes are expected to be completed.
Martti Krass
Member of the Management Board
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Hepsor AS () is a developer of residential and commercial real estate. The Group operates in Estonia, Latvia, and Canada. In fourteen years of operation, we have created 2,003 homes and nearly 44,787 m2 of commercial space. Hepsor is the first developer in the Baltic states to implement a number of innovative engineering solutions that make the buildings it constructs more energy efficient, and thus more environmentally friendly. The company’s portfolio includes 25 development projects with a total area of 178,200 m2. In addition, the Group is active in five projects in Canada, where the main activity is the preparation of detailed spatial plans for land, thereby achieving greater building rights.
