Subsidiary of Hepsor AS acquires a property in Riga for development of 40-apartment residential building

Hepsor JG SIA, a subsidiary of Hepsor AS, signed a sale-purchase agreement on 1 September 2022, for acquiring a property in Jurmala Gatve Street, Imanta district, Riga. The property will accommodate a three-storey A-energy class residential building with 40 apartments and sellable area of approximately 2,500 m².

According to Henri Laks, member of the Management Board of Hepsor AS, the location of the property in the immediate vicinity of the Anninmuiža park, and the A-energy class of the planned building support the Group's concept of green thinking. Construction of the new development project is expected to start at the end of 2023.

Additional information:

Hepsor has four residential development projects in Latvia in various stages. All 18 apartments in the Baložu 9 development project, completed this year, have been handed over to their owners. The Kuldīgas Parks development project, which is expected to be completed in the second quarter of 2023, has 67 of 116 apartments sold and 4 booked. The Mārupes Dārzs development project, which is also expected to be completed in the second quarter of 2023, has 48 of 92 apartments sold and 1 booked. 28 of the 54 apartments in the Strēlnieku 4b development project have been sold to date. 

Anneli Simm

Head of Investor Relations

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Hepsor AS () is one of the fastest growing residential and commercial real estate developers in Estonia and Latvia. Over the last ten years Hepsor has developed more than 1,400 homes and 23,000 m² of commercial space. Hepsor has been the first real estate developer in the Baltic States to implement a number of innovative engineering solutions that make the buildings we construct more energy-efficient and thus more environmentally friendly. The company's portfolio is comprised of 25 development projects with a total sellable space of 176,000 m².