Hepsor AS acquired new properties in Latvia

On 25.08.2023, Hepsor Latvia OÜ, a subsidiary of Hepsor AS, signed a share purchase agreement, which will acquire 50% of the shares of SIA "Riga Properties 4". SIA "Riga Properties 4" has signed a purchase agreements for the purchase of two properties in the Riga district of Latvia located at "Līdumi", Dreiliņi, Stopiņu rural municipality, Ropažu nov., LV-2130 with a total area of 74,314 m² and the company's goal is to develop approximately 40,000 m² of commercial premises on these properties in stages.

"Hepsor is pleased to announce starting a new commercial real estate project on the Riga market, where only recently we completed a successful sales transaction of a stock-office-type commercial building" said Henri Laks, Member of the Management Board. "The properties are located in an attractive area next to the IKEA store and the SAGA shopping centre, where we plan to create a unique business campus with a green mindset, consisting of commercial premises with different functions, including stock-office type commercial buildings."

Hepsor's partners in the development of the properties are Rīgas Īpašumu Fonds SIA and Venturecorp Property Holdings UAB, which have developed the adjacent SAGA shopping centre as well as the newly opened Kurna Park in Estonia.

Henri Laks

Member of the Management Board

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Hepsor AS () is one of the fastest growing residential and commercial real estate developers in Estonia and Latvia, which is also present on the Canadian real estate market since 2023. Over the last twelve years Hepsor has developed more than 1,600 homes and ca 36,000 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 199,500 m².