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.

About Hepsor AS:
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.