Hepsor RD5 SIA, Hepsor AS group company, signed construction agreement for the construction of Nameja Rezidence project in Riga

Hepsor RD5 SIA, Hepsor AS group company, and Mitt&Perlebach SIA signed a construction agreement on 16 March 2023 for the construction of the Nameja Rezidence development project in Riga. The value of the construction agreement is approximately 4.6 million euros excluding VAT.

The sales of the project started already in the fourth quarter of 2022. The 38-apartment project will be completed in the second quarter of 2024.

According to Henri Laks, member of the Management Board, the Nameja Rezidence development project represents the green way of thinking promoted by the Group combining it with the comforts of the city life with the surrounding green areas and peaceful living environment. " We started with the sale of homes at the end of the year, and to date approximately 16% of the apartments have already been sold. Home buyers today increasingly appreciate an environmentally conscious approach, including the proximity of green areas, A-energy class label, charging points for electric cars, storage rooms for bicycles and baby carriages, and playgrounds. We have put emphasis on all of this in the development of the Nameja Rezidence project," said Laks.

Additional information:

In addition to the Nameja Rezidence project, Hepsor has two residential development projects under construction and sale in Latvia - Kuldigas Parks (116 apartments, of which 95% have been sold) and Marupes Darzs (92 apartments, of which 85% have been sold).

More information about Nameja Rezidence project can be found namejarezidence.lv/eng.

Anneli Simm
Head of Investor Relations
Phone: +372 5615 7170
e-mail: anneli@hepsor.ee

Hepsor AS (www.hepsor.ee) is one of the fastest growing residential and commercial real estate developers in Estonia and Latvia. Over the last eleven years Hepsor has developed more than 1,500 homes and 32,000 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 26 development projects with a total sellable space of 176,000 m².