Announcement View
Company Hepsor AS
Type Company Release
Category Other corporate action
Publicize date 20 May 2024 07:00:00 +0300
Kell English
Title Hepsor U34 SIA, Hepsor AS group company, signed construction agreement for the construction of StokOfiss 34 project in Riga
Hepsor  U34  SIA,  a  subsidiary  of  Hepsor  AS Group, and construction company
Mitt&Perlebach  signed a  contract on  May 17, 2024, for  the construction  of a
development project called StokOfiss 34 in Riga at Ulbrokas 34. The construction
contract   is   approximately  9.6 million  euros,  plus  value-added  tax.  The
development  will consist of a commercial  building with office, commercial, and
warehouse  space  totaling  approximately  8,740 square  meters.  Completion  is
planned for the third quarter of 2025.

StokOfiss U34 is designed with Hepsor's green mindset in mind, and the building
has been issued an energy class A and BREEAM sustainability certificate at the
"Very good" level.

"StokOfiss U34 brings high-quality and modern business space to the Riga market,
allowing clients to consolidate office, commercial, and warehouse spaces under
one lease," said Henri Laks, a member of the Management Board.

Additional Information:

StokOfiss U34 is the second stage of Hepsor's commercial building development on
Ulbrokas Street. The first stage, StokOfiss U30, was completed in the fourth
quarter of 2022 and sold to the investment fund East Capital in the second
quarter of 2023.

In addition to the StokOfiss 34 project, Hepsor is also constructing commercial
spaces at Manufaktuuri 7 in Tallinn, and in 2024, construction of commercial
spaces will also begin at the Manufaktuuri 5 project, where, in addition to
commercial spaces, modern residential spaces will be built in the historic
former main building of the Baltic Cotton Spinning and Knitting Factory.

More     information     about     StokOfiss    34 project    can    be    found

Henri Laks
Member of the Management Board
Phone: +372 5693 9114


Hepsor AS ( is one of the fastest growing residential and
commercial real estate developers in Estonia and Latvia, operating also in the
Canadian real estate market since 2023. Over the last thirteen years Hepsor has
developed more than 1,600 homes and 36,000 m2 of commercial space. Hepsor was
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 24 development projects with a total sellable space of 171,000