Announcement View
Company Hepsor AS
Type Company Release
Category Other corporate action
Publicize date 12 Jan 2022 19:15:51 +0200
Kell English
Title Subsidiary of Hepsor AS to acquire 50% of Latvian residential property project of 116 apartments
Subject  to an  option agreement  signed in  2021 Hepsor Latvia  OÜ exercised an
option  to  acquire  50% of  Kvarta  Holding  OÜ. Kvarta Holding OÜ owns 100% of
Kvarta  SIA, which is developing a 116-apartment residential property at Gregora
2a, Riga.

According  to  Henri  Laks,  member  of  the  Management Board of Hepsor AS, the
transaction  took  place  in  accordance  to  the  agreement  and  the Group had
considered exercising the option in earlier published forecasts.

Additional information:

The  construction of  two residential  properties for  116 apartments started at
Gregora  2a, Riga in the third quarter 2021.  As at 31 December 2021, a total of
20 apartments  were sold  under law  of obligations.  The expected completion of
project is in 2023.

More    information   about   Kuldigas   Parks   project   can   be   found   at

Anneli Simm
Head of Investor Relations
Phone: +372 5615 7170

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 1,300 homes and 15,000 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 186,000 m(2).