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
https://hepsor.lv/kuldigasparks/en/
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 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).
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