Announcement View
Company Hepsor AS
Type Company Release
Category Other corporate action
Publicize date 17 Jan 2022 09:21:59 +0200
Kell English
Title Hepsor U30 SIA, Latvian subsidiary of Hepsor AS, signs a loan agreement to finance the construction of stock-office development project
Hepsor  U30 SIA, a  subsidiary of Hepsor  AS in Latvia,  signed a loan agreement
with  Bigbank AS  Latvian affiliate  on 14 January  2022 for the amount of 2.65
million  euros. The purpose of the loan is to finance the construction of stock-
office  in Riga, Ulbrokas 30. Total leasable  area of 3,645 sqm is fully covered
with  lease  agreements.  The  expected  completion  of construction is in third
quarter 2022.

According  to  Henri  Laks,  member  of  the  Management Board of Hepsor AS, the
development  of stock-office  projects is  one of  the company's strategic focus
areas  in Latvian  market. Besides  Ulbrokas 30 stock-office development project
Hepsor   has  another  two  stock-office  projects  in  early  stages  in  Riga.
Approximately  8,000 sqm stock-office project in Riga at Ulbrokas 34 is expected
to  be completed in 2023. At the end of 2021 Hepsor signed contract under law of
obligations  to acquire a property at Ganibu Dambis 17a, Riga. Hepsor intends to
use  the property for developing a business complex with extensive opportunities
such  as offices, warehouses, and retail space.  The total volume of the project
is  approximately 25,000 m(2),  the first  part of  which should be completed in
2024. The completion of the whole project is expected in 2025. Both projects are
based  on Hepsor's  concept of  green thinking  for commercial real estate using
environmentally friendly innovative engineering solutions.

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).