The name of the subsidiary of Hepsor AS is corrected as reflected in bold in the
following paragraph.
Hepsor Ganibu Dambis SIA, a subsidiary of Hepsor AS, signed a real right
contract and acquired a property of 30,624 m(2) in Ganibu Dambis 17A, City of
Riga on 13 June 2022. The contract under law of obligations was signed on 28
December 2021. The property has 13 buildings of different commercial
functionality and approximately 70% of its total area of 11,564 m(2) is covered
by lease agreements. The price of the transaction is 3,6 million euros.
Henri Laks, Member of the Management Board of Hepsor AS, said: ?This investment
supports our growth strategy and adds a net of 20,500 sqm of new business space
in city of Riga. The new space will be developed in accordance with our green
approach. We plan to build a business complex with extensive opportunities
including stock-office type of buildings but also offices, warehouses, and
retail space. The existing buildings are mostly covered with lease agreements
thus allowing us to choose the best moment in starting with the first phase
construction in today's changing market situation. 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."
Additional information:
Hepsor has four commercial and seven residential development projects in Latvia.
Balozu 9 residential development project of 18 apartments was completed in the
first quarter of 2022. Real right contract has been signed for 17 apartments.
Stock-office at Ulbrokas 30, Riga is expected to be completed in the third
quarter 2022. The 3,645 sqm stock-office is fully covered with lease agreements.
In the second quarter of 2023 the construction of Kuldigas Parks project of two
residential properties for 116 apartments in Riga, which was started in the
fourth quarter of 2021, will be completed (total of 45 contracts under law of
obligation and booking agreements have been signed). In the second quarter of
2022 the construction of Marupes Darzs development project of two residential
properties for 92 A energy efficiency class apartments was started (total of 43
contracts under law of obligation and booking agreements have been signed).
Anneli Simm
Head of Investor Relations
Phone: +372 5615 7170
e-mail: anneli@hepsor.ee
Hepsor AS (www.hepsor.ee/en/
(https://www.globenewswire.com/Tracker?data=mRv0CUcpK2Aj6n0bEbdn15eRlcmeB5NnbHOF
zgeK__71cpz2ais5VrVg6LvpUPRnv_Fj4HRbonxN_CBD0bRlxlNRQ_MUyYUHLtZtI_Mmc6Y=)) 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
1,400 homes and 23,000 m(2) 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
25 development projects with a total sellable space of 176,000 m(2).
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