Announcement View
Company Hepsor AS
Type Company Release
Category Other corporate action
Publicize date 21 Nov 2022 09:30:00 +0200
Kell English
Title Hepsor AS established a new subsidiary, Hepsor Kanada OÜ
Hepsor AS has started the process of establishing a subsidiary in Canada. A new
entity recently founded in Estonia will hold a share in the Canadian subsidiary
The purpose of establishing a subsidiary in Canada is to enter the local real
development market. At the moment, negotiations with a potential candidate for
the executive position in the new company are in progress, and the first
are being sought. Operations at the Montreal headquarters will most likely be
launched between March and April 2023. The objectives for the first nine months
are to get to know the local market, build a network of partners and identify
suitable niches for Hepsor. The first investments such as land acquisitions are
expected to
be made in the first half of 2024.
"Canada has one of the most developed economies in the world, with an
exceptionally open and supportive business climate for newcomers. The country
has a strong education system and a very good international reputation," said
Andres Pärloja, Chairman of the Supervisory Board of Hepsor. "Most importantly
for a real
estate developer, the country's population grows by nearly 500,000 people
annually, and there is a constant shortage of high-quality housing as well as
and logistics facilities," Pärloja added.

Anneli Simm
Head of Investor Relations
Phone: 56157170

Hepsor  AS  (  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 28,000 sqm 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 179,000 sqm.