Invego Vitolu Parks SIA, part of the real estate development group Invego, has signed a construction agreement worth €51.9 million (€42.9 million without VAT) with the Latvian company Pillar Contractor SIA for the development of the residential district Vītolu Parks in the Sarkandaugava area of Riga.
The signed contract covers the construction of all 8 buildings of the residential district, with 2 houses to be completed in the first phase starting in the coming weeks. In the Vitolu Parks residential area, Invego plans to build a total of 363 apartments with a gross floor area of 32 157 m2. Pillar Contractor SIA is one of Latvia's leading and most valued construction and design companies.
Invego Latvia OÜ owns 100% of Invego Latvia SIA, which owns 20% of Invego Vitolu Parks Holding SIA, an owner of 100% of Invego Vitolu Parks SIA, that has signed the construction contract.
The developer of the Vitolu Parks project is Invego SIA, which is 100% owned by Invego Latvia SIA, owned 100% by Invego Latvia OÜ.
Additional information:
Martin Tamme
Management Board Member, Invego Latvia OÜ
Email: martin.tamme@invego.ee
Phone: +372 511 0340
Invego is a next-generation real estate developer operating in three countries, specializing in the creation of large-scale residential and commercial districts with forward-thinking, comprehensive urban design concepts. With over 10 years of experience, the Invego Group includes more than 60 companies across Estonia, Latvia, and Portugal, and currently manages nearly 30 development projects. In Estonia Invego completed over 150,000 m² of developed space, including over 1300 new homes in Estonia with an additional 450,000 m² of residential and commercial real estate in the pipeline.