Invego Concludes 11 Million Contract with Marupe Heart Residential Area Builder

Invego concluded an 11 million euro (9.1 million euros excluding VAT) construction contract in Latvia with the company EKOTEH BŪVE SIA for the development of a large-scale Mārupes Sirds residential neighborhood near Riga. 

The first phase of the residential neighborhood with 65 new homes will be completed next year. The strategic financial partner for the development is EfTEN Special Opportunities Fund. "Mārupes Sirds is an ambitious development and signing this contract marks an important milestone for the project. Mārupe is one of the most desirable residential areas near Riga, and we are committed to creating quality and sustainable neighborhoods that will serve families for decades. Cooperation with EKOTEH BŪVE SIA ensures that the project will be executed at the level that future residents expect. Our concept always puts people first and we follow this principle in every step we take," said Kristjan-Thor Vähi, CEO of Invego.

 The construction contract includes the construction of two apartment buildings (50 apartments in total), 15 townhouses, a recreation area, and a new neighborhood road. Construction work will begin in the third quarter of 2026 as planned, and the first phase will be completed by the end of 2027.

 "We are pleased that Invego trusted us to implement this ambitious project. Mārupes Sirds is a modern residential neighborhood whose high quality and sustainability standards align perfectly with our construction approach. The EKOTEH BŪVE team ensures that the project will be completed according to the agreed schedule, with high construction quality, while paying special attention to energy efficiency, safety, and the comfort of future residents. We are confident that together we will create a living environment that both its residents and the entire Mārupe community will be proud of," said Oskars Petrovs, Chairman of the Board of EKOTEH BŪVE SIA. 

Mārupes Sirds is an A-energy class residential neighborhood that offers daily comfort and modern homes in the midst of Mārupe's greenery. The project, created by architect Uldis Bērziņš and the TECTUM team, combines modern architecture with a well-thought-out living environment featuring plenty of light, large balconies, spacious terraces, private gardens, and courtyards. As the development progresses, the neighborhood will grow into a complete residential area with green spaces, sports and recreation zones, playgrounds, cycling paths, and necessary infrastructure. Upon complete completion, Mārupes Sirds will comprise over 400 different types of homes, becoming one of the most prominent new residential areas near Riga. 

The project is developed by Invego Marupe Sirds SIA, which is wholly owned by Invego Marupe Sirds Holding SIA. From the holding company, 50% belongs to Invego Latvia SIA (100% subsidiary of Invego Latvia OÜ) and the remaining 50% belongs to another investor, EfTEN Special Opportunities Fund. 

EKOTEH BŪVE SIA is a Latvian construction company specializing in the construction of residential, commercial, and public buildings and offering full general contracting services. The company implements projects of various sizes and complexities throughout Latvia, focusing on meeting deadlines, high construction quality, and the implementation of sustainable solutions. EKOTEH BŪVE's mission is to create a safe, quality, and long-lasting living environment for its clients and society as a whole. 

Invego Group is a next-generation real estate developer operating in three countries, specializing in the development of large-scale residential neighborhoods and business quarters with comprehensive concepts that create future urban spaces. With more than 10 years of operational history, Invego Group comprises over 60 companies in Estonia, Latvia, and Portugal, and currently has 30 different development projects underway. Invego Group has developed over 150,000 m² of residential space, totaling 1,500 homes, and 50,000 m² of commercial real estate. Additionally, there are over 500,000 m² of development capacity under way in both residential and commercial real estate sectors.  

In recent years, Invego has built new homes for more than a thousand families in Tallinn and its vicinity. The most extensive developments completed so far are Vana-Peetri, Tiskreoja, and Tabasalu Kodu, and currently underway are the Luccaranna, Uus-Järveküla, Keila Pargikodude, and Verve residential neighborhoods.  

In Latvia's capital, Invego is developing the Nordale, Tornakalna Terases, and Vitolu Parks residential neighborhoods, and together with development partner Reterra, the Parka Kvartals, Skanstes Rezidences, and Miera Rezidences residential neighborhoods. In the immediate vicinity of Riga, Invego is developing the large-scale Mārupes Sirds residential neighborhood and the Vide Adaži residential area consisting only of townhouses. In southern Portugal, the 65-hectare Silves Hills with 154 villas is currently under development, suitable for both year-round living and seasonal use.