Invego Invests Over 50 Million Euro in New Residential District Development in Latvia
Real estate developer Invego is investing more than 50 million euros in the construction of the Mārupes Sirds residential area spanning 12 hectares near Riga, with the first phase completing 50 townhouses in the first half of 2027.
According to Invego's CEO Kristjan-Thor Vähi, the Mārupes Sirds residential area will draw on Invego's previous experience from developing similar residential areas in Estonia. "In terms of scale, Mārupes Sirds is comparable to the Tiskreoja residential area we built in Harku municipality, but for the first phase townhouses we are also using the best practices from the particularly successful Uus-Järveküla," Invego's CEO draws parallels between the Estonian and Latvian developments.
Mārupes Sirds is Invego's sixth development project in Latvia. According to Kristjan-Thor Vähi, larger townhouse developments in Latvia are a relatively new and still emerging segment. "True to Invego's character, this residential area will be much more than simply a collection of modern buildings. We are creating a peaceful and inspiring environment that offers comfort, closeness to nature and energy efficiency," describes Vähi and confirms that great attention is being paid to infrastructure improvements and the creation of shared spaces, the future residential area is surrounded by greenery and the Jaunmārupe nature park is located nearby.
The first development phase of Mārupes Sirds consists of townhouses where each home has a garden and a spacious terrace, allowing residents to enjoy privacy and spend time in the fresh air. The A energy class homes are equipped with all modern amenities, including underfloor heating, a modern ventilation system and large floor-to-ceiling windows that bring plenty of natural light into the spaces. The architectural solution was created by Latvian firm Tectum architect Uldis Bērziņš.
In the Latvian capital, Invego is developing the Vitolu Parks residential area, along with development partner Reterra the Parka Kvartals, Skanstes Rezidences and Miera Rezidences, and townhouses in the Vide Adaži and Mārupes Sirds developments in the immediate vicinity of Riga.
Among real estate developers in Tallinn and its surrounding area, Invego ranks second by number of new homes sold in the cumulative count of the last five years with 900 homes. The largest completed developments so far are Vana-Peetri, Tiskreoja and Tabasalu Kodu, and the currently ongoing Luccaranna, Uus-Järveküla and Keila Pargikodude residential areas. The company has also built over 50,000 m2 of commercial space.
