Invego Building 135 Million Euro Worth of New Homes in Latvia and Opens Office in Riga

Estonian real estate developer Invego has started the development of four large residential areas in Latvia, totaling 135 million euros, and recently officially opened an office in Riga.

"We have expanded rapidly over the past year and currently have over 50,000 square meters of new homes under construction in Latvia. This has been preceded by 5 years of thorough preparatory work and, of course, a decade of valuable experience in Estonia," says Invego's CEO Kristjan-Thor Vähi, who notes that the company currently has several times larger development projects in the preparation phase in Latvia.

Invego is primarily known for developing comprehensive residential areas. "Today it's not just about four walls and a roof, but the entire environment, because homebuyers are becoming increasingly aware of their needs and wishes, and at the same time consider it important that the value of their property grows over time. While Invego's approach is already familiar and appreciated in Estonia, for Latvians our approach is rather novel and Western," says Invego's CEO Kristjan-Thor Vähi.

In Riga, Invego is conducting construction work on phase 2 of the Parka kvartāls project with 120 homes, and sales have begun for the Vītolu Parks residential area with 360 apartments and Skanstes rezidences with 67 apartments. In Ādaži, in the immediate vicinity of the Latvian capital, construction is actively underway on the new Vide Ādaži residential area, which consists solely of townhouses and will create 86 new homes.