Invego Started Construction of the Second Phase of the 40 Million Euro New-Järveküla Residential Area
Real estate developer Invego has begun construction of the second phase of the Uus-Järveküla residential district, worth 40 million euros, during which 30 new row houses and semi-detached homes will be completed in the first half of 2025.
"In recent months, we have sold a dozen new row houses and semi-detached homes in Uus-Järveküla, which is a very good result. Of course, the market is much quieter than it was two or three years ago, but well-thought-out new developments that offer added value are still selling today," explains Kristjan-Thor Vähi, the head of Invego, regarding the decision to begin construction of the next phase.
According to Vähi, today's typical homebuyer considers several different options and then makes a decision. "The so-called peak days of paper sales are over for now. At the same time, strong developers continue their work and the value they create is both visible to the eye and tangible to the touch for the buyer," says Vähi, noting that starting construction of the new phase is also important for the dozens of families already living in Uus-Järveküla. "Invego's strength is the development of complete residential districts, and you can fully enjoy this once the entire district is completed," Vähi is convinced.
In total, 165 row houses and semi-detached homes will be built in the Uus-Järveküla residential district for families who wish to live in the midst of nature, in close proximity to the city, and who value privacy and closeness to nature that apartment living does not offer. Uus-Järveküla has shops, schools and kindergartens within convenient proximity and good connections to the city both by public transport and by car. In the second phase, three row houses and eight new semi-detached homes will be built along Uus-Järveküla Road and Kindluse Road.
The Uus-Järveküla residential district is being developed by Invego and the financial partner for the project is EfTEN Capital's real estate fund EfTEN United Property Fund. Uus-Järveküla was designed by PIN Architects and construction work is being carried out by NOBE.
Invego is one of Estonia's leading real estate development companies, which has built over 1,200 homes and 25,000 m2 of commercial space in Tallinn and its surroundings in recent years. Invego's largest developments include the recently completed Tiskreoja and Tabasalu Kodu as well as the currently ongoing Luccaranna and Keila Parkihomes residential districts.
