PHOTOS: Large residential development finally complete, roof-raising ceremony held for final six houses in Uus-Järveküla
EfTEN United Property Fund and Invego's joint Uus-Järveküla residential area, which cost more than 40 million euros, held the topping-out ceremony for the last of its houses, and the development with 165 row and semi-detached homes will be completed early next year.
According to Kristjan-Thor Vähi, head of Invego, over four-fifths of the homes in Uus-Järveküla have been sold. "We managed very well a few years ago to meet people's current expectations, which is why even during a couple of difficult years on the real estate market, new homeowners continuously moved to Uus-Järveküla. The sufficient space and privacy offered by row houses and the peaceful location with a green environment are the main features that many families with children expect from a new home," said Vähi, and when listing the strengths, he emphasized that shops, schools and kindergartens are all within walking distance and at the same time there is smooth connectivity to Tallinn's city center.
According to Vähi, Uus-Järveküla residential area is an example of how good partners, a strong vision and a dedicated team can create a comprehensive and comfortable living environment. "You can see that Uus-Järveküla residents really like living here, because the major sales work is actually done by those who boldly invite their friends to live here," said Vähi, adding that of course another great plus is the comprehensive outdoor area that has already become Invego's trademark, which includes climbing and play areas for children of various ages and diverse opportunities for sports and leisure activities.
Uus-Järveküla residential area is being developed by Invego and the project's financial partner is EfTEN Capital's real estate fund EfTEN United Property Fund. Uus-Järveküla was designed by PIN Architects and construction works are carried out by NOBE.
Invego is a new generation real estate developer operating in three countries, specialized in creating large residential areas and business quarters with comprehensive concepts that create the urban space of the future. With a history of activity spanning more than 10 years, the Invego group includes over 60 companies in Estonia, Latvia and Portugal and currently has nearly 30 different development projects underway. Invego has developed more than 150,000 m2 and is currently working on 450,000 m2 of residential and commercial real estate.
Among companies developing real estate in Tallinn and its surroundings, Invego ranks second in terms of the number of new homes sold in the past five years with 900 homes. The most extensive developments completed so far include Vana-Peetri, Tiskreoja and Tabasalu Kodu, and the currently ongoing residential areas of Luccaranna, Uus-Järveküla and Keila Pargikoodu. The company has also built over 50,000 m2 of commercial space.
In Latvia's capital, Invego is developing the residential area Vitolu Parks and Mārupes Sirds, together with development partner Reterra Parka Kvartals, Skanstes Rezidences and Miera Rezidences, and row houses in the Vide Adaži development in the immediate vicinity of Riga.
In southern Portugal, Silves Hills is under development on 65 hectares with 154 villas, which are suitable for both year-round living and seasonal use.
