Leading Estonian new era real estate company Invego has simultaneously started development of four new living districts with homes worth more than 135 million euros and officially opened its office in Riga.
“We have prepared our market entry for several years and now have grown very rapidly in Latvia within last ten months as we see the growing demand for new modern homes built and equipped with modern technology. With over 50 thousand square meters of living space under construction and about five times more already waiting in pipeline it was about the time to open our own office in Riga,” says Kristjan-Thor Vähi, CEO of Invego emphasizing that the overall investment amount already exceeds 135 million euros.
Invego is known for developing entire living districts with “Today, it’s not only about four walls and a roof, but the whole environment that counts as people have learned to demand more. As for many people the new home is their biggest investment, it is very important that it’s value will grow in time, and we are always committed to this,” says Kristjan-Thor Vähi, CEO of Invego adding that company already develops four projects in Latvia: 2nd stage of the residential district “Parka kvartāls” is underway In Pārdaugava, in Skanstes the project “Skanstes rezidences” and an apartment quarter “Vītolu parks” will be built near Mežaparks. In Ādaži the construction of a new row house village “Vide Ādaži” is actively underway.
Last year, “Invego” sold new homes worth 50 million euros. In previous year in Estonia 215 new homes with a total area of 15,700 square meters and an average selling price of 227,000 euros were sold within the framework of the “Luccaranna“, “Tiskreoja” and “Uus-Järveküla” projects.
Invego is one of Estonia’s leading real estate developers, having built more than 1,250 houses and 30,000 square metres of commercial space in and around Tallinn in recent years. In Estonia, Invego’s major projects include the recently completed “Tiskreoja” and “Tabasalu Kodu”, as well as the “Luccaranna”, “Uus-Järveküla” and “Keila Pargikodude” residential areas, which are currently under construction. In the Latvian capital, the company is developing the “Parka kvartāls”, “Skanstes rezidences” and “Vītolu parks” projects, as well as the “Vide Ādaži” development near Riga. In 2024, Invego also launched “Silves Hills”, a villa development in Portugal.