{"id":9178,"date":"2025-05-20T11:16:31","date_gmt":"2025-05-20T08:16:31","guid":{"rendered":"https:\/\/invego.ee\/?p=9178"},"modified":"2025-05-20T11:44:08","modified_gmt":"2025-05-20T08:44:08","slug":"invego-signs-e51-9-million-construction-contract-for-vitolu-parks-with-pillar-contractor","status":"publish","type":"post","link":"https:\/\/invego.ee\/en\/invego-signs-e51-9-million-construction-contract-for-vitolu-parks-with-pillar-contractor\/","title":{"rendered":"Invego Signs \u20ac51.9 Million Construction Contract for V\u012btolu Parks with Pillar Contractor"},"content":{"rendered":"\n

Real estate developer Invego has signed a construction agreement worth \u20ac51.9 million (\u20ac42.9 million without VAT) with Pillar Contractor for the development of the sustainable residential district V\u012btolu Parks<\/em> in Sarkandaugava, Riga. Construction work of the large-scale development is about to start in nearest weeks.<\/strong><\/p>\n\n\n\n

\u201cV\u012btolu Parks<\/em>, envisioned as a modern, environmentally friendly residential district with 360 apartments and thoughtfully designed green surroundings, is one of our most important projects in Latvia, and we are pleased to begin cooperation with a trusted partner \u2013 Pillar Contractor,\u201d says Kristjan-Thor V\u00e4hi, CEO of Invego that is well known as a developer of large and complex living districts. \u201cIn this project, the competence of our partner and the ability to confidently deliver on our vision of a high-quality, people-oriented living environment were crucial. We are confident that this cooperation will be successful and will contribute to Riga\u2019s urban landscape with high-quality, sustainable homes.\u201d<\/p>\n\n\n\n

\u201cWe are glad to bring our experience in constructing energy-efficient apartment buildings to a project of such scale. Building a residential quarter is a great responsibility, and we will approach it with the utmost care, considering every detail \u2014 no detail is too small in projects like this,\u201d emphasizes J\u0101nis L\u0101\u010daunieks, Chairman of the Board at Pillar Contractor.<\/p>\n\n\n\n

The new A-class energy-efficient residential district will consist of eight seven-storey buildings surrounded by a park with multiple courtyards, playgrounds, pedestrian and bicycle paths, as well as numerous sports and recreational areas. V\u012btolu Parks<\/em> architecture was created in collaboration with \u201cRUUME arhitekti\u201d and it will offer modern apartments in a green setting, combining contemporary architecture, sustainable solutions, and natural surroundings \u2014 just a short distance from Riga city center, between the vibrant Skanste district and the tranquil Me\u017eaparks.<\/p>\n\n\n\n

V\u012btolu Parks<\/em> will be developed in four construction phases, and apartments in the first buildings are already available for purchase. Construction of the first phase will begin this month, and the first two buildings are expected to be completed next year.<\/p>\n\n\n\n

About Pillar Contractor<\/strong><\/p>\n\n\n\n

Pillar Contractor is an experienced construction and design company that has been actively strengthening its position in the Latvian market since 2015. The company specializes in full-cycle construction and design services, delivering technically complex and large-scale projects across various sectors.<\/p>\n\n\n\n

The company\u2019s integrated management system has received internationally recognized ISO certifications from world class auditor Bureau Veritas: ISO 9001, ISO 14001, and ISO 45001. Pillar Contractor also uses BIM technologies in daily operations to improve project management, reduce risks, and optimize timelines.<\/p>\n\n\n\n

About Invego<\/strong><\/p>\n\n\n\n

Invego is a new-generation real estate developer operating in three countries, specializing in the creation of large-scale residential areas and business quarters with an integrated concept that creates future urban space. With over 10 years of operational history, the Invego group includes over 30 companies in Estonia, Latvia, and Portugal, and has about 30 different development projects in progress. Invego has developed more than 150,000 m\u00b2 and has an additional 450,000 m\u00b2 of residential and commercial real estate in progress.<\/p>\n\n\n\n

Among companies developing real estate in Tallinn and its surroundings, Invego ranks second in terms of new homes sold over the past five years, with 900 homes. Its largest developments to date include the completed Vana-Peetri<\/em>, Tiskreoja<\/em>, and Tabasalu Kodu<\/em>, as well as the currently ongoing Luccaranna<\/em>, Uus-J\u00e4rvek\u00fcla<\/em>, and Keila Pargikodud<\/em> residential areas. The company has also developed over 50,000 m\u00b2 of commercial space.<\/p>\n\n\n\n

In the Latvian capital, Invego is developing residential areas V\u012btolu Parks<\/em>, and together with development partner Reterra developing Parka Kvart\u0101ls<\/em>, Skanstes Rezidences<\/em>, and Miera Rezidences, as well as row house developments Vide \u0100da\u017ei<\/em> and M\u0101rupes Sirds near Riga.<\/p>\n\n\n\n

In southern Portugal, the 65-hectare Silves Hills<\/em> development with 154 villas is underway, suitable for both year-round living and seasonal use.<\/p>\n\n\n\n

For more information:<\/p>\n\n\n\n


<\/strong>Kristjan-Thor V\u00e4hi
Email: kristjan@invego.ee
www.invego.lv<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Real estate developer Invego has signed a construction agreement worth \u20ac51.9 million (\u20ac42.9 million without VAT) with Pillar Contractor for the development of the sustainable residential district V\u012btolu Parks in Sarkandaugava, Riga. Construction work of the large-scale development is about to start in nearest weeks. \u201cV\u012btolu Parks, envisioned as a modern, environmentally friendly residential district with 360 […]","protected":false},"author":6,"featured_media":9172,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-9178","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"_links":{"self":[{"href":"https:\/\/invego.ee\/en\/wp-json\/wp\/v2\/posts\/9178","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/invego.ee\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/invego.ee\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/invego.ee\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/invego.ee\/en\/wp-json\/wp\/v2\/comments?post=9178"}],"version-history":[{"count":1,"href":"https:\/\/invego.ee\/en\/wp-json\/wp\/v2\/posts\/9178\/revisions"}],"predecessor-version":[{"id":9179,"href":"https:\/\/invego.ee\/en\/wp-json\/wp\/v2\/posts\/9178\/revisions\/9179"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/invego.ee\/en\/wp-json\/wp\/v2\/media\/9172"}],"wp:attachment":[{"href":"https:\/\/invego.ee\/en\/wp-json\/wp\/v2\/media?parent=9178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/invego.ee\/en\/wp-json\/wp\/v2\/categories?post=9178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/invego.ee\/en\/wp-json\/wp\/v2\/tags?post=9178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}