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The obtained funds will be used to finance real estate development projects in the planning stage. Currently, the company’s portfolio includes 20 new development projects with a total area of 140,000 m2. The timing of the public offering of shares may be affected by developments in the global economy and their reflection in the stock markets.
In 2020, the sales revenue of the Hepsor Group company in Latvia reached 4.9 million euros, accounting for almost 13% of the Group’s total sales revenue. Last year, compared to 2019, the Hepsor Group’s total turnover increased by 98%, reaching 38.8 million euros. The company’s net profit, on the other hand, increased by 115% during the period, reaching 2.9 million euros.
In 2020, Hepsor entered the top 10 real estate developers of the real estate consulting company Colliers. In Estonia, the company has consistently been among the four largest housing developers for the last four years (2017-2020). Last year, it took second place in the market with 277 new apartments sold. Henry Laks, Member of the Board of Hepsor (Henri Laks) indicates that the firm’s strong position will help it to develop further. “In the context of the local market, our development portfolio is very strong, so we are confident that we will continue to grow rapidly. Even for those who have not previously invested in real estate, the acquisition of Hepsor shares is a good opportunity to participate in the rapid development of Estonian and Latvian real estate. that the company is growth – oriented, there are no plans to pay dividends in the coming years, “says Laks.
One of the largest and best-known development projects of the company in Latvia is the multifunctional class A business complex “Krasta City”, which is planned to be implemented in the next ten years. In Tallinn, on the other hand, it is the Factory Quarter (Manufactory North), which will consist of two new apartment buildings with 154 apartments and a reconstructed Baltic Manufactory factory building with 400 apartments and 6000 m2 commercial premises for rent. Hepsor is also developing the first “green offices” in the Baltics, which implement a number of innovative and environmentally friendly engineering solutions.
It has been previously reported that the construction of a new business complex in Riga, which will consist of two phases and will have a total area of more than 11,000 m, has now begun.2. Also, at the end of this summer, the construction of the residential quarter “Kuldīgas parks” began, where 116 two-, three- and four-room apartments will be available.
The founders and owners of the Hepsor Group are Andress Parloja (Andres Pärloja) (33,25%), Kristjans Mitts (Kristjan Mitt) (33,25%), Henry Laks (Henri Laks) (16.6%) and financial investor Lauri Meidl (Lauri Meidla) (16,9%).
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