Hepsor E18 SIA, Hepsor AS Group company, signed a 5.25 million euro loan agreement to finance the construction of development project

Company Overview - Hepsor AS is a developer of residential and commercial real estate operating in Estonia, Latvia, and Canada [3] - The company has created a total of 2,003 homes and nearly 44,787 square meters of commercial space over fourteen years [3] - Hepsor is recognized as the first developer in the Baltic states to implement innovative engineering solutions for energy-efficient and environmentally friendly buildings [3] Project Details - Hepsor E18 SIA signed a loan agreement for 5.25 million euros to finance the construction of the Ķiršu Kalna Mājas residential project [1] - The project includes the construction of two apartment buildings with a total of 54 apartments, with a total development cost of 8.5 million euros [2] - Construction and sales have already commenced, with a planned completion date in the first quarter of 2027 [2] - At the time of the loan agreement signing, 41% of the apartments had been reserved or pre-sold [2] Future Developments - Hepsor has completed a total of 404 homes in Latvia, with 98% sold [2] - The company expects to complete more than 500 new homes in the coming years [2] - The company's portfolio includes 25 development projects with a total area of 178,200 square meters [3]