Invego Tornakalna SIA, a member of the Invego group and 100% controlled by Invego Latvia OÜ, is investing €45.6 million (€37.7 million excluding VAT) to develop a new residential quarter, Torņakalna Terases, in the Vienības district of Riga.
In the Latvian capital, Riga, three buildings with a total of 226 apartments will be constructed on the plots at Jelgava 9 and Jelgava 17. The first phase of construction for Torņakalna Terases will begin in the first quarter of 2027, with the first 117 homes set for completion by the end of 2028. The architectural design of Torņakalna Terases is based on terraced housing, where stepped and spacious balconies bring more daylight and greenery into the buildings. The placement of the buildings follows the principle of preserving as much existing landscaping as possible, creating a spacious green courtyard and a nature-friendly living environment.
Invego Latvia OÜ, part of the Invego group, holds a 100% stake in Invego Latvia SIA, which in turn owns 100% of the companies Invego Tornakalna Holding 1 SIA and Invego Tornakalna Holding 2 SIA, each of which holds a 50% stake in Invego Tornakalna SIA.
Invego group is a new-generation real estate developer operating in three countries, specializing in creating large-scale residential areas and business quarters with an integrated concept that creates future urban space. With more than 10 years of operational history, the Invego group includes over 60 companies in Estonia, Latvia, and Portugal, with 30 different development projects currently in progress. Invego group has developed more than 150,000 m² residential (1500 homes) and 50,000 m2 commercial spaces and has an additional 450,000 m² of residential and commercial real estate in development.