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Thursday, 25.04.2024, 22:35
Estonia's Kaamos Kinnisvara to start 1st development project in Latvia
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Kaamos development manager Ivar Vahter said that on the Latvian market, there is foremost demand for new apartments with price levels not exceeding 2,000 euros per square meter. Kaamos' first development, Divi Krasti, is aimed namely at that segment, the company said.
"The apartment building development is located in the area of traditional apartment buildings in the Latgale district in the immediate vicinity of the newly completed Akropole shopping center and initial interest shows that there is definitely demand for new apartments," Vahter added.
At present, Kaamos has three projects in Riga that are in the preparatory phase and the plan is to start the construction activity of the next development next year.
Kaamos Kinnisvara started preparations for entering the Latvian market two years ago and by now, the building permit for the first residential project has been issued. Construction activity is to start in the coming weeks. The company is planning to complete the Divi Krasti project in two years.
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