RIGA, April 10 (LETA) - In the first week after the opening of a new apartment building renovation program of Development Finance Institution Altum, municipal housing manager Rigas Namu Parvalde (RNP) has submitted applications for 52 apartment buildings in different Riga neighborhoods to receive European Union co-financing for complete renovation, RNP representative Inita Kabanova informed LETA.

In 2024, 55 apartment buildings in Riga applied for renovation. This is more than in all 12 years since EU support for renovation of apartment buildings in Latvia has been available, says RNP board member Martins Paurs.

Under the new program, special support will be provided for blocks of buildings - at least three neighboring houses that apply for renovation together. Four such blocks are seeking EU co-financing this time: five apartment buildings in Purvciems, and three buildings in Teika, Marupe and Ziepniekkalns neighborhoods each.

Of the buildings that have applied for renovation, 15 are large buildings typical for Riga, with more than 70 apartments each.

As reported, the total funding for improving energy efficiency of apartment buildings under the Altum program is EUR 173 million, meant for renovation of more than 400 apartment buildings by the end of 2029.

RNP is 100 percent owned by Riga City Council. It manages more than 3,800 residential houses and buildings with a total area of more than 7.5 million square meters. In 2023, the company had a turnover of EUR 74.22 million and a profit of EUR 5.05 million.