Riga, March 10 (LETA) - Housing developer Bonava Latvija will invest more than EUR 17 million in Sampetera Kvartals project in Pardaugava, Riga, representatives of the developer informed LETA.

The project with four residential buildings and 177 apartments is planned to be implemented in three phases. The builders will start work on the first house in April, but the construction of the entire project is planned to be completed by the end of 2028.

The first phase will consist of a six-storeyed building with 48 two- to four-bedroom apartments ranging from 38 to 80 square meters. The construction of the building is planned to be completed by the end of 2026.

The project will include the installation of solar panels on the roofs of the buildings, as well as the provision of electric car charging infrastructure in some of the car parks. At the same time, a communal bicycle storage and a baby stroller room will be available in the basement of the building.

As reported, in 2023 Bonava Latvija had a turnover of EUR 33.058 million, which is 6. percent less than in 2022, while the company's profit fell 2.4 times to EUR 2.126 million.

Bonava Latvija develops, constructs and sells both economic and business segment housing in Riga.

Bonava Latvija's parent company, Bonava, is one of the largest real estate developers in Northern Europe. The company operates in Germany, Sweden, Finland, Estonia, Latvia and Lithuania, with a turnover of EUR 0.7 billion in 2024. Bonava shares are listed on Nasdaq Stockholm.