A52 is investing almost a million euros in the multi-apartment project.

By investing 950,000 euros, the company “Amber Capital Holding” implemented the project of an apartment building “A52”, in Artilērijas Street, Riga. This is the first project developed by the company in the real estate segment. “A52” is a fully renovated, medium-high segment apartment building. The development of the project lasted for one year and during that time the restoration and improvement of the existing building was completely carried out. The newly opened five-story building has 19 one- to four-room apartments with a living area of ​​21.7 square meters to 77.2 square meters. The new apartments are offered both partially and fully furnished. In the courtyard of the building there is a children’s playground, storage rooms, as well as a parking lot. “Currently, more than a third of the apartments in “A52″ have been reserved, which indicates both the high interest of the population in this type of projects and their future potential. We expect that 80% of the apartments in the building will be sold by the end of this year,” commented Artūrs Boš, member of the board of Amber Capital Holding. Apartment prices in the new project start from 1,450 euros per square meter. Bosch states that in parallel the company is developing two more similar projects in the real estate segment. In general, it is planned to develop 3 such apartment buildings in Riga and beyond in the next three years. At the same time, he points out that construction costs are high and purchasing power does not show a rapid rise.

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