Real estate developer Invego has signed an €11 million construction contract (€9.1 million excluding VAT) with the construction company SIA “EKOTEH BŪVE” to carry out the first construction phase of the large scale Mārupes Sirds residential development near Riga. All 65 new homes of the first phase will be completed next year. The strategic financial partner of the development is EfTEN Special Opportunities Fund.
“Mārupes Sirds is an ambitious residential development, and signing this agreement marks a major milestone for the project. Mārupe is one of the most desirable living areas in the region, and we are committed to creating a high‑quality, sustainable neighborhood that will serve families for decades to come. Partnering with SIA “EKOTEH BŪVE” ensures that the project will be delivered with the level of craftsmanship and reliability that future residents expect. The concept we have is to set people first and everything we do is with this in mind” says CEO of Invego Kristjan-Thor Vähi.
The construction contract covers a total of 50 apartments across two residential buildings, 15 row‑houses, recreational area and a new internal quarter road. Construction is scheduled to start in the third quarter of 2026, with the first stage completed by the end of 2027.
“We are pleased with Invego’s trust in the implementation of this ambitious project. Mārupes Sirds is a modern residential district with high quality and sustainability standards that fully align with our approach to construction. The “EKOTEH BŪVE” team will ensure that the project is delivered within the planned timeline, maintaining high construction quality and paying special attention to energy efficiency, safety and the comfort of future residents. We are confident that together we will create a living environment that will be a source of pride both for its residents and for the entire Mārupe community,” says Oskars Petrovs, Chairman of the Board of SIA “EKOTEH BŪVE”.
Mārupes Sirds will be an A‑class energy‑efficient residential district designed to offer modern homes surrounded by greenery and everyday comfort. Created by architect Uldis Bērziņš and the TECTUM team, the project combines warm contemporary architecture with a thoughtfully planned living environment with a lot of light and big balconies, spacious terraces, private gardens and inviting outdoor spaces. As the development progresses, the neighborhood will grow into a fully integrated district with green areas, sports and leisure zones, playgrounds, walking paths and essential community infrastructure. Once completed, Mārupes Sirds will include more than 400 homes of various types, becoming one of the most notable new residential areas near Riga.
The project is being developed by Invego Marupe Sirds SIA, which is 100% owned by Invego Marupe Sirds Holding SIA. Invego Latvia SIA (a 100% subsidiary of Invego Latvia OÜ) owns 50% of this holding company, while the remaining 50% is owned by the second investor, EfTEN Special Opportunities Fund.
About SIA EKOTEH BŪVE
SIA “EKOTEH BŪVE” is a Latvian construction company specializing in the development of residential, commercial and public buildings, providing full‑cycle general construction services. The company delivers projects of various scale and complexity across Latvia, with a strong focus on meeting deadlines, ensuring high construction quality and implementing sustainable solutions. The mission of SIA “EKOTEH BŪVE” is to create a safe, high‑quality and long‑lasting environment for its clients and for society as a whole.
About Invego
Invego is a next-generation real estate developer operating in three countries, specializing in large-scale residential and commercial districts built with a forward-looking, integrated urban concept. With over 10 years of experience, the Invego Group encompasses more than 60 companies across Estonia, Latvia, and Portugal, and is currently managing nearly 30 different development projects. To date, Invego has developed over 150,000 m² of space, including 1,500 homes and more than 50,000 m² of commercial premises. An additional 500,000 m² of residential and commercial real estate is currently under development.