The second building of YIT's sustainable project "Mārpagalmi" in Āgenskalns is commissioned.

This week, the real estate developer YIT Mārpagalmi 2 in cooperation with the construction company YIT LATVIJA SIA (YIT) commissioned the second building of the sustainable comfort class project "Mārpagalmi" in Āgenskalns, located at 15 Zemaišu Street. The project was carried out with the co-financing from BluOr. The modern apartment project is distinguished by its high energy efficiency, which corresponds to an almost zero-consumption building. This is achieved by using modern energy efficiency solutions, including a heat recovery system, while the building is equipped with a solar panel system to reduce the consumption of communal electricity.

The apartments offered in the second building of "Mārpagalmi" are fully finished, with prices ranging from EUR 2,465 to EUR 3,013 per sqm. There are currently available 88 apartments of various sizes, ranging from studio apartments (30.2 m2) to spacious and comfortable 4-room apartments with an area of 87m2, excluding the balcony. Each apartment has a balcony, while ground floor residents can choose an apartment with a terrace. Some buyers also have the option to purchase a courtyard or underground parking space, as well as a storage room.

Andris Božē, Member of the Board of YIT LATVIJA, continues: ""Mārpagalmi" project is characterised by its excellent location in the green area of Āgenskalns, next to Māras pond, which is particularly popular among buyers of new projects, including young professionals and young families, who value sustainable housing solutions, the greenery and safety of the car-free courtyard, and the excellent energy efficiency of the building. For example, we are increasingly seeing that people appreciate the possibility of living in a house with solar panels, which is an added value in the long term. Already almost 40% of the apartments are reserved and interest from potential buyers is growing. We are now seeing that with the reduction of the Euribor rate and bank add-on rates, buyer interest is increasing rapidly, especially in the segment of 3 and 4 room apartments."

Interest in energy-efficient housing is growing

YIT has noticed that the real estate market is showing increasing interest in various energy efficiency solutions for apartment buildings, including solar panel solutions. In response to real estate trends and buyer demand, each building in the "Mārpagalmi" project is equipped with solar panels, as well as a recuperation system for each apartment, which ensures both high energy efficiency and excellent indoor air exchange without losing existing heat. For example, in the first building of "Mārpagalmi" last year, solar panels generated electricity for the building's own consumption.

"Nowadays, potential buyers are also increasingly interested in the availability of such solutions and I expect that in the future the market will be dictated by the energy efficiency of projects, which guarantees lower utility bills and at the same time promotes buyer activity in the segment of new real estate," A. Božē predicts.

He points out that in addition to the installation of solar panels, which are an additional source of electricity production, other solutions are being implemented to save energy, such as LED sensor-based lighting installed in the common areas of the building, more innovative faucets to reduce water consumption, frequency regulation of electrical equipment, and solutions for heating regulation and individual metering for the smart use of heat energy in the apartment. In addition, the energy efficiency of the building is also determined by the construction materials and technical solutions used, the thermal insulation of external walls, windows and doors.

The project is being executed by YIT Mārpagalmi 2 Ltd in collaboration with the construction company YIT LATVIJA Ltd. YIT Mārpagalmi 2 is the first joint venture established by YIT in cooperation with the Czech investment group RSJ Investments. The cooperation with YIT Investment Group allows to streamline our operations by jointly implementing other projects in the future. The second building of the Mārpagalmi project has been realised with co-financing from BluOr Bank.

About YIT
YIT is a leading construction and development company. Building on over 110 years of experience, we develop and build sustainable living environments: functional homes, future-proof public and commercial buildings, and infrastructure to support the green transition. We employ approximately 4,300 professionals in eight countries. Our revenue in 2023 was EUR 2.2 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

About YIT Marpagalmi 2
YIT Marpagalmi 2 is a joint venture between YIT and the Czech investment fund RSJ Investments. The cooperation model facilitates YIT's ability to develop increasingly capital-efficient ways to pursue its self-financed housing development business. RSJ Investments is a long-standing and important partner to the YIT Group and has a track record of cooperation in similar partnership projects.