Incity Capital, proudly announces its latest endeavor as the sole buyer of a greenfield development project. Located on a quiet street with excellent infrastructure, this plot presents an exciting opportunity for us to develop 33 modern and sustainable 2-3 room apartments. With a strong focus on environmental responsibility, our upcoming design project will showcase contemporary aesthetics, energy efficiency, and optimal comfort. We are thrilled to embark on this new development journey and create a vibrant community that reflects our commitment to excellence and sustainability.
In 2022 INCITIY CAPITAL together with partners completed the purchase of the non-performing ex-sanatoria building «Liesma». The project objective is the complete redevelopment of old stock into fully 112 finished apartments and lofts with modern, sustainable and well-thought-out infrastructure offering affordable 1-3 room apartments. The excellent location will be enhanced with one of a kind common terrace located on the upper floor.
Reconstruction of 90 apartments in Riga historical center, 62 apartments had been sold in shell and core condition, while 28 with a complete refurbishment. The case was successfully developed involving brand new real estate crowdfunding and “group buying” tools ensuring end buyers 20-25% ROI. AS Rietumu Banka as the senior loan provider in the amount of 7.5 mln EUR was successfully repaid in full.
INCITY CAPITAL was engaged in the greenfield development of a residential building in Riga, Skolas 17. The building with a total area of 3979 will comprise 34 underground parking, 34 apartments with full internal finishing and 2 street retail commercial premises. INCITY CAPITAL’s main objective was the turnaround of an old design to meet modern market demandable areas for project higher capitalization, and exiting in this stage.
Small-sized ergonomic apartments are fully equipped with necessary appliances. These kinds of housing units are usually rented by students, young professionals, or small families. High rental demand is propelled by small maintenance fees, a ready-to-use concept, and a low supply of similar apartments in the area.
