YIT to Develop New Residential Quarter “Smilgas” in Pļavnieki

Construction company and real estate developer SIA YIT LATVIJA (YIT) plans to begin development of a new residential quarter called “Smilgas” in the Pļavnieki neighborhood in 2026. The project предусматриes the construction of four six-storey residential buildings with a total of 228 apartments.

Preparatory works are currently underway so that construction of the first building can begin in spring. At the same time, pre-sales of apartments have already started.

The first building in the “Smilgas” project will include 57 apartments, and it is scheduled to be commissioned in summer 2027.

Apartment prices in the first building will start from EUR 96,600, which corresponds to approximately EUR 2,330 per square meter.

In 2024, YIT Latvija’s turnover reached EUR 35.246 million, which is 2.4 times higher than the year before. The company’s profit increased by 47%, reaching EUR 2.83 million.

YIT Latvija was registered in 1998, and its share capital amounts to EUR 47,429,278. The company is owned by the Finnish firm YIT Housing.

YIT operates in eight countries: Latvia, Lithuania, Estonia, Finland, the Czech Republic, Slovakia, Sweden, and Poland. In 2024, YIT Corporation’s total turnover reached EUR 1.8 billion, and its shares are listed on the Nasdaq Helsinki stock exchange.