RIGA, Oct 27 (LETA) - Luminor Bank has granted EUR 600,000 in financing to BG Nams for the construction of a new 12-apartment residential building in the center of Liepaja, LETA learned from the bank.

The project aims to improve the availability of high-quality and energy-efficient housing in one of the most active real estate markets outside Riga.

The new apartment building will be located in a quiet yet central neighborhood. The three-storey building will feature 12 apartments ranging from 61 to 84 square meters in size.

Each apartment will include a balcony and a dedicated parking space in a secured courtyard. The apartments will be delivered fully finished, with the building equipped with a central heating system connected to the city’s district heating network and underfloor heating.

The bank noted that housing market activity in Liepaja has remained stable in recent years, with demand for new homes consistently exceeding supply. In 2024, a total of 900 apartment transactions were registered in the city, while in the first five months of 2025 alone, 458 transactions have already been recorded. The strongest demand is for two- and three-room apartments, particularly in newly built energy-efficient projects.

According to Firmas.lv, BG Nams last year generated EUR 755,870 in turnover and earned EUR 112,450 in profit. The company was registered in 2006 and has a share capital of EUR 576,263. The company belongs to Gints Berzins.

Luminor Bank has a branch in Latvia, which is the fourth largest bank in Latvia by assets. The bank is controlled by US investment company Blackstone.

Luminor Bank's profit in the Baltics last year was EUR 202.2 million, an increase of 3.9 percent year-on-year.