BTA Baltic Insurance Company (hereinafter BTA) keeps developing and proving itself in various areas; thus, within the framework of the Baltic real estate forum BRELF Awards 2023, BTA and YIT received an award in the nomination “Project of the Year”. The award was presented for the new rental house in Riga, Tērbatas iela 72.

The goal of the BRELF Awards 2023 is to celebrate real estate projects, developers, investors and initiatives that have had the most valuable impact on the real estate market in Latvia during the last year. BTA is proud that this particular project has received the award because this rental house is unique in its own way. It is built in the very centre of the capital but not separated from nature as the courtyard of the apartment building is decorated with a hundred-year-old oak tree and an extensive green area. The residents of the new apartment house will definitely appreciate the children’s playground, the spacious bicycle storage and electric car charging stations. The project was implemented by the real estate developers YIT LATVIJA and BTA, and Lumi Capital was chosen as the manager.

Wolfgang Stockmeyer, the Chairman of the BTA Management Board, sees new investment opportunities: “Although BTA operates in the financial sector, it is still important to develop and invest resources in other sustainable areas as well. We see how the need for rental apartments is increasing, and we believe in the growth of the rental segment, we try to provide high-quality apartments. We care that residents in Latvia have comfortable, affordable and sustainable housing options.” Apart from the building at Tērbatas iela 72, BTA owns three more apartment buildings in the centre of Riga. We acquired them in 2020. The demand for rental apartments in new buildings is high. In fact, all apartments are always rented out.

Currently, the demand for modern apartments that meet contemporary requirements in the centres of the Baltic capitals is high. The greatest interest is shown by the younger generation of residents, who will appreciate professionally managed housing with clear rental terms. Housing needs to be developed in the vicinity of the necessary facilities – shops, entertainment and recreation areas, well-developed infrastructure. The main task of developing new projects is to offer high-quality and energy-efficient rental apartments to the market. The new generation of residents is also much more educated in matters of natural sustainability. When choosing their next rental home, customers pay special attention to the energy-efficiency aspects of the building. Also, the priorities set by VIG and BTA strategy are to promote lasting values and the change of residents’ habits.


About BTA
BTA Baltic Insurance Company is one of the leading insurance companies in the Baltics, offering the broadest range of non-life insurance services in Latvia, Lithuania and Estonia. BTA employs more than 1,000 employees in the Baltics. The sole shareholder of BTA is Vienna Insurance Group AG (VIG), the leading insurance group both in Austria and in the entire Central and Eastern European (CEE) region. Around 50 insurance companies in 30 countries form a Group with a long-standing tradition, strong brands and close customer relations. The more than 25,000 employees in the VIG take care of the day-to-day needs of more than 22 million customers. VIG shares have been listed on the Vienna Stock Exchange since 1994. The VIG Group has an A+ rating with stable outlook by the internationally recognised rating agency Standard & Poor's. VIG cooperates closely with the Erste Group, the largest retail bank in Central and Eastern Europe.

Additional information:
Elīna Zvejniece
Marketing and Public Relations Department Director
BTA Baltic Insurance Company AAS
e-mail elina.zvejniece@bta.lv
mobile: +371 29374827

About YIT
“YIT” is the largest construction company in Sweden and one of the key city environment developers in Northern Europe. We are creating sustainable city environment: functional housing, public and commercial buildings that comply with progressive requirements, infrastructure intended for a more balanced public mobility, as well as renewable energy solutions aimed at climate improvement. Altogether, there are about 5000 professionals employed in the company in nine states: in Finland, Sweden, Norway, Estonia, Latvia, Lithuania, Czech Republic, Slovakia and Poland. Company’s turnover in 2022 reached 2.4 billion euros. Shares of YIT Corporation are listed on Nasdaq Helsinki Stock Exchange.