On 27 September 2016, a contract was signed at the premises of Valmiera City Council for the construction of a multi-apartment rental building at Ķieģeļu Street 8/Mālu Street 1, Valmiera. The contract was signed by SIA “Valmieras Namsaimnieks”.

Chairman of the Board Valdis Jēgers, Board Members Kaspars Kalniņš and Jānis Zemļickis, and SIA “Monum” Chairman of the Board Māris Ozoliņš.

“This unique project is the first of its kind in Latvia in which a municipal corporation is building a multi-apartment building in which the apartments will be rented out, as opposed to sold. SIA “Valmieras Namsaimnieks” is proud that the council has entrusted it with the implementation of this major project, and we hope that it will get the Valmiera residential fund rental market moving by offering apartments for rent for more accessible prices,” explains SIA “Valmieras Namsaimnieks” Chairman of the Board Valdis Jēgers. Moreover, Valdis Jēgers stressed that the apartment would be available for rental not sale, and that rental rights to them would be available subject to an auction process.