Civinity extends its operations on the Latvian market and purchases one more company
Civinity is an international group of companies providing housing administration services in the Baltic states. It announced the extension of its operations in Latvia where Civinity bought Labo Namu Aģentūra Ltd. Civinity now owns five real estate managing companies in Latvia and is the largest player on the private housing administration market.
“We are actively expanding our operations in Latvia as we see the great potential of its market. The country has an attractive geographic location and the mentality of its population is understandable to us. ‘Due to the right competitive environment, we see possibilities to provide high-quality commercial and residential buildings administration services as we have considerable experience not only on the local but also the international market,’ says the CEO of Civinity Vitoldas Sapožnikovas.
Acquired Labo Namu Aģentūra Ltd. administers 146 000 square metres of commercial and residential space. Once the acquisition is finalised, Civinity group companies will be overseeing over 2.3 million square metres of property space. Civinity is the largest private group of companies providing building maintenance and administration services in Latvia.
"That is already our fifth company in Latvia. We see positive trends and opportunities for us in the Latvian market and thus plan to keep active development in this country," said Deividas Jacka, Chief Development Officer at Civinity.
According to Vitoldas Sapožnikovas, Civinity continues private companies consolidation through this acquisition. Currently Civinity owns Hausmaster, CS Komercserviss, Jūrmalas Namsaimnieks, HomeMaster as well as recently acquired Labo Namu Aģentūra Ltd.
‘We have been operating on the housing and commercial property administration market for 26 years and started our operations in Latvia in 2014. Our best corporate practices and implemented business processes will allow for process optimisation in the newly acquired company. Companies within our group differ in their structure, technologies used and management solutions, so by optimising operations we aim to invest in the improvement of service quality, strengthening of the customer service centre and eventually become one of the strongest players on the housing administration market in all of the Baltic States,’ states Vitoldas Sapožnikovas.
According to the CEO, establishing operations in Latvia is one of the main strategic goals of the group. Therefore, they will continue to look out for favourable business opportunities in the areas of private, public and commercial buildings administration.
Civinity group currently owns 8 housing administration companies in Lithuania, 5 in Latvia. Overall property space managed by the group exceeds 5 million square metres. In Lithuania the group owns Vilnius based housing administration companies Senamiesčio Ūkis and Ozo Miestas, Kaunas based Būsto Valda, Klaipėda based Debreceno Valda, Viltės Valdos and Klaipėdos Bendrabutis, Palanga based Palangos Butų Ūkis and Kretinga based Kretingos Būstas.