Blog

Devon operations overview / August

In August, MJL Enterprises maintained steady performance across its Devon projects, with notable milestones in both construction and design.

Marketing activities were successfully launched for Meira Garden, generating high early interest, while Tērbatas Loft advanced in design planning. Construction progress was visible at Amber Park and Barona 92, where key interior and preparatory works moved forward. Meanwhile, Duntes Park entered a critical stage in its design process with approvals from the Riga Construction Board.

Overall, August reflected consistent advancement across the portfolio, balancing active construction, design development, and early-stage marketing efforts.

MJL Group incentives

• Amber Park - The key construction works have been completed, and we have obtained the necessary approvals to proceed with commissioning the project in late September / early October.
• Jelgava, Ganību Street 54 - In August, the construction of the second residential building advanced significantly, with the first block’s four floors successfully erected in just four days, showcasing both efficiency and strong project execution.

Funding and platform highlights

• In August, funding volume at Devon reached €540,548, bringing the total volume to €3,761,803.
• Ninety-two (92) new active lenders have joined the platform, increasing the total number of active lenders to 541.
• The average interest rate has remained high at an impressive 16.35%.
• Interest earned by lenders in August was €65,196, totalling €269,320.
• The average funding amount fluctuated to €6,900 per lender.

Devon Project Statuses

In August, MJL Enterprises continued progress on existing projects.

Meira Garden

• We launched the first marketing campaign for Meira Garden, generating strong interest with more than 25 early inquiries received.
• Early reservation pricing has been developed, and the official pre-sales campaign is scheduled for launch in September.
• In August, the interior design concept was developed; visualisations are currently in progress and will be completed in September.

Tērbatas Loft

• In August, we advanced the development of the interior design concept; visualisations are currently in progress and scheduled for completion in September.
• Work with the architects is ongoing to structure the project plan into clear phases and to accelerate the overall execution.

Amber Park

• The façade works are nearing completion.
• Interior progress continues, with wall painting finalised in several apartments and flooring installation now underway.
• Landscaping and territory improvement works have also been carried out.

Duntes Park

• Progress continues on the design phase of the project in collaboration with the architectural firm Arhiteze (https://arhiteze.lv). The team has presented initial concepts for the technical solutions, as well as a preliminary visual identity for the development.
• Work is actively underway to refine and coordinate the detailed design elements.
• The Riga Construction Board has approved the conceptual design.

Barona 92, Riga

• Windows have been ordered, with colours carefully matched to the façade and regulatory requirements, ensuring both aesthetic alignment and compliance.
• Radiators have been restored, improving efficiency while preserving the quality of existing systems.
• Demolition works were carried out in August, completing an important preparatory stage for the subsequent phases of construction.
• The electrical plan has been finalised, providing a clear framework for upcoming installation works.