Blog
Low-Rent Housing Projects Underway in Six Latvian Cities (video)
Today in Jelgava, a time capsule with a message for future generations was sealed into the wall of a low-rent apartment building.
This type of project, currently being implemented in six cities across Latvia, is a first of its kind. Unlike traditional construction methods, the building is being constructed using ready-made modular structures produced in Latvia, which allows the construction process to proceed much more efficiently.
The project is being jointly implemented by the European Commission, ALTUM, and MJL Enterprises.
Watch the video about the event
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Operations overview / August
August was an important month for Devon, with progress across both the platform’s regulatory foundation and its underlying development portfolio. A key milestone was the publication of the KPMG Germany legal opinion, providing further clarity on Devon’s loan structure and its treatment under German regulatory requirements.
Executive Summary - KPMG Germany Legal Opinion
KPMG Germany has conducted a legal assessment of Devon’s loan structure and contractual framework under the applicable German regulatory requirements, with particular focus on whether Devon could be classified as conducting deposit-taking business. Below is a summary of KPMG’s general findings and regulatory conclusions.