Having obtained residential and commercial approval for development SIA IncomNetwork Riga (INR), is now seeking to sell this land in its entirety.

SIA IncomNetwork Riga (INR), a Latvian registered Company of good standing, owns 294.2ha (726 acres) of land 86km south west of Riga. The land was purchased over a two year period between 2005 and 2007 and consists of 7 interconnecting parcels making up the whole and is known as the Timberland Hills Golf Resort.

The project was started with the ambition to be set in an exceptional natural environment, offering a world class golf and sports Hotel Spa resort together with a superb real estate development and the potential for linking together the social, environmental and economic considerations of sports players, residential family communities, investors and tourists.

The aim is to enrich the lives of people such as golfers and sports players, residents, tourists and the larger community by creating a sustainable natural resort environment that is recognised as a valuable asset and leaves a purposeful legacy for the future. 

The overall concept is to capitalise on the integration of golf and sports, real estate and tourism to create and develop an International high profile tourist and sports product in Latvia.  

Golf operations, golf tourism and real estate generate over EUR 21 billion in direct revenues and over EUR 50 billion in indirect revenues across EMA (Europe Middle East Africa) employing over 500,000 people. It is well established on a global basis that the integration of golf and sports, real estate and tourism are mutually supportive and produce great synergies:

Golf – is the leading sports product for Timberland Hills. Golf is a major industry in its own right and attracts tourists, business, and high profile branding. People recognise and talk about major golfing venues around the world – they are in the media, they create a quality and prestigious image and become a destination to visit.

Residential – the interlock between golf and real estate is very well established. Golf and sports in a superb natural environment attract communities of people looking at properties as their primary/vacation homes or investment properties. In turn these communities participate in the golf, sport, Spa and heath faculties provided by the Resort.

The benefits of the combination of the 3 products (sports, real estate and tourism) in one Resort spill over into the surrounding areas creating more products and opportunities that benefit the wider communities and stakeholders.

Timberland Hills consists of  294.2 ha (726 acres) of land in Annenieki Parish, Dobele, Latvia, 86 km from Riga and 40 km from Jelgava, Latvia’s third largest city. The geographical location and the natural environment provide an excellent tract of land for developing the Timberland Hills Golf Resort, in accordance with the Master Plan already designed and approved.

The Latvian State Environment Board requested a full Environmental Impact Assessment which was carried out by the international environmental consulting company Estonian, Latvian & Lithuanian Environment (ELLE). This took fifteen months to complete and led to the land being approved for residential and commercial development on 30th January 2009.

The full approval allows for the development of:

596 housing plots with an average size of 2,000 mІ, 155 of which will be front-line golf and 441 golf villas built using local resources, energy efficient, low wastage to create a high quality of life environment that people enjoy and appreciate.

Planning for separate block of Hotel apartments – the final number will depend on the design and layout. This may be extended to mixed usage (retail/commercial) subject to additional planning consent. A swimming pool, tennis courts, cross-country winter skiing, health and exercise trails, nature walks and cycling.

The local planners and the Municipality’s Chief Architect are extremely supportive of such a development being carried out in their region, having unanimously voted to approve the Timberland project, as a year-round resort, in its entirety.

Driving distance from centre of Riga: 86km.

Distances 

Annenieki 8km

Dobele 12km

Jaunpils 16km

Tukums 42km

Jurmala 56km

Viesturi Golf course 67km

Riga International Airport 80km

• 33% deposit on purchase price
• One year 'payment holiday' following completion of the purchase
• 48 equal monthly payments commencing 12 months after completion of the purchase
• Interest rate 3% simple per annum

1. Purchase price 8,500,000 Euros
2. Deposit 2,800,000 Euros
3. 48 Monthly payments of 126,165 Euros
4. Total payable is 8,855,920 Euros