Development Project with a Renovated Apartment Building

We offer you the opportunity to participate in one of the most promising development projects in the centre of Riga — a unique combination of an existing income-generating asset and a high-yield development project.

The property is located in a rapidly developing part of the city, on Ģertrūdes Street, next to major development landmarks — “Novira Plaza”, the upcoming Lāčplēša Square, and the “Fabrika” project. This location is already emerging as one of the key growth hubs of central Riga.

The project includes:

a fully renovated residential building with 33 apartments, currently generating stable rental income of EUR 14,000/month + utilities

a 3,177 m² land plot with a prepared development concept

a plan for the construction of new residential buildings with a total of 206 apartments

Upon completion, the project will comprise:

239 apartments

approximately 7,854 m² of net area

This is a project with clear scale, structure, and strong market demand — compact apartments in Riga’s centre with high liquidity in both rental and sales segments.

From an investment perspective, a key advantage:
A Latvian commercial bank is prepared to finance up to 80% of the construction costs.

This allows for efficient use of investor capital, with controlled risk and strong leverage.

Investment terms:

investment amount: EUR 2.5 – 3.0 million

target return: 13.5% – 15% per annum

investment term: ~18 months

The project is already structured:

design and building permit: by October 2026

construction start: December 2026

completion: ~June 2028