The 14 million euros development “Skanstes Rezidences” has reached its topping‑out milestone, with close to one third of 67 premium residential apartments booked at this early stage. Completion is planned for the first half of 2026.
“Riga needs more and more modern, high‑quality homes, and I believe the city is ready for a real boost this year. The Riga City Development Department will do its part to make the development process smoother and more efficient. And may “Skanstes Rezidences” serve the city well!” said Deputy Chairman of Riga City Council for Urban Development and Riga Metropolis Māris Sprindžuks.
Developed by Invego and Reterra, the project continues to advance steadily in the heart of Skanste. “Skanste is now one of Riga’s most desirable neighborhoods, and this project is perfectly aligned with the district’s rapid development. With the topping‑out now reached, we are one step closer to delivering homes that combine high‑quality living with excellent long‑term value. For buyers, “Skanstes Rezidences” means both a modern Nordic style and quality home, and a secure investment in one of the city’s most promising areas,” said Kristjan Thor Vähi, CEO of Invego.
Reigo Randmets, CEO of Reterra, emphasized the project’s architectural and technical ambition. “Our vision is to raise the standard of residential living in Riga. Every structural and design decision has been made with long‑term quality in mind, and we are pleased to see this vision being executed with such precision by “Mapri Būve”. Their professionalism and attention to detail play a key role in ensuring that the architectural concept and technical solutions are brought to life exactly as intended,” he explained.
According to Didzis Dumbris, Project Manager at “Mapri Būve” the project has very high-quality requirements, and the client is paying close attention to every detail – it is precisely in these details that the project’s excellence lies. “The façades feature black, ribbed concrete panels with pigment integrated into the concrete during production. This is a relatively uncommon solution in Latvia, providing durability, resistance and eliminating the need for repainting over time,” Didzis Dumbris brought an example of new high standards and adds that with both buildings already reached their highest structural point most of the installation of engineering systems is as well complete.
Designed by “Salto Architects”, the project combines contemporary architecture with long‑term energy‑efficient solutions. The “Skanstes Rezidences”, located on Grostonas Street 9, will offer 67 modern apartments, built to A-class energy efficiency standards, including loft‑style layouts, private terraces on the first floor and rooftop terraces accessible to all residents. Prices start at €124,900. More information about the project is available at https://skanstes.lv/en/.
About Invego
Invego is a next-generation real estate developer operating in three countries, specializing in large-scale residential and commercial districts built with a forward-looking, integrated urban concept. With over 10 years of experience, the Invego Group encompasses more than 60 companies across Estonia, Latvia, and Portugal, and is currently managing nearly 30 different development projects. To date, Invego has developed over 150,000 m² of space, including 1,500 homes and more than 50,000 m² of commercial premises. An additional 500,000 m² of residential and commercial real estate is currently under development.
About Reterra
Reterra is a fast-growing, new-generation real estate developer with a growing presence in Estonia and Latvia, specializing in high-quality residential and commercial projects in Tallinn, Tartu, and Riga. The company has delivered nearly 1,000 new homes and manages 70,000 m² of leased commercial premises for leading clients including Telia, Pipedrive, Selver, Coop, and Leonhard Weiss. With around 500,000 m² of residential and commercial space currently in the planning and preparation stages, Reterra’s portfolio reflects a steady growth strategy and a long-term commitment to quality development.
