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12. March 2026

Invego announces major new development in Riga with first phase investment of 38 million Euros 

Estonian real estate developer Invego has today announced Nordale, a large-scale multi-stage new development where 38 million euros will be invested in the first phase to develop 159 new homes and business premises.  

Nordale is one of the most ambitious recent years new residential initiatives spanning across several hectares in Bikernieki forest area in Mežciems, including the historic Riga Film Studio district that will transform into a new urban district.  

Kristjan-Thor Vähi, CEO of Invego, says: “We’ll create the most liveable city by bringing Riga the very best practices and qualities from the most liveable cities in the world. Location offers a unique potential to create an environment where Nordale brings together architecture, nature and community will be a completely new chapter of Latvian residential development.” 

Each phase will have its own architectural identity created by different teams of architects, contributing to a diverse and vibrant community. The project’s concept emphasizes functional, future-ready homes with large balconies and terraces, green inner courtyards, and layouts that maximize natural light.  

Nordale is conceived as a district where the calm of the forest meets contemporary Nordic-inspired architecture. The area is surrounded by pine forests and natural sand dunes, creating a rare balance between urban accessibility and a nature-oriented lifestyle. The concept includes a central promenade with cafés, shops and services, also connecting the area with nearby Akropole Alfa centre. By incorporating ‘no-car’ zones between buildings, the district offers a safe and adaptable urban space. The layout prioritizes pedestrians and cyclists to ensure seamless connectivity throughout the neighborhood. 

Nordale’s location in Bikernieki forest, Mežciems offers convenient access to everyday services and leisure opportunities. Nearby are Akropole Alfa shopping centre, MyFitness sports club, an ice arena, tennis courts and Jugla Lake, as well as a wide selection of schools and kindergartens. The city centre always remains easily reachable. 

The total volume of the first phase of Nordale is 19,500 square meters, comprising 159 apartments and 10% commercial space. The architectural concept has been developed by SIA “Zenico Projekts”. The first stage includes two- to five-room apartments of different sizes with prices starting from 99 900 euros. 

More information at https://invego.lv/nordale/en/ 

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