In the “Parka Kvartāls” residential project in Riga, two apartment buildings have been fully completed, providing homes for more than 50 families, and construction of the third stage is actively underway. As part of this stage, two more buildings with 64 new apartments are being built. The project is being developed by real estate developers Invego and Reterra, with construction works carried out by “Mapri Būve”. The project is scheduled for completion by the end of 2025.
“The topping-out ceremony is an important milestone in construction – it confirms that the work is progressing according to plan and that very soon, the next residents will be able to start a new chapter of life in a modern, sustainable home in a green and beautiful environment,” says Kristjan-Thor Vähi, CEO of Invego, adding that for the developers, it is important to create living environments that provide lasting value and serve as an investment for future generations.
“Our goal was to create a place where modern design meets a landscaped green setting, alongside all the advantages of the capital city – a place where people not only live but truly feel at home. Interest in the homes in this project has been high since day one, which only confirms that we have chosen the right location and concept,” says Reigo Randmets, CEO of Reterra.
The “Parka Kvartāls” project is located at the intersection of Dignājas, Tumes, Mazā Stērstu, and Stērstu Streets, and will include three five-storey and one four-storey apartment buildings meeting Class A energy efficiency standards. To ensure more natural light, the apartments feature extra-large windows, and each home has its own balcony. Buyers can choose from three different interior finish styles to match their personal design preferences, and a fully furnished show apartment is available on site for viewing.
To balance the benefits of green surroundings with the advantages of new apartment buildings, a large number of the existing trees on the site have been preserved during development. The courtyard features linden, elm, and a large oak – including trees of local and national significance – and additional landscaping is being created. The entire apartment block complex have paved pedestrian walkways and a playground for families with children.
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 1,300 homes and more than 50,000 m² of commercial premises. An additional 450,000 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.
For further information, please contact:
Henrijs Klaids Skujiņš
