A 180-apartment residential development opportunity on the riverfront of Riga.
The project has been legally approved and is fully prepared for the construction, offering a secure and phased capital investment opportunity.
LOCATION
Riga, Upju iela 12
ASSET TYPE
Residential
STATUS
Ready for construction
01 – OVERVIEW
Key Project Metrics
APARTMENTS
180
Across four buildings developed in phases
PHASES
4
Reduced capital deployment risk
SITE AREA
1.97 ha
Consolidated development site
UTILITIES
100%
Utilities connected to site boundary
M² GBA
14,200
Above-ground building area
02 – WHY CHOOSE THIS ASSET?
Access to one of the Baltic region’s strongest housing demand markets
Fewer than 2,100 new apartments are delivered in Riga each year, while estimated annual demand exceeds 3,500 units. Upju Rezidence is strategically positioned to meet this market imbalance.
01
Fully approved project
The project has secured detailed planning approval and building permits. Zoning, development density, and permitted land use have already been approved and legally established.
02
Utilities connected to the site boundary
Water, sewage, district heating, electricity (1.2 MW), and fiber-optic connectivity have already been installed. No additional off-site infrastructure investments are required.
03
Phased project development
The four-phase development structure enables gradual capital deployment, testing of pre-sales performance, and a risk-adjusted project exit strategy.
04
Investment-oriented apartment mix
180 apartments (40–95 m²) designed for Riga’s growing professional segment, appealing to both end-users and investment buyers.
05
Premium waterfront location
Located just steps from the Daugava promenade, with Old Town reachable within 15 minutes and seamless access to urban infrastructure.
03 – LOCATION
Prestigious riverside location
Situated on the left bank of the Daugava, the site lies within one of Riga’s fastest-growing residential development corridors, offering established infrastructure, mature landscaping, and direct access to the city centre.
Riga Old Town
15 min
International airport “Riga”
30 min
Central station
12 min
Riga Technical University
18 min
Mezaparks
25 min
Akropole shopping mall
10 min
Riga Plaza shopping mall
15 min
Tram and bus stop
3 min walking
04 – MARKET POTENTIAL
Located within a well-established and densely populated area.
42 000
Local population
3 500+
Annual demand for new apartments
05 – MASTERPLAN
Four buildings, one unified urban quarter
Designed by a leading Baltic architecture studio, the development features a carefully planned street grid, generous shared courtyards, and an active riverfront promenade lined with ground-floor commercial spaces, complemented by a direct premium cycling connection Kekava-Riga.
PHASE 1
48
apartments
Building permit secured
Construction start:
3rd Quarter of 2026
PHASE 2
44
apartments
Building permit secured
Construction start:
1st Quarter of 2027
PHASE 3
46
apartments
Building permit secured
Construction start:
3rd Quarter of 2027
PHASE 4
42
apartments
Building permit secured
Construction start:
1st Quarter of 2028
06 – PROJECT DETAILS
Key Metrics & Specifications
Address
Upju street 12, Riga
Cadastral Number
0100 119 0552
Site Area
1.9771 ha
Planned Buildings
4 residential buildings
Number of Apartments
180 (2–4 rooms)
Residential Area
10 375 m² (3 floors)
Above-Ground Building Area
12 470 m²
Parking Spaces
187 (96 underground + 118 storage rooms)
Development phases
4
Projected Sales Price
2500–2800 EUR/m²
Property Acquisition Price
1 400 000 EUR