180-Apartment Residential Development Opportunity
1.97 ha | Utilities Installed | Approved Project | 4 Development Phases
LOCATION
Riga, Upju street 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
12,470
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. Ūpju Rezidence is strategically positioned to meet this market imbalance.
01
Development Optimization Potential
The approved project framework provides flexibility to optimize layouts and technical solutions while preserving the established development concept. The four-phase structure supports efficient capital allocation and a risk-adjusted development strategy.
02
Utilities connected to the site boundary
Water supply, sewage, electricity, cable infrastructure and fiber optic connection have already been installed. Connection to the city’s heating networks is planned during the project.
03
Next-Generation Urban Mobility
Located alongside the new Riga–Kekava cycling highway and integrated bicycle street infrastructure, the project is ideally positioned for the growing demographic of residents seeking healthy, car-independent and environmentally conscious urban living.
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
Strong Replacement Demand
The project is located within a residential catchment area of approximately 50,000–60,000 residents. Much of the surrounding housing stock was developed between the 1970s and 1990s, creating significant long-term demand for modern, energy-efficient apartments within the same neighbourhoods.
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
PHASE 2
44
apartments
Building permit secured
PHASE 3
46
apartments
Building permit secured
PHASE 4
42
apartments
Building permit secured
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