Invego and Reterra Held a Topping Out Ceremony in Riga for a 14 Million Euro Premium Development

In Riga, Estonian developers Invego and Reterra held a topping-out ceremony for their joint premium-class apartment project Skanstes Rezidences. The residential quarter, costing a total of 14 million euros, will be completed by early summer.

According to Invego CEO Kristjan-Thor Vähi, the Skanste district has become one of Riga's most desirable neighborhoods in recent years. "The concept of Skanstes Rezidences fits perfectly with the rapid development of the district and stands out in the fast-growing Riga residential market not only for its good location, but also for its well-thought-out planning and modern Nordic architecture. Reaching the topping-out ceremony confirms that construction is progressing well on schedule and we have made another major step toward completing the homes," Vähi said.

Reterra CEO Reigo Randmets emphasized the project's architectural and technological ambition. "Our vision is to raise the standard of Riga's residential development, and so every structural or design decision has been made with quality in mind. We are very satisfied with the professionalism and attention to detail of our builder Mapri Būve, which is bringing our vision to life exactly as we have planned it," said Randmets.

Didzis Dumbris, project manager at Mapri Būve, the subsidiary of Estonian builders Mapri Ehitus that is constructing the building, confirmed that the client's quality expectations for the project are very high and the solution itself is detail-rich, but by now both buildings have reached their full height and most of the installation of technical systems has been completed.

Māris Sprindžuks, deputy chairman of Riga City Council's urban development department, noted at the topping-out ceremony that Riga increasingly needs modern and quality residential spaces. "I believe that the city is ready for real development progress this year. Riga's urban planning department is doing everything it can to make the development process smoother and more efficient. I hope that Skanstes Rezidences will serve the city well," said Sprindžuks.

Designed by architectural bureau Salto Architects, Skanstes Rezidences combines contemporary architecture with long-term energy-efficient solutions. A total of 67 homes with balconies and terraces will be built in two eight-story buildings, meeting the A energy class standard. Apartment prices start from 124,900 euros.