New apartment block in Saliena, Turaidas Street is being developed with EUR 3.1 million financing from Signet Bank

A residential quarter with a park – the low-rise residential complex ParkLife Apartments – is being actively developed in Saliena, Turaida Street, and Latvia’s leading investment bank Signet Bank has provided EUR 3.1 million in financing for further development of the complex.

Construction of the first building started at the end of 2023. A third building is currently under construction and is expected to be completed by the end of 2025. The total investment in the complex so far is around EUR 8 million and it will be completed by the end of 2027. Along with the first two buildings, the creation of the park was also completed. The residential complex, with a 30 000 m² (3 hectare) park, will comprise nine apartment buildings, with 189 apartments, each with 21 apartments ranging from 49 to 105 m².

The project is distinguished by its innovative approach to urban planning, which prioritizes the well-being of residents, proximity to nature and a safe living environment. The ParkLife Apartments project demonstrates the trend away from car- oriented towards people- and community- oriented living spaces. The residents of the apartments will not only be offered housing, but a lifestyle based on access to nature, peace and a sense of community.

More and more people value the quality of life, where the environment, safety and public space play a significant role. It is precisely such values, in our opinion, that define the direction of future real estate development. The implementation of such a vision also requires appropriate financing – one that is based on long-term development goals, not short-term returns. Signet Bank finances such real estate development projects because we believe that they create the future living environment in Latvia.

Ineta Done, member of the board of Signet Bank

We designed the ParkLife Apartments residential complex with special care for the well-being and safety of residents. The park in the heart of the block provides not only a green, aesthetic environment and various opportunities for recreation, but also a safe courtyard free from motorized vehicles. It is an ideal solution for families with children and everyone who appreciates peace, clean air and opportunities to be together outdoors.

Jurijs Šalašovs, Sales and Marketing Manager at Saliena Group

The ParkLife Apratments complex will have two children’s playgrounds, walking and skating paths, as well as cycle paths. There will be several bicycle parking spaces and an exercise area with fitness equipment, street furniture and lighting. The area will be supplemented with around 1,500 plants, including mature trees such as chestnuts, maples and pines, which will reach a height of around 6 metres, as well as jasmine, lilac, acacia and hydrangea.

About Saliena

The Saliena team is responsible for the design and implementation of ParkLife Apartments, with 20 years of experience in the development, construction and management of residential complexes. Saliena’s comprehensive and focused attention to development has enabled the team to achieve the highest standards in project delivery. Constant attention to innovation and detail has helped Saliena to maintain its market-leading position and offer residents quality facilities that are thoughtfully designed down to the smallest detail. Saliena actively engages international talent and adopts international best practices and approaches. Collaboration with experienced Latvian and foreign architects, as well as interior and landscape designers, enriches the project with new ideas and provides an opportunity for creative problem solving.

About Signet Bank

Signet Bank is Latvia’s leading investment bank, founded in 1991 and one of the first banks in independent Latvia. Signet Bank offers sustainable financing and investment solutions to local entrepreneurs and businesses. Since 2021, Signet Bank has raised additional funding of EUR 1 billion for more than 50 Latvian companies through bond and equity issues. In 2024, funds under management reached EUR 1.6 billion. Signet Bank is the leading arranger of corporate bond and equity issues in Latvia and one of the leading stockbrokers in the Baltics. Signet Bank’s shareholders are eighteen Latvian and international private investors, the largest of which are Signet Acquisition III (22%), whose sole shareholder is US investor Aleksandrs Solovejs, AS “RIT Group” (18%) – a Latvian company owned by the Rapoport family, and SIA “Reglink” (14%), founded by banking professional Irina Pigozne.