Signet Bank and BluOr Bank grant financing for the second phase of construction in the CENTRUS quarter

Real estate developer Centrus Real Land is starting the final phase of construction in the CENTRUS quarter. The project includes five new residential buildings with high-quality apartments and commercial premises on the first floors. The developer plans to complete the new quarter by the end of 2027. The buildings were designed by the architectural firm Layout17, and construction work in the quarter is being carried out by the construction company Monum.

The total investment in the second phase of the project will reach 30 million euros, of which 25 million euros will be jointly provided by BluOr Bank and Signet Banka – two Latvian banks, demonstrating the local financial sector’s ability to combine resources and offer significant financing solutions for a modern, high-quality project.

CENTRUS is located in the historic center of Riga, in a quarter surrounded by Tērbatas, Blaumaņa, Dzirnavu, and K. Barona streets – a place known for its special charm and active urban rhythm. The quarter blends harmoniously into the city center’s buildings and architecture, creating a modern living environment with sustainable solutions and the widest range of amenities in the neighborhood. 

The growing demand for financing real estate development and renovation projects, especially in the residential segment, confirms stable market development and confidence in local projects. The final phase of CENTRUS is an excellent example of high-quality and sustainable development in the center of Riga – a project with added value for the city and its residents. Signet Bank is pleased to finance such projects, offering not only classic credit solutions, but also structured financing models that help entrepreneurs realize their ambitious plans and promote the city’s long-term growth,

emphasizes Roberts Idelsons, CEO of Signet Bank.

With the final phase of CENTRUS construction underway, we are shaping a welcoming and well-appointed neighborhood that embodies the quality of life in central Riga. That is, the opportunity to be just a few steps away from cultural, entertainment, educational, and recreational venues, while enjoying privacy, a well-maintained promenade, and a high-quality, modern, and safe environment,

emphasizes Bruno Bergmanis, member of the board of Centrus Real Land.

In the first phase of CENTRUS, the developer built two seven-story residential buildings with 82 apartments and commercial premises. All apartments have been sold, but the commercial premises have been leased. The first phase also included the creation of a spacious and green pedestrian and recreational promenade, connecting Blaumaņa and Dzirnavu streets. CENTRUS has a two-story underground parking garage, which is used by residents of the neighborhood, guests, and other drivers.

In the second phase, the quarter will see the construction of four seven-storey buildings and one five-storey building. All new buildings in the quarter will be constructed simultaneously to ensure smooth progress and shorten the construction period. In total, 142 apartments ranging from 24 to 210 m² will be built. The ground floors of the buildings will accommodate seven commercial units (90 to 560 m²). During the second phase, the quarter’s promenade will also be completed and fully landscaped.

The construction of the CENTRUS quarter is a particularly important project for us as a general contractor, as it combines a high-quality living environment with sustainable, technologically advanced solutions in the very center of Riga. Our team has experience working in densely built-up areas, and here we pay special attention to precise planning, work culture, and quality of detail, which reflects both our ambitions and those of the developer,

says Evita Domello, member of the board of Monum.

The exclusive sales partner for the project is Latvia Sotheby’s International Realty.

CENTRUS offers a safe and peaceful environment in a desirable location, with green areas and modern infrastructure. Demand for apartments and commercial premises in such properties continues to grow – they are sought after by young families, young professionals, active seniors, as well as Latvians living abroad who wish to have a comfortable and safe secondary home. Of course, such a project is attractive to investors and commercial space tenants. There are currently very few new, high-quality residential projects in the center of Riga that meet modern premium living standards. That is why CENTRUS is special and eagerly awaited – it offers these amenities just a few steps away from the opera, theaters, cafes, and galleries. It is an excellent choice for anyone who appreciates the dynamics, quality and comfort of city centre living,

comments Ilze Mazurenko, Director of Latvia Sotheby’s International Realty.

The sale and reservation of apartments has already begun. Buyers have the opportunity to choose the most suitable place for themselves in one of the five buildings, as well as to plan the merging of apartments in advance, creating a more spacious living space that is better suited to their individual needs. All apartments will be delivered fully finished, using high-quality materials and ensuring A+ class energy efficiency.

ABOUT CENTRUS
CENTRUS is located between Blaumaņa, Dzirnavu, Tērbatas and K. Barona streets. The new neighborhood offers a comfortable, peaceful, and opportunity-filled life in the center of Riga, provided by its excellent location and dynamic surroundings, green areas, convenient underground parking, and modern infrastructure. The project’s message is “Be at the center of life!” Additional information and apartment reservations: www.centrus.lv

ABOUT CENTRUS REAL LAND
The company is the developer of the CENTRUS quarter in the center of Riga. Following the successful completion of the first phase of the project, which involved the construction of two new buildings with 82 apartments and an underground parking lot, the developer began construction of the second and final phase of the quarter in the fall of 2025, investing 30 million euros in the project.

ABOUT LATVIA SOTHEBY’S INTERNATIONAL REALTY
Latvia Sotheby’s International Realty represents the globally recognized Sotheby’s International Realty brand and specializes in premium and luxury real estate transactions – from exclusive residences and apartments to commercial properties and investment projects. The company provides its clients with international experience, reliable partnerships, and an individual approach.

ABOUT MONUM
Monum is one of Latvia’s leading construction companies with more than 20 years of experience in the design and construction of buildings, civil engineering structures, and infrastructure. The company implements high-quality and sustainable projects in both the public and private sectors, providing a full construction cycle — from design to commissioning. The Monum team pays special attention to safety, precision, and cooperation with partners, creating a modern urban environment and developing quality standards in the Latvian construction industry.