Investor attention turns to Klīversala as exclusive Blue Marine development breaks ground

Premium riverside development offers rare entry point into Latvia’s underpriced UNESCO-listed district

A new residential development in central Riga is set to provide investors with access to one of the Baltic region’s most strategically located and historically rich neighbourhoods.

Known as Blue Marine, the 96-unit scheme is the second phase of a wider regeneration of Klīversala, a waterfront quarter on the west bank of the River Daugava, just minutes from the Old Town and located directly beside the city’s marina.

Developed by Pro Kapital Grupp, one of the region’s leading real estate companies, Blue Marine will deliver seven floors of premium residential space, combining design-led architecture, high energy standards and river-facing views.

The project follows the completion of the River Breeze Residence, and is part of a long-term transformation of the area into a modern, low-density residential quarter.

Apartment types range from studio flats with large balconies to five-room apartments and penthouses, with prices starting from €125,000 and reaching €745,000.

The building will meet A-class energy performance standards and include private underground parking.

All units will feature floor-to-ceiling windows, wide terraces, and shared green spaces, with finishes and materials sourced from leading European manufacturers.

The location offers residents a rare combination of tranquil riverside living and central access, with shops, restaurants, transport links and heritage areas all within walking distance.

Blue Marine is positioned as a lifestyle development for professionals, families and long-term residents looking for privacy and connection to nature.

Residents can enjoy an “active lifestyle by sailing from the Daugava River to the sea, practising yoga in the lush green courtyard, or strolling along the scenic waterfront promenade” according to its website.

The surrounding Klīversala Quarter dates back to 1248, and served as a vital 19th-century transport corridor between Riga and Jelgava. It was also the site of Latvia’s largest shipyard during that period. The name originates from Dietrich Klīver, a merchant who leased the land from the Riga City Council in the 17th century. Today, the wider area spans approximately five hectares and sits within the UNESCO World Heritage protection zone.

Despite its riverfront setting, historical significance and architectural controls, Klīversala remains largely under-recognised by UK and Western European investors, making it one of the few remaining pockets of high-potential residential land close to the city centre.

Regulatory constraints and limited supply reinforce the long-term investment case for early entry.

Pro Kapital Grupp, which is based in Estonia, has a 30-year track record of residential and commercial development across Tallinn, Riga, and Vilnius, with a focus on centrally located, large-scale urban projects.

Construction of Blue Marine will begin shortly.

All photos: Courtesy, Blue Marine