Real estate developer “Centrus Real Land” has launched construction of the final phase of the CENTRUS quarter. The five new residential buildings with high-quality apartments and commercial premises on the ground floors are built in the project. The developer plans to complete the new quarter by the end of 2027. The buildings are designed by the architecture office “Layout17”, the construction works are carried out by “Monum”.
Total investment in Phase 2 will reach EUR 30 million, of which EUR 25 million is jointly provided by BluOr Bank and Signet Bank—two Latvian banks demonstrating the local financial sector’s ability to pool resources and offer substantial financing solutions for a modern, high-quality project.
CENTRUS is located in Riga’s historic centre, in a block bordered by Tērbatas, Blaumaņa, Dzirnavu and K. Barona street. This is Riga’s area renowned for its distinctive charm and vibrant urban energy. The quarter blends harmoniously with the surrounding architecture, creating a contemporary living environment with sustainable solutions and the widest range of amenities in the neighbourhood.
“By launching the final phase of the CENTRUS development, we are completing a comfortable and welcoming quarter that embodies the essence of life in Riga’s centre—being just steps away from culture, entertainment, education and leisure, while enjoying privacy, a landscaped promenade, and a high-quality, modern and secure environment,” says Bruno Bergmanis, Member of the Board of “Centrus Real Land”.
In Phase 1, the developer built two seven-storey residential buildings with 82 apartments and commercial premises. All apartments have been sold and the commercial units fully leased. Phase 1 also included the creation of a spacious and green pedestrian promenade connecting Blaumaņa and Dzirnavu streets. A two-level underground car park has been constructed for use by residents, visitors and other drivers.
Phase 2 will add four seven-storey buildings and one five-storey building to the quarter. All new buildings will be constructed simultaneously to ensure efficient progress and reduce construction time. In total, 142 apartments will be built, ranging in size from 24 to 210 m². The buildings’ ground floors will house seven commercial units (90 to 560 m²). During Phase 2, the quarter’s promenade will be fully completed and landscaped.
“For us as the general contractor, construction of the CENTRUS quarter is a particularly significant project, as it combines a high-quality residential environment with sustainable, technologically advanced solutions right in the centre of Riga. Our team has extensive experience working in densely built-up areas, and here we are paying special attention to precise planning, work culture and attention to detail—reflecting the ambitions of both our company and the developer,” says Evita Domello, Member of the Board of “Monum”.
The project’s exclusive sales partner is Latvia Sotheby’s International Realty.
“CENTRUS offers a safe and peaceful environment in a quality location, with green zones and modern infrastructure. Demand for apartments and commercial premises in such properties continues to grow. They are sought by young families, young professionals, active seniors, as well as Latvians living abroad who want a comfortable and secure second home. Naturally, a project like this is also attractive to investors and commercial tenants. There are currently very few new, high-quality residential projects in Riga’s centre that meet modern premium-living standards. This is precisely why CENTRUS is special and awaited. It offers all these advantages just steps away from the opera, theatres, cafés and galleries. It is an excellent choice for anyone who appreciates the dynamism, quality and comfort of central living,” says Ilze Mazurenko, Managing Director of “Latvia Sotheby’s International Realty”.
Apartment sales and reservations have already begun. Buyers can choose the most suitable home in one of the five buildings and plan apartment combinations early, creating larger layouts tailored to their individual needs. All apartments will be delivered fully finished, using high-quality materials, and will meet A+ energy-efficiency standards.
ABOUT CENTRUS
CENTRUS is located between Blaumaņa, Dzirnavu, Tērbatas and K. Barona streets. The new quarter offers convenient and peaceful living in the centre of Riga, thanks to its excellent location and dynamic surroundings, green zones, convenient underground parking and modern infrastructure. The project’s guiding message is “Be at the centre of life!” More information and apartment reservations: www.centrus.lv
ABOUT CENTRUS REAL LAND
The company is the developer of the CENTRUS quarter in central Riga. Following the successful completion of Phase 1, which added two new buildings with 82 apartments and an underground car park, the developer launched construction of the second and final phase in autumn 2025, investing EUR 30 million.
ABOUT LATVIA SOTHEBY’S INTERNATIONAL REALTY
Latvia Sotheby’s International Realty represents the globally recognised Sotheby’s International Realty brand and specialises in premium and luxury real estate transactions—from exclusive residences and apartments to commercial properties and investment projects. The company provides clients with international expertise, trusted partnership and a personalised approach.
ABOUT MONUM
One of Latvia’s leading construction companies, with more than 20 years of experience in the design and construction of buildings, engineering structures and infrastructure. The company delivers high-quality, sustainable projects in both the public and private sectors, providing a full construction cycle, from design to commissioning. The Monum team places special emphasis on safety, precision and collaboration with partners, shaping a modern urban environment and advancing quality standards in Latvia’s construction industry.
