BREL AWARDS 2026 VOTING

DEVELOPER OF THE YEAR

This category celebrates those developers that since Sept of 2025 has delivered to the market one or several projects that offer the society and end-users the highest satisfaction.

YIT Latvija

YIT Latvija combines Finnish construction expertise with local market knowledge, delivering sustainable, energy-efficient homes within thoughtfully planned residential environments. With 28 years in Latvia and more than 110 years of YIT Group experience, it offers long-term quality and reliability.

about ➔

YIT Latvija

Invego/Reterra

Invego and Reterra are two of Estonia's most experienced developers, with over 10 years of experience and 2,000+ homes created. Guided by the belief that a good home is more than a building, they create thoughtfully designed neighborhoods and future-ready homes, bringing Nordic living to Latvia.

about ➔

Invego/Reterra

River Properties

River Properties is one of the leading local real estate developers in Latvia's premium segment, in a market otherwise dominated by economy-class projects. Active for 7 years, it specializes in the renovation of pre-war buildings and in high-end new developments across Riga and Jurmala.

about ➔

River Properties

Kaamos Real Estate

Kaamos Real Estate is recognized by its clients as a developer of good-quality, highly sustainable and well-located residential projects. These standards are met through its own construction company, Kaamos Construction, whose professional team maintains them throughout the building process.

about ➔

Kaamos Real Estate

Bonava Latvija

As one of Latvia’s largest residential developers, Bonava combines scale with a strong focus on housing affordability, maintaining some of the most accessible prices in the new-build market and expanding access to quality homes through both ownership and rental.

about ➔

Bonava Latvija

COMMERCIAL PROJECT OF THE YEAR

This category honours a commercial project or stage of a project finished since Sept of 2025 that brings added value to the city development.

Aura Kvartāls

Aura Kvartāls is the largest retail park in the Baltics dedicated to home and interior goods, and the only one to host a co-working space for interior designers. The 15,787 m² project represents EUR 20 million of investment, and a third stage adding a further 7,000 m² is to be built in 2027.

about ➔

Aura Kvartāls

SIRIN PARK Airport (2nd stage)

SIRIN PARK Airport II adds 30,000 m² of flexible space, turning a strategic location next to Riga Airport into a hub for logistics, mobility and technology. Smart, energy-efficient and sustainable design supports business growth, resilient supply chains and Riga's role as a distribution center.

about ➔

SIRIN PARK Airport

Duck Republik

Duck Republik Slokas 51 is the largest private investment ever made in higher education accommodation in Latvia. The purpose-built student housing scheme, designed by Vilnis Miculis Architects, delivers 211 units and introduces a professionally managed PBSA product new to the Latvian market.

about ➔

Duck Republik

RESIDENTIAL PROJECT OF THE YEAR

This category honours a residential project or stage of a project finished since Sept of 2025 that brings added value to the city development.

Mārpagalmi 3

Mārpagalmi 3 forms part of a sustainable new residential quarter in Riga's Āgenskalns, built around green courtyards. It combines energy-efficient homes, shared community spaces and the surrounding nature, creating a distinctive small-town atmosphere for its residents within the city.

about ➔

Mārpagalmi 3

Muuna

Muuna stands out through its distinctive architecture, durable façade materials and CLT elements in the ceilings and stairs of the top-floor apartments, complemented by carefully designed landscaping. Its 2.5-hectare green courtyard is a defining feature of the residential quarter.

about ➔

Muuna

Arena Garden Towers – A1

Arena Garden Towers – A1 is Latvia's first apartment building with energy pile technology, using renewable energy to reduce residents' costs. It is the tallest residential building completed on that side of Riga's Daugava in the past decade, with a shared rooftop terrace and landscaped courtyard.

about ➔

Arena Garden Towers – A1

Magdelēnas Kvartāls

Designed for long-term rental, Strēlnieku 4C offers 57 fully or partly furnished homes, with or without balconies, set around a green courtyard. It provides smart home technology, keyless access, Class A energy efficiency, nearly zero-energy performance and is designed to meet LEED requirements.

about ➔

Magdelēnas Kvartāls

Poēzija

Poēzija is located in the highly sought-after Āgenskalns area, 300 meters from Māras pond. It combines good architecture in three-storey buildings with nature all around, while Riga's Old Town remains within a 15-minute walk — exactly as the project slogan says: a place to come to.

about ➔

Poēzija

Skanstes Rezidences

Skanstes Rezidences offers modern architecture and loft-style apartments with ceilings up to 6 m, large windows and spacious terraces. The project provides A-class energy efficiency with geothermal heating, in a prime location near Riga's business district and the Quiet Centre.

about ➔

Skanstes Rezidences

Hartmaņa kvartāls (1st phase)

Developed on a formerly degraded industrial site, Hartmaņa kvartāls transforms an underused urban area into a sustainable residential neighborhood. The project sets a new benchmark for the area and contributes to the long-term regeneration and development of Torņakalns.

about ➔

Hartmaņa kvartāls

Heart of Hanza

Heart of Hanza is a premium business-class project between Riga's Quiet Centre and Skanste. It features 127 ergonomic apartments of 45–350 m² with private outdoor areas, A+ energy efficiency, a green courtyard, pet-friendly amenities and underground parking with EV chargers and storage.

about ➔

Heart of Hanza

REVITALIZED PROJECT OF THE YEAR

This category honours a project which has been reconstructed, rebuilt or where concept has been notably improved since Sept of 2025.

NORDO Noliktavu 7 by SG CAPITAL

NORDO Noliktavu 7 has been fully reconstructed from a simple, unheated storage area into warehouse and production premises that meet A-class energy standards, equipped with six bridge cranes for tenants. The redevelopment covers 16,519 m² and represents EUR 8 million of investment.

about ➔

NORDO Noliktavu 7 by SG CAPITAL

Jūras Skati by Incity Capital

Jūras Skati redefines seaside living in Jūrmala, 100 meters from the sea. The complex offers 103 compact apartments and lofts, 112 parking spaces, a 200 m² social lobby with co-working space and a shared rooftop terrace with panoramic views, uniting affordability, community and resort-style living.

about ➔

Jūras Skati by Incity Capital

Dominante Park by Roņu ieleja 2

Dominante Park stands out through its integration of large-scale renewable energy and efficient heating: a 400 kW solar PV and battery system together with 850 kW industrial heat pumps. The 53,000 m² redevelopment transforms a former industrial site into a modern, lower-carbon business park.

about ➔

Dominante Park by Roņu ieleja 2

Colonel's House by River Properties

Colonel's House takes no shortcuts: two historic buildings were fully renovated with new windows, insulated façades and roofs, and entirely new water, sewage, heating, air conditioning, ventilation and electricity networks and that is only part of the work.

about ➔

Colonel's House by River Properties

DEVELOPMENT LAUNCH OF THE YEAR

This category honours a notable development that has commenced construction since Sept of 2025, recognizing projects that demonstrate confidence in the market through ambitious investment, vision, and long-term commitment.

VERDE C&D stage by Capitalica Asset Management

The strong performance of VERDE A&B, with 0% vacancy and an established reputation, gives Capitalica Asset Management the confidence to continue and build more nearby. The C&D stage represents a EUR 75 million investment, adding 35,000 m² GBA and 22,500 m² of leasable space.

about ➔

VERDE C&D stage by Capitalica Asset Management

FABRIKA by VPH LATVIA

A bold EUR 45 million investment by VPH Latvia brings Fabrika's vision to life, reimagining retail by combining shopping, a major SPA and swimming pool, vibrant dining and green public spaces across 20,000 m² into a destination unlike anything else in the Latvian market.

about ➔

FABRIKA by VPH LATVIA

The Powerhouse by Riga Waterfront

The Powerhouse launch signals strong confidence in Riga's future, combining an ambitious EUR 80 million investment with a bold vision for a landmark waterfront destination. It reflects a long-term commitment to creating a year-round hub for culture, dining, retail and public life across 15,000 m².

about ➔

The Powerhouse by Riga Waterfront

SIRIN PARK Dreiliņi by SIRIN Development

SIRIN PARK Dreiliņi represents a EUR 40 million commitment to Riga: a new-generation business and service park combining flexible premises, energy-efficient technologies, sustainable design, upgraded infrastructure and public spaces, creating long-term value for business and community.

about ➔

SIRIN PARK Dreiliņi by SIRIN Development

SC Spice Life reconstruction by SIA MKEE

The reconstruction of SC Spice Life by SIA MKEE invests EUR 11 million in comprehensive interior refurbishment, improved accessibility and energy-efficient technologies across 12,000 m², ensuring the center remains a high-quality shopping destination for years to come.

about ➔

SC Spice Life reconstruction by SIA MKEE

AUGUST by River Properties

River Properties proved the rebirth of Jūrmala's premium market with NOBLE Residence, selling 85% of its apartments in 10 months. Addressing the city's shortage of high-end real estate, AUGUST will confidently fill this gap with 13 apartments while revitalizing local architecture.

about ➔

AUGUST by River Properties

Hagen by Kaamos Real Estate

Hagen's first stage comprises 76 apartments, with a further 220 to follow in later stages. Since construction began in May, 68% of the apartments have already been preliminarily sold or booked, reflecting a combination of strong architecture and a prime location in Āgenskalns.

about ➔

Hagen by Kaamos Real Estate

Vītolu Parks by Invego

Vītolu Parks, developed by Invego, is a significant long-term investment in creating a new, high-quality neighborhood of 360 units, combining modern homes, generous green spaces and supporting infrastructure, all designed to deliver lasting value for its residents.

about ➔

Vītolu Parks by Invego

Tirdzniecības centrs Imanta by KP3 SIA

Phase 1 of this project transformed nearly 5,000 m² of the former Radiotehnika building into modern retail. Phase 2 is underway, adding 7,500 m² of new retail by H2 2027, followed by Apollo Cinema in H1 2028, demonstrating strong investment and long-term confidence in Imanta.

about ➔

Tirdzniecības centrs Imanta by KP3 SIA

Signature House by Wolfschmidt, by One Development

Signature House by Wolfschmidt, developed by One Development, converts an industrial building dating back to 1837 into 6,781 m² of homes overlooking Riga's oldest park and Quiet Centre, with EUR 9 million invested. Completion is planned for H1 2027 and 48% of apartments are already reserved.

about ➔

Signature House by Wolfschmidt, by One Development

New Hanza apartamenti by Pillar

Pillar's first residential development in New Hanza reflects a long-term commitment to the district: EUR 47 million has been secured for the first stage, delivering 258 apartments alongside new infrastructure and a public park, establishing the residential core of an emerging city quarter.

about ➔

New Hanza apartamenti by Pillar

DEAL OF THE YEAR

This category celebrates standout investment and acquisition transactions completed since Sept of 2025, recognized for their scale, strategic importance, or market profile.

Baltic Horizon Fund

The transaction is a takeover of a listed real estate fund and of its management company. Grinvest acquired Baltic Horizon Fund from Northern Horizon in a deal valued at more than EUR 200 million, covering a portfolio of 11 properties and some 120,000 m² of space.

Seller: Northern Horizon; Buyer: Grinvest

about ➔

Baltic Horizon Fund

Cita Santehnika

Setting a new benchmark for neighborhood retail, this EUR 7.5 million acquisition transforms the former Cita Santehnika into T/C ASTRA, a Rimi-anchored convenience destination with 4,343 m² of leasable space serving one of Riga's largest residential, office and education catchments.

Seller: Bitateks Ltd; Buyer: Realto Astra

about ➔

Cita Santehnika

Ventspils x Lielirbes

For Capitalica Asset Management the acquisition is a natural next step after Verde: from setting a new benchmark for Riga's office market to bringing the same approach to high-quality urban living, creating comfortable, well-designed homes that set a new standard for living in Riga.

Seller: SIA URBAN1; Buyer: CAPITALICA ASSET MANAGEMENT

about ➔

Ventspils x Lielirbes

Blaumaņa 5A

One of the largest recent historic property deals in central Riga, valued at EUR 8.9 million. The project will transform a major former office building of more than 7,300 m² into a high-quality residential development, unlocking a prime location while preserving its historic character.

Seller: SIA Blaumaņa Centrs; Buyer: BAURUM

about ➔

Blaumaņa 5A

SC Damme, SC Auriga, Alojas Biroji/Kvartāls and Zaļā 1 acquisition

Beyond the Fund's growth in scale, the transactions brought five assets worth over EUR 94 million, previously owned by Scandinavian and Estonian investors, back into local ownership, marking a shift toward stronger local capital participation in the region's commercial real estate market.

Seller: Summus Capital, Eastnine; Buyer: Provendi Real Estate Fund AS

about ➔

SC Damme, SC Auriga, Alojas Biroji/Kvartāls and Zaļā 1 acquisition

Šmerļa iela 1k-2

The acquisition secures a unique 1.67 ha development site in Riga between AKROPOLE Alfa and the future Rimi shopping center, enabling the city's first mixed-use lifestyle center of 24,510 m², combining wellness, hospitality, fitness, entertainment and office functions.

Seller: SIA "Brīvības 382" (Linstow AS Group); Buyer: Capital Mill

about ➔

Šmerļa iela 1k-2

Melngaiļa 1

A strategic EUR 4 million acquisition of 6,690 m² of land in a unique location bridging Riga's Quiet Centre and Skanste. Limited availability in central Riga underlines the asset's value, securing exceptional liquidity, sustained long-term capital appreciation and strong market resilience.

Seller: SIA Adventika Group; Buyer: SIA K28

about ➔

Melngaiļa 1

SC Domina Shopping

The acquisition of Domina Shopping is one of the Baltic region's notable retail real estate transactions, combining a large institutional-quality asset of some 42,000 m² of leasable space with a club of private investors and demonstrating strong confidence in Riga's commercial property market.

Seller: EfTEN Capital; Buyer: A club of investors

about ➔

SC Domina Shopping

Archives

Categories

BREL AWARDS 2026 VOTING

DEVELOPER OF THE YEAR

YIT Latvija

Invego/Reterra

River Properties

Kaamos Real Estate

Bonava Latvija

COMMERCIAL PROJECT OF THE YEAR

Aura Kvartāls

SIRIN PARK Airport (2nd stage)

Duck Republik

RESIDENTIAL PROJECT OF THE YEAR

Mārpagalmi 3

Muuna

Arena Garden Towers – A1

Magdelēnas Kvartāls

Poēzija

Skanstes Rezidences

Hartmaņa kvartāls (1st phase)

Heart of Hanza

REVITALIZED PROJECT OF THE YEAR

NORDO Noliktavu 7 by SG CAPITAL

Jūras Skati by Incity Capital

Dominante Park by Roņu ieleja 2

Colonel's House by River Properties

DEVELOPMENT LAUNCH OF THE YEAR

VERDE C&D stage by Capitalica Asset Management

FABRIKA by VPH LATVIA

The Powerhouse by Riga Waterfront

SIRIN PARK Dreiliņi by SIRIN Development

SC Spice Life reconstruction by SIA MKEE

AUGUST by River Properties

Hagen by Kaamos Real Estate

Vītolu Parks by Invego

Tirdzniecības centrs Imanta by KP3 SIA

Signature House by Wolfschmidt, by One Development

New Hanza apartamenti by Pillar

DEAL OF THE YEAR

Baltic Horizon Fund

Cita Santehnika

Ventspils x Lielirbes

Blaumaņa 5A

SC Damme, SC Auriga, Alojas Biroji/Kvartāls and Zaļā 1 acquisition

Šmerļa iela 1k-2

Melngaiļa 1

SC Domina Shopping

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