The developers of the new apartment project "Degelava Gleznotāju rezidence" have completed two buildings in the second phase, featuring 142 new apartments. The two 10-story buildings feature studio, two-, three-, and four-bedroom apartments located in a well-maintained and modern neighborhood. Residents are expected to receive the keys to their new apartments by the new year.
Residents of the first phase of this project have been living there for about a year and greatly appreciate the energy efficiency of their homes, which significantly reduces heating costs. This year, in the “Most Energy-Efficient Building in Latvia 2024” competition, in the “Most Energy-Efficient Multi-Family Building in Latvia 2024. New Construction,” the Deglava Painters’ Residence won the prestigious 2nd place; the project has been recognized as the best in terms of energy efficiency in Riga. The competition was organized by the Ministry of Economics in collaboration with the Ministry of Climate and Energy and the Latvian Association of Civil Engineers.
In the second phase, 80% of the apartments have been reserved, and given the high demand for new apartments in Riga, construction has also begun on the third phase of the project, where the developer has managed to keep property prices at the same level as in the second phase.
Kristaps Lukašinskis, CEO of the real estate development company KSIA UNICO, says: “We are investing a great deal of energy and effort into the Deglava Painter's Residence project to ensure modern, high-quality apartments at affordable prices. This second phase of construction proceeded smoothly, building on the insights and lessons learned during the first phase. We would like to highlight our collaboration with our partners—the construction company “Monum,” which professionally handled the construction challenges; the developer “Electra,” which, thanks to its international experience, improved work processes; and AS “Rietumu Bank,” with whom we have established a successful partnership to secure the necessary financing for the project.”
The developer of “Deglava Artists’ Residences” is KSIA “Unico,” a Latvian subsidiary of the international company “Electra Ltd.” Construction work is being carried out by SIA “Monum.” The project was designed by the architectural firm SIA “Tectum.” Construction supervision is provided by “BLV Advisory Group.” The project is co-financed by AS “Rietumu banka.”
