BluOr Bank allocates 15.8 million EUR to a premium-class project in Klīversala

December 10, 2025

BluOr Bank has approved €15.8 million in financing for the next stage of the Klīversala quarter development — the construction of the premium-class residential project Blue Marine. The project developer is SIA BM Klīversala, a subsidiary of the Estonian public company AS Pro Kapital Grupp, one of the most experienced and recognized real estate developers in the Baltic capitals.

Construction is already underway, marking a major step forward in bringing this distinctive residential concept to life. Earthworks are in progress, with further structural works to follow, which will include a two-level underground car park, individual storage units, and technical premises. The project is scheduled for completion in mid-2027.

The new A-class energy-efficient building will offer 96 fully finished apartments, each featuring a private balcony or terrace, large panoramic windows and thoughtfully designed landscaping. Residents will also benefit from a waterfront promenade and the possibility to dock motor yachts and other watercraft in the immediate vicinity.

The financing covers the full construction cycle as well as the landscaping of the surrounding area, creating a high-quality living environment directly on the banks of the Daugava River with panoramic views of Riga’s Old Town. The total investment in the project will exceed €20 million.

Mārtiņš Kusiņš, Managing Director of AS Pro Kapital Latvia, comments: “Blue Marine" marks an important chapter in the evolution of the Klīversala quarter and the broader revitalization of Riga’s waterfront. This project is designed to bring residents closer to nature and the Daugava River, offering direct water access and a refined, tranquil lifestyle. With its distinctive architecture, "Blue Marine" provides comfort, quality, and a unique residential experience on the riverbank.

The developer’s objective is to integrate Blue Marine into the historical and architectural context of Klīversala, ensuring a balance between the area’s cultural heritage and modern construction practices. The project emphasizes durable materials, energy-efficient solutions, and a high-quality living environment shaped with long-term value in mind.

The Klīversala quarter is a modern, high-quality development that blends contemporary architecture with natural surroundings and an exceptional location directly on the Daugava River. It is designed as a space where the energy of the city coexists harmoniously with a relaxed everyday rhythm.

The master plan for the quarter pays special attention to green areas — valuable trees will be preserved, landscaped gardens will be created, and elegant greenery will give the impression of living in a park. The territory will be free of cars, ensuring a safe, peaceful, and visually clean environment for residents.

The Klīversala quarter enjoys an excellent location — next to the expansive Uzvaras Park and only a few minutes walk from Riga’s Old Town. This provides a unique opportunity to enjoy both the city’s cultural and culinary life as well as the presence of nature on a daily basis.

Investment in the Klīversala quarter is a long-term value — a property that will retain its significance and appeal for generations. It is an investment not only in real estate but also in a high-quality living environment and the future.