New Hanza Apartments is a large-scale residential development located in the Skanste district of Riga, positioned within the New Hanza urban quarter, one of the most important transformation zones in the city. The project represents a modern, master-planned approach to residential living, combining contemporary architecture, energy-efficient construction, and integrated urban infrastructure within a fast-developing business and residential district.
The development consists of four residential buildings with a total of 258 apartments, designed to accommodate a wide range of buyer profiles, from compact units to larger family-oriented layouts. The project offers a structured mix of apartment types, including one-room, two-room, three-room, four-room, and five-room units, with sizes ranging from approximately 28 m² to over 200 m², allowing flexibility for both end-users and investors targeting different segments of the market.
From a development standpoint, the project emphasizes high-quality technical solutions and energy efficiency, including Class A energy performance standards, solar panels for shared electricity use, and advanced ventilation systems with heat recovery. These features align with modern European residential expectations and contribute to long-term operational efficiency and reduced utility costs. The buildings are designed with full interior finishing, which simplifies the transition from purchase to occupancy or rental.
The internal infrastructure of the project is structured to support daily residential functionality. New Hanza Apartments includes covered parking spaces, electric vehicle charging points, individual storage rooms, and dedicated common-use areas for bicycles and strollers. A gated courtyard of approximately 2,400 m² provides a controlled residential environment with recreational and leisure spaces, including a children’s playground and outdoor activity areas. Security is integrated through video surveillance, access control systems, and smart home technologies within each unit.
The location is a key component of the project’s investment positioning. Skanste is Riga’s primary expansion district, characterized by new business centers, residential developments, and infrastructure growth. Within this district, the New Hanza area functions as a master-planned urban quarter, incorporating residential, commercial, and public spaces. The proximity to New Hanza Park, a planned green space of approximately 1.6 hectares, enhances the long-term livability and value of the project.
From a timeline perspective, construction of all four buildings began in October 2025, with topping-out scheduled for September 2026, project commissioning planned for September 2027, and full readiness for occupancy expected by November 2027. This positions the development firmly within the active off-plan and under-construction category.
The payment structure provides flexibility for buyers. A minimum 10% reservation payment is required, with staged payment options offering potential discounts of up to 5% depending on the payment schedule. This creates opportunities for investors to structure their capital deployment over the construction period rather than committing full upfront capital.
From an investment perspective, New Hanza Apartments is aligned with Skanste’s long-term growth trajectory. Unlike established central districts, the value proposition here is driven by future development, infrastructure expansion, and increasing demand over time. The project is not positioned as a short-term speculative asset, but rather as a growth-oriented residential investment within a developing urban ecosystem.
In the context of Latvia’s residency-by-investment framework, some units within New Hanza Apartments are relevant for investors seeking property-linked residence permits. However, eligibility depends on the specific unit, its valuation, and compliance with regulatory requirements. As with all Latvian property-based residency cases, qualification is determined at the individual transaction level rather than at the project level.
Strategically, New Hanza Apartments can be positioned as a modern residential project within Riga’s future central business district, offering new-build quality, scalable development, and long-term investment potential. It is particularly suitable for investors who prioritize growth and modern infrastructure over historic central positioning, making it a complementary asset to projects located in more established districts such as Klusais Centrs.
