Launch of the Pētersala residential project (Riga, Latvia)

SIA Merko Mājas, part of the AS Merko Ehitus group, has launched the residential development project in Riga’s prestigious and Quiet Centre at Pētersalas street 3 and 5 in Riga. The architectural ensemble of four elegant buildings will comprise a total of 105 new homes and four commercial units, scheduled for completion in the summer of 2028.

Merko Mājas will reconstruct two architecturally significant heritage buildings, named Valensis and Selonija, designed by renowned Latvian architect Konstantīns Pēkšēns, who authored more than 250 notable buildings in Riga at the turn of the 20th century. The two new buildings in the quarter will be named Fera and Amia.

The buildings of the Pētersala project (petersala.merkomajas.lv) meet A energy efficiency standards. All apartments will feature underfloor heating and a heat recovery ventilation system, while apartments on the upper floors will also be equipped with air conditioning. Parking spaces and private storage units are located in an underground garage beneath three of the buildings.

Apartment sizes range from 30 to 150 square metres, with prices per square metre ranging from 3,689 to 4,905 euros. The quarter offers 1- to 5-room apartments with a variety of layouts, featuring both balconies and private terraces overlooking the inner courtyard. The top floors of the two new buildings will include exclusive two-level lofts, while the upper floor of the historic Selonija building will feature mansard apartments with ceiling heights of up to 4.7 metres and roof windows in every room.

Merko will create a landscaped inner courtyard around the buildings, featuring green areas, children’s playgrounds, and leisure spaces. The shared courtyard will connect the Pētersala residential environment with Merko’s earlier Viesturdārzs project, giving residents of the new quarter direct access to one of Riga’s most beloved green spaces, Viesturdārzs Park.

SIA Merko Mājas (merkomajas.lv) is a recognised Latvian residential developer. To ensure the best quality, convenience and assurance for home buyers, Merko manages all phases of development: planning, design, construction, sales, and warranty service.

Additional information: Mr. Roberts Rēboks, Board member of SIA Merko Mājas, phone: +371 2806 1061.

Urmas Somelar
Head of Finance
AS Merko Ehitus
+372 650 1250
urmas.somelar@merko.ee

AS Merko Ehitus (group.merko.ee) group companies construct buildings and infrastructure and develop real estate. We create a better living environment and build the future. We operate in Estonia, Latvia and Lithuania. As at the end of 2025, the group employed 613 people, and the group’s revenue for 2025 was EUR 311 million.

Attachments

• Petersala visualisation 1
• Petersala visualisation 2