The development of the “Ziedoņdārza pērle” residential project has secured EUR 2 million in financing from Signet Bank. The financing will support the development of a new residential project comprising three residential buildings and offering 60 apartments for both purchase and long-term rental.
“Ziedoņdārza pērle” will be developed at 63 Matīsa Street in Riga, opposite Ziedoņdārzs Park. Construction has already begun, and the buildings are expected to be commissioned on June 30 of this year. Prospective buyers will be able to purchase apartments ranging from 31 to 44 m² in the building located directly on the park’s edge, offering panoramic views of the park. Apartments for long-term rental, ranging from 18 to 55 m², will be available in the buildings located in the project’s courtyard. Residents will also have the option to rent parking spaces.
“When planning this project, our goal was to create an environment, not just buildings. The three residential buildings form a unified ensemble with a shared courtyard that becomes part of residents’ everyday living space, while Ziedoņdārzs Park naturally extends this environment. As a result, residents can live in the center of Riga while still enjoying peace, greenery, and space around them – a feeling closer to living in a park than simply next to one. In recent years, this neighborhood has developed significantly, and demand for this kind of balance in the urban environment continues to grow,” says Kaspars Kukelis, owner of real estate developer Z Park Apartments.
“The development of residential projects in central Riga remains an important part of the city’s urban and housing market development. We see stable demand for high-quality, compact homes in strong locations, and projects of this kind are becoming increasingly relevant for both buyers and investors. The project near Ziedoņdārzs Park is a good example of how urban dynamism can be combined with a green and well-maintained environment,” says Ineta Done, Member of the Management Board of Signet Bank.
About the Real Estate Developer
Z Park Apartments is a local real estate developer whose sole owner has more than 10 years of experience in developing and managing residential rental projects. Near Ziedoņdārzs Park, he has successfully developed and operates the “Sparģeļu rezidence” rental project, which includes 25 apartments and has maintained stable and strong demand throughout its operation.
About Signet Bank:
Signet Bank is Latvia's leading investment bank, founded in 1991 and one of the first independent banks in Latvia. Signet Bank offers sustainable financing and investment solutions to local entrepreneurs and companies. Since 2021, Signet Bank has arranged additional financing of EUR 1 billion for more than 50 Latvian companies through bond and share issues, while new lending transactions amounted to EUR 500 million. In 2025, assets under management and administration reached EUR 1.7 billion. Signet Bank is the leading arranger of corporate bond and equity issues in Latvia and one of the leading stock exchange brokers in the Baltics. Signet Bank's shareholders are 37 Latvian and international private investors, the largest of which are Signet Acquisition III (21,4%), whose sole shareholder is US investor Alexander Solovey, SIA Reglink (13,9%), founded by banking professional Irīna Pīgozne, and AS RIT Group (10,2%), a Latvian company owned by the Rapoport family.
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