Start of construction works on the Blue Marine and establishment of subsidiaries in Latvia

Start of construction works on the Blue Marine and establishment of subsidiaries in Latvia

AS Pro Kapital Grupp announces the start of construction works of the Blue Marine residential building – the next phase in the development of the prestigious Klīversala Quarter in Riga.

Located on a nearly five-hectare land plot within the UNESCO heritage protection area, Klīversala Quarter stands out for its exceptional location on the banks of the Daugava River and by Āgenskalns Bay.
Blue Marine, named after its proximity to the river and the neighbouring yacht port, reflects a quietly luxurious lifestyle. It is a 7-storey residential building comprising 96 thoughtfully designed apartments ranging from 1-5-room layouts. As the next step in the Klīversala Quarter development, Blue Marine will be an integral part of this urban ensemble, blending contemporary architecture, high-quality materials, and a well-considered green living environment. The project aims to provide a refined and sustainable living experience, supported by energy-efficient solutions and timeless design. The development also includes an underground parking facility and a spacious landscaped courtyard surrounding the building.
The architectural concept of the building has been designed by Aivars Kagainis, lead architect at Project Office Grietēns and Kagainis, a firm recognised for its modern, functional, and detail-focused architecture. Interior design is provided by Jana Korolova and Andrey Korolyov, ensuring timeless aesthetics and comfort. 

For the implementation of the project, the Group established two subsidiaries in June 2025:

SIA Pro Kapital Latvia Engineering, responsible for construction project management in Latvia.
The share capital of SIA Pro Kapital Latvia Engineering is EUR 5 000, which upon the establishment of the company belongs 100% to SIA Pro Kapital Latvia. The members of the management board of the new company are Edoardo Axel Preatoni, the CEO of AS Pro Kapital Grupp and Martins Kusins, the management board member of AS Pro Kapital Latvia.

SIA BM Klīversala, established for the purpose of developing the Blue Marine project.
The share capital of SIA BM Klīversala is EUR 2 600 000, which upon the establishment of the company belongs 100% to SIA Kliversala. The members of the management board of the new company are Edoardo Axel Preatoni, the CEO of AS Pro Kapital Grupp and Martins Kusins, the management board member of AS Pro Kapital Latvia.

The establishment of subsidiaries does not have a significant impact on the economic activities of AS Pro Kapital Grupp (the issuer). AS Pro Kapital Grupp shall inform the investors through the Stock Exchange system additionally when further decisions have been made regarding the project.

Edoardo Axel Preatoni
Member of the Management Board
Phone: +372 614 4920
e-mail: [email protected]