Latvian investment company Merito Partners, together with real estate developer Landberg Latvija, has launched the AIRA residential development at 51 Graudu Street in Riga. MONUM has been awarded the contract to build the first phase of the project.

AIRA will be developed in two phases. Once completed, the complex will comprise four six-storey buildings with a total of 180 apartments, ranging from one to three bedrooms.

The first phase will include two buildings with 90 fully finished apartments. One-, two- and three-bedroom apartments will be available, with an average floor area of approximately 50 square metres. This phase will also provide 72 parking spaces.

The buildings are designed to achieve an A+ energy efficiency rating. They will feature underfloor heating, with solar panels installed on the roofs. The apartments will have 2.80-metre-high ceilings, large windows and functional layouts. The development will offer gated, landscaped grounds with a children’s playground, bicycle storage and video surveillance.