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68% of the second building at the VERDE office complex leased, topping-out celebrated

Several important milestones have been reached in the development of Riga’s greenest office complex VERDE. The leased area has significantly increased – in Building A it has already exceeded the 80 percent mark, and in Building B it is close to 68 percent. Meanwhile, a topping-out ceremony has been held for Building B by putting the symbolic crown atop its roof. It means that the construction of the second building’s supporting structure has been completed and work will soon begin on waterproofing the roof. Just like the first building, the second building has 11 stories and it has been constructed using over 3,000 tons of reinforcement and 12,000 cubic meters of concrete. 


At present, general construction works are ongoing at Building B, with engineering works like installing electrical wiring and a cooling system going on inside the building. Other engineering networks will also be provided soon. Meanwhile, construction processes necessary to prepare the buildings for work in winter conditions are nearing completion.


Iveta Lāce, VERDE Commercial Director: “A year has passed since we announced the launch of construction of Building B. As far as construction is concerned, it has been a challenging time, but we coped with everything successfully, for which we are thankful to everyone involved in the construction process. At the same time, intensive work continued during this year to attract tenants. As a result, 74 percent of the office complex has been leased already. Undeniably, in the current economic situation, a decision to open a new office requires courage and resolve even for the strongest companies. We will therefore support our existing and future tenants as much as we can, providing them with modern and energy-efficient premises for the growth of their businesses and the well-being of their employees.”


VERDE office complex, commissioned by its developer, SBA Group company Capitalica Asset Management, is being built under the leadership of Notus Developers, a subsidiary of SBA Group. The project’s team of architects includes Andris Kronbergs and Jānis Zvejnieks from ARCHIS ARHITEKTI in collaboration with the architect bureau AROUND and landscaping bureau ZALA LANDSCAPE ARCHITECTS. Building structures are being designed by ARENSO, Forma 2 provides construction supervision and the project’s general contractor is one of Latvia’s leading construction firms Velve.


Vineta Verika, CEO of Velve: “We celebrated the topping-out at Building B of the VERDE office complex in a special atmosphere. For the construction industry, this year has been full of challenges not only in Latvia but all over the world. Therefore, on behalf of our company, I would like to thank the project’s developers and other cooperation partners for the excellent work they have been doing together so far.”


As reported, the investments in the development of the VERDE office complex exceed EUR 65 million. To date, its tenants include companies like Swisscom, Decta, KPMG Latvija, Swetch, Merito Group, Workland, Enefit, VIA SMS Group and Veselības Centrs 4, among others. The exclusive rent and management partner of “VERDE” is the leading Latvian real estate agency Colliers. The first building, which was completed in the summer of 2022, became the only A-class business center to open in Latvia this year. The second building is scheduled for completion in a year.


About “Verde”

Verde ( will be the greenest A-class office complex at the Skanstes area in Riga (R.Hirša Street 1a), the place opposite the Latvian Fire Fighting Museum, and the only A-class office complex the first stage of which will be commissioned in June 2022. The Verde office complex comprises two office buildings with a total leasable area of 30 000 m2 (45 000 m2 together with an underground parking area). Verde has been developed in line with BREEAM Excellent and the nZEB (nearly Zero Energy Building) standards. The special feature of Verde will be incomparable greenery on 600 m2 large terraces with trees and plants on each of the buildings and green outdoor workspaces in the yard. In the competition “Sustainability in Architecture, Construction and Design 2020”, Verde was ranked among the most sustainable projects, and at the BREL Forum 2022, Verde was voted Project of the Year both by the jury and people. Verde embodies its green thinking in a sustainable and contemporary architectural solution designed by Latvian architects Andris Kronbergs and Janis Zvejnieks (Arhis Architects), applying Class A energy efficiency and smart building management solutions.

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