{"id":6731,"date":"2025-06-13T09:46:09","date_gmt":"2025-06-13T09:46:09","guid":{"rendered":"https:\/\/capitalica.lt\/?p=6731"},"modified":"2025-06-13T09:47:16","modified_gmt":"2025-06-13T09:47:16","slug":"capitalica-asset-management-launches-verde-expansion-investing-over-70-million-euros-to-build-the-greenest-business-district-in-latvia","status":"publish","type":"post","link":"https:\/\/capitalica.lt\/en\/capitalica-asset-management-launches-verde-expansion-investing-over-70-million-euros-to-build-the-greenest-business-district-in-latvia\/","title":{"rendered":"Capitalica Asset Management launches Verde expansion \u2013 investing over 70 million euros to build the greenest business district in Latvia"},"content":{"rendered":"\n

Information for the mass media, Riga, June 11, 2025<\/p>\n\n\n\n

Capitalica Asset Management, a licensed investment management company, is reinforcing its long-term growth strategy in Latvia by investing over 70 million euros into the development of the third and fourth stages of the Verde office complex \u2013 buildings C and D (in Riga, Hanzas iela 14F). This phase is led by the Capitalica European Office Fund, which specializes in sustainable office projects across the Baltics. <\/strong>On 10 June of this year, approval for the minimal composition project was received from the Urban Development Department of the Riga City Council.<\/strong><\/p>\n\n\n\n

Andrius Bar\u0161tys, Chairman of the Board of Capitalica Asset Management: \u201c<\/strong>Verde is our long-term vision of a sustainable, human-centric and future-ready office complex at the gateway to Riga’s emerging business district in Skanste. A place where modern architecture, nature and vibrant business come together. The full leasing of our first two buildings in just three years speaks volumes \u2013 hosting 27 forward-looking international and local companies, Verde has proven the strength of our concept: A-class offices in a prime location, infused with a green mindset. It also highlights the resilience and potential of Riga\u2019s real estate market. Now we are taking the next step \u2013 expanding with two new buildings that will strengthen Verde\u2019s leadership in Rigas\u2019s office segment and transform it into the greenest business district in Latvia.<\/em>\u201d<\/p>\n\n\n\n

Once complete, Verde will solidify its status as Latvia\u2019s greenest business district<\/strong>, offering a total of more than 50,000 m\u00b2 of A-class leasable office space and supporting a modern work environment for up to 5,500 professionals. The total investment in Verde across all development phases will amount to approximately 150 million euros.<\/p>\n\n\n\n

Buildings C and D will add 37,000 m\u00b2 of new<\/strong> space to the Verde complex, including 22,500 m\u00b2 of A-class leasable office area. Developed on a 1.1-hectare site, each building will span six above-ground floors and include an underground parking facility for 250 vehicles, along with more than 100 bicycle parking spaces. These additions are expected to generate over 2,500 new workplaces, further strengthening Verde\u2019s position as one of the most attractive and functional business districts in Riga.<\/p>\n\n\n\n

Sustainability will remain one of Verde\u2019s core priorities going forward.<\/strong><\/p>\n\n\n\n

Both buildings will feature rooftop gardens with a total area of 3,000 m\u00b2 \u2013 green oases offering panoramic views of the landscaped courtyard between Verde buildings A and B, as well as Riga\u2019s historic and Quiet Centre. These gardens will promote urban biodiversity and enhance employee well-being. In addition, rooftop solar panel installations will contribute to increased energy efficiency. The construction of both buildings is planned in accordance with the highest BREEAM sustainability certification standards.<\/strong><\/p>\n\n\n\n

In parallel, there are plans to restore two historic buildings located within the development site – part of the UNESCO-listed Historic Centre of Riga. These restorations aim to preserve each building\u2019s original character while introducing new functional uses that complement the district\u2019s contemporary vision and enrich the area\u2019s architectural and cultural value.<\/p>\n\n\n\n

Two new buildings \u2013 available for lease today<\/strong><\/p>\n\n\n\n

Office spaces from 100 to 2,000+ m\u00b2 are available for pre-lease, with options for open-plan, individual office, or hybrid layouts. Spaces can be customized with quiet zones, kitchens, meeting rooms, and relaxation areas tailored to each tenant\u2019s needs and company culture.<\/p>\n\n\n\n

Strategic partners<\/strong><\/p>\n\n\n\n

The architectural concept is developed by award-winning architects Andris Kronbergs and J\u0101nis Zvejnieks from ARHIS Architects. The general contractor is Capitalica Industries, a Capitalica Asset Management group company, which successfully delivered Verde B. The exclusive leasing partner for the new development stages is Colliers Baltics.<\/p>\n\n\n\n

Development Timeline<\/strong><\/p>\n\n\n\n

The development of the third and fourth phases of Verde<\/strong> began in August 2024 with the acquisition of the land designated for the upcoming stages. On 10 June 2025, the Urban Development Department of the Riga City Council approved the minimal composition project. The building permit is expected to be issued, and construction works are scheduled to begin by the end of this summer. Construction of Building C<\/strong> is planned to be completed by December 2026, with tenant move-in expected in March 2027. Building D<\/strong> is scheduled to be commissioned by the end of 2027, enabling tenant move-in to begin in May 2028.<\/p>\n\n\n\n

Investment opportunities<\/strong><\/p>\n\n\n\n

As part of the development of buildings C and D, Capitalica Asset Management<\/strong> is open to cooperation with new investment partners. Investors can join the Capitalica European Office Fund<\/strong> with a minimum investment of EUR 125,000 and benefit from an expected annual return of 12\u201315%. By taking advantage of this investment opportunity, investors become part of a strategically important, future-oriented project. It is an opportunity to invest in high-quality, sustainable, and professionally managed real estate development \u2013 a project driven by long-term vision and proven expertise.<\/p>\n\n\n\n

About Capitalica Asset Management and SBA Group<\/strong><\/p>\n\n\n\n

UAB Capitalica Asset Management (www.capitalica.lt<\/a>) is a licensed investment management company supervised by the Bank of Lithuania, with its bonds listed on the Nasdaq exchange. Capitalica Asset Management manages investment funds focused on commercial real estate and private debt instruments in the Baltic region:<\/p>\n\n\n\n