{"id":6876,"date":"2025-09-11T11:32:40","date_gmt":"2025-09-11T11:32:40","guid":{"rendered":"https:\/\/capitalica.lt\/?p=6876"},"modified":"2025-09-11T11:32:42","modified_gmt":"2025-09-11T11:32:42","slug":"green-light-from-riga-city-capitalica-asset-management-begins-construction-of-verde-c-and-d","status":"publish","type":"post","link":"https:\/\/capitalica.lt\/en\/green-light-from-riga-city-capitalica-asset-management-begins-construction-of-verde-c-and-d\/","title":{"rendered":"Green light from Riga City: Capitalica Asset Management begins construction of Verde C and D"},"content":{"rendered":"\n

Press Release<\/strong> 11<\/ins> September 2025<\/p>\n\n\n\n

Yesterday, 10 September, the Riga City Council\u2019s City Development Department has issued a building permit to investment management company Capitalica Asset Management<\/em> for the construction of the third and fourth phases of Riga\u2019s greenest office complex \u2013 Verde<\/em> \u2013 located at Hanzas iel\u0101 14F. This means that already in September, the first stage of development will begin \u2013 the 1.1-hectare site will be fenced, and preparation and zero-cycle construction works will commence.<\/strong> More than EUR 70 million will be invested in the new C and D buildings, which are designed to meet the highest BREEAM Outstanding<\/em> sustainability standards.<\/strong><\/p>\n\n\n\n

Andrius Bar\u0161tis, Chairman of the Board of Capitalica Asset Management<\/em><\/strong> emphasizes: \u201cObtaining the building permit for such a large-scale project as the new phases of Verde in just three months is far more than a formal step in the construction process. This significant milestone is a testament to our strong belief in Riga\u2019s future as a modern and internationally competitive business center in the Baltic region. With the upcoming C and D buildings, we are raising the bar for the entire office segment, introducing modern sustainability and architectural solutions in Latvia. Designed to achieve the highest BREEAM Outstanding certification, these buildings will not merely provide A-class office space \u2013 they will create an inspiring environment that encourages people, empowers companies, and establishes the greenest business quarter in Latvia.\u201d<\/em><\/p>\n\n\n\n

The C and D buildings will expand te Verde complex by 37,000 m\u00b2, including 22,500 m\u00b2 of leasable A-class office space and capacity for around 2,500 new jobs \u2013 further strengthening Verde\u2019s position as one of Riga\u2019s most modern and sustainable business district. The third phase is scheduled for completion in Q1 2027, followed by the fourth in Q2 2028.<\/p>\n\n\n\n

This development is being implemented by the Capitalica European Office Fund, which specializes in sustainable office projects across the Baltics. Once all phases are completed, Verde will offer more than 50,000 m\u00b2 of A-class offices for up to 5,500 professionals, with a total investment of approximately EUR 150 million \u2013 becoming the greenest business quarter in Latvia. <\/p>\n\n\n\n

Building permit \u2013 in record time: just in three months<\/strong><\/p>\n\n\n\n

The general contractor for the new phases is Capitalica Industries<\/em>, a company within the Capitalica Asset Management <\/em>group. The construction processes are coordinated by El\u012bna Str\u012bka, under whose leadership the design and approval of the C and D buildings with the responsible Riga authorities was recently completed at an exceptionally fast pace \u2013 in just three months from the approval of the initial project design.<\/p>\n\n\n\n

The architectural design of the C and D buildings was developed by Latvian architecture firm ARHIS ARHITEKTI<\/em> under the leadership of J\u0101nis Zvejnieks. Construction supervision will be carried out by Baltic Construction Consultancy<\/em>.<\/p>\n\n\n\n

J\u0101nis Zvejnieks, ARHIS ARHITEKTI<\/em>,<\/strong> highlights: \u201cThe Vibrant Vision of Verde is Venturing in the Valid Vector! Six \u2018V\u2019s describe what has been achieved \u2013 the project was approved and the building permit issued in just three months. Many thanks to the outstanding team \u2013 the client, 31 designer, experts, city engineers, the National Heritage Board, and the City Development Department \u2013 for their excellent collaboration during this active and strategically important period\u201d.<\/em> <\/p>\n\n\n\n

Unique features of the new Verde<\/em> buildings<\/strong><\/p>\n\n\n\n

Sustainability remains a top priority for Verde: the new C and D buildings will feature 3,000 m\u00b2 of rooftop gardens that promote biodiversity, enhance well-being, and offer panoramic views over Riga, while rooftop solar parks will boost energy efficiency. Both buildings will meet the highest BREEAM Outstanding standards. In parallel, two historic houses within the site \u2013 part of Riga\u2019s UNESCO-listed center \u2013 will be carefully restored, preserving their authentic architecture and cultural significance, while integrating them into a modern, sustainability-driven business environment that enriches the Verde district\u2019s identity. <\/p>\n\n\n\n

Office space available for lease \u2013 now<\/strong><\/p>\n\n\n\n

Office spaces in the upcoming Verde<\/em> C and D buildings are already available for lease \u2013 starting from 100 m\u00b2 up to 2,000 m\u00b2 on a single floor or across multiple levels. Tenants can customize layouts to suit their needs: open-plan, individual or hybrid workspaces. Premises can be equipped with quiet zones, modern kitchens, meeting rooms, and lounge areas. Leasing is managed by Colliers Baltics<\/em>. More information: https:\/\/verde.lv\/en\/verde-cd-buildings<\/a>. <\/p>\n\n\n\n

Opportunities for investors<\/strong><\/p>\n\n\n\n

With the development of the C and D buildings, Capitalica Asset Management<\/em> is open to cooperation with new investment partners. Investors can join the Capitalica European Office Fund<\/em> with a minimum investment of EUR 125,000 and benefit from an expected annual return of 12\u201315%. This is an opportunity to become part of a strategically important, future-oriented project by investing in high-value, sustainable, and professionally managed real estate. <\/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