One of the Lithuania’s leading investment management companies “Capitalica Asset Management” has made a positive decision on construction of the second building of Riga’s greenest office complex “VERDE”. This decision was stimulated by high interest of potential tenants on relocation of their local and international businesses to the first building of “VERDE” complex that will become the only A class office building built in Latvia in 2022 and will be opened in June.

“Riga has the least saturated supply of modern office buildings compared to Vilnius and Tallinn, and there are even fewer “green” offices. Therefore, from the very start, we decided to build two VERDE buildings that have already received the sustainability award, BREEAM Excellent and nZEB certificates during the design stage. We laid the foundation and started building the first floor of the second building, including the underground car park connecting both buildings already last summer simultaneously with construction of the first building. The final decision on further construction of the second building was made at the end of the year. We are confident – two VERDE buildings in the modern Skanste district will bring a double contribution to development of the Latvian capital and attraction of other investments,” said Andrius Barštys, “VERDE” investor and developer, CEO of “Capitalica Asset Management”.

The leasable area of the second building will be almost 15,000 m2, and its commissioning is planned in May 2023. Like the first building, also the second one will have 11 floors, a terrace of 600 m2 with rich greenery and outdoor workplaces, as well as other extras that will promote productivity and ensure wellbeing of the employees working there.

As reported earlier, the total area of the office complex “VERDE” will be 45,000 m2. The construction process is managed by “SBA Group” subsidiary “Notus Developer” at the commission of the project developer “Capitalica Asset Management”, while the general contractor is construction company “Velve”. In total, more than EUR 65 million will be invested in the project, and it will be the first project implemented by “Capitalica Asset Management” in Latvia.

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, where Skanstes Street intersects with Hanza Street, and the only A-class office complex the first stage of which will be opened in the first half of 2022. The VERDE office complex comprises two office buildings with a total leasable area of 30 000 m2 (45 000 m2 together with underground parking area). VERDE has been developed in line with BREEAM Excellent and the nZEB (nearly Zero Energy Building) standards. VERDE has been ranked among the most-sustainable projects in the competition “Sustainability in Architecture, Construction and Design 2020”.

VERDE embodies its green thinking in a sustainable and contemporary architectural solution designed by Latvian architects Andris Kronbergs and Jānis Zvejnieks (Arhis Architects), applying Class A energy efficiency and smart building management solutions. 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. According to latest studies, scientists have proved that relaxing terraces, greenery, modern air ventilation systems, smart lighting and wise office planning, different conveniences and other Class A services improve well-being and productivity.