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Published: 2023-01-23 07:00:00 CET
Capitalica Baltic Real Estate Fund I
Company Announcement

Tietoevry becomes the largest anchor tenant in building B of the Verde business center

Not only globally, but also in Latvia there is a developing trend – companies focusing on sustainability are choosing their offices only in energy-efficient Class A buildings that meet BREEAM standards. This has been the case also of IT company Tietoevry which has just become the largest anchor tenant of building B of Riga’s greenest office complex Verde. 

As both companies have agreed, a lease contract has been signed on the establishment of the office for Tietoevry Latvian branch on the 4th, 8th and 9th floors of Verde building B with a total floor space of 4,500 m2. The deal was concluded at the end of last year, becoming the largest office rent deal in Latvia in 2022. 

Iveta Lāce, Verde Commercial Director, says: “As Tietoevry arrives in Verde, Skanste – Riga’s newest central business district is even becoming the technology epicentre of the Latvian capital. Now and exactly here such a hub is developing that will promote economic activity and international attractiveness of the city and our country in general. I am truly glad that the development of this innovative company will take place in Verde. At the same time, I would like to note that building B, which is still in construction process, has already been rented by 68%.” 

The Latvian branch of Tietoevry is one of the country’s ICT export and innovation leaders with more than 1,100 employees who specialize in development of different IT systems and payment solutions for clients in Latvia, the Baltic states, and the world. Riga also houses Tietoevry corporation’s global Financial Services Centre and IT Services Centre. 

Valērija Vārna, Head of Tietoevry Latvian branch, underscores: “The team of our information technologies and financial experts on an everyday basis develops IT solutions for organizations and improves businesses in order to promote and create changes for better. At present we lay the foundation for our own growth for better. Moving our office to Verde business centre reflects our future goals and strategy – modern and possibly the best working environment for Tietoevry employees, as well as sustainable, competitive and innovative business solutions for clients and partners. We see a huge potential in Riga’s quiet centre and Skanste becoming the artery of the information technologies and financial sector in Riga.” 

It is planned that the new Tietoevry office in building B of Verde office complex will be opened in 2024. Meanwhile, 2023 will be devoted to development of the interior design by architects’ office ARHIS ARHITEKTI. 

Inese Plāte, Head of Tietoevry Baltic offices, notes: “Over the past years, the functions of offices and workplaces have changed considerably. We are confident that activity-based office with smart technologies will help to successfully continue our hybrid work model. The main criteria for selecting the new Tietoevry office were energy efficiency of the building, smart office management system and excellent air quality. Also, the green terrace, fast charging facility for electric cars, parking space for bicycles and other facilities are of the same importance, contributing to wellness of our employees and reducing the ecological imprint of our company.” 

Ēriks Bergmans, Colliers Latvia Partner and Head of Agency: “Tietoevry is a company with very high standards towards the wellbeing and productivity of their employees, brand awareness and sustainability. We are truly glad that Riga can now offer such Class A project as Verde that completely meets the highest international corporate standards. With exceptional attention to all the details paid, this deal is the largest office lease transaction of 2022 in Riga. The total leased area of Verde proves that new development projects at construction stage are becoming even more attractive for companies that choose sustainability, comfort and quality for their future development.” 

As reported, Verde is the first Capitalica Asset Management project in Latvia, in which more than EUR 65 million will be invested. The office complex is being built under the leadership of Notus Developers, a subsidiary of SBA Group. The project’s general contractor is Velve, and exclusive leasing and management partner – Latvia’s leading real estate agency Colliers. So far, tenants of the office complex include such companies as Swisscom, Decta, KPMG Latvija, Swetch, Merito Group, Workland, Enefit, VIA SMS Group, Veselības centrs 4 and Tietoevry. 


About “Verde”

Verde (www.verde.lv) 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 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.

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 Janis Zvejnieks (Arhis Architects), applying Class A energy efficiency and smart building management solutions.


About “Capitalica Asset Management” and “SBA Group”

Capitalica Asset Management (www.capitalica.lt) is an investment management company licensed and supervised by the Central bank of Lithuania and is managing investment funds investing in commercial real estate in the Baltic States. Capitalica Baltic Real Estate Fund I, managed by Capitalica Asset Management, owns office complex Verde in Riga, the business center 135 in Vilnius, the business center Kauno Dokas in Kaunas, and the shopping center Luizė in Klaipėda. Capitalica Z114 Real Estate Fund currently manages an office and warehouse complex, and in the future plans to develop a new Class A business center on Žalgirio st. in Vilnius. Capitalica Green Logistics Fund owns 3 logistic complexes, two in Tallinn and one in Riga. The controlling stake (70%) of Capitalica Asset Management is held by SBA Group, one of the largest Lithuanian business groups, and another 30% is owned by A. Barštys' (CEO of Capitalica Asset Management) company Fox Holdings.      

SBA is one of the largest Lithuanian capital business groups. It consists of more than 30 companies operating in real estate, furniture manufacturing, textile manufacturing, and investment management. The group employs around 5,000 people. Consolidated sales in 2021 amounted to EUR 404.6 million. 

         For more information:
         Andrius Barštys
         CEO of Capitalica Asset Management
         +370 612 30260