Verde expands as demand surges: 30% of new space already reserved in Riga’s leading business district

Riga’s greenest business district Verde proceeds with its second development phase in the Skanste area. Developer Capitalica Asset Management has completed 85% of the underground part for Building C and will soon start construction of Building D.

Having completed and fully leased Verde’s A and B buildings in 2022-2023, Capitalica continues the project with two additional A-class office properties in one of Riga’s fastest-developing, yet central and premium areas.

Construction company Capitalica Industries announces that 85% of the underground works for Building C are now complete, and the project has moved into first-floor works. Also, the company is actively preparing to begin construction of Building D in the near future.

Iveta Ardava, Commercial Director of Verde, comments that one third of Building C’s leasable area has already been reserved, underscoring the strong demand for premium, sustainable office space in Riga. The company has also made a strategic move to redesign some of Verde’s floor plans to offer a limited number of smaller office spaces - a rare opportunity in the Riga market. 

“Such flexibility is uncommon in A-class developments and offers businesses the chance to operate in a modern, sustainable work environment without committing to large-scale premises. Companies are no longer choosing just office space - they are choosing an environment and a community. Verde has evolved into a premium business ecosystem where tenants actively seek to be part of a like-minded network that values sustainability, quality and forward-thinking development,” says Ardava. 

Andrius Barštys, Chairman of the Board of Capitalica Asset Management, adds that Verde is already a landmark in Riga. Consequently, the continued development of Verde further strengthens its position as one of Riga’s most recognisable and future-oriented business destinations.

“With the completion of Buildings C and D, it will evolve into a fully-fledged business district that will continue to impress with its green solutions, including expansive rooftop parks offering a unique experience above the city,” Barštys states.

Buildings C and D will feature over 3,000 sqm of rooftop gardens, creating green spaces above the city. The project is targeting BREEAM Outstanding certification and integrates energy-efficient engineering solutions and responsible resource management, ensuring both strong environmental performance and long-term value for tenants and investors. The combined gross leasable area of Verde’s C and D buildings will amount to 22500 sqm.

The architectural design of Buildings C and D has been developed by the Latvian architecture firm ARHIS ARHITEKTI, the company behind the first two buildings. Capitalica Asset Managmenet has chosen Colliers Baltics as its leasing management partner.

Once completed in 2028, the Verde district will offer a total of 50,000 sqm of office space across four buildings, combining modern architecture, sustainability-driven solutions and a vibrant tenant community.

The first two Verde buildings already host companies such as KPMG, Tietoevry, Swisscom, Workland, Worldline, Also Cloud, Enefit and dozens of others.