The office complex "Verde" has been awarded the BREEAM "Excellent" level

  • 2023-07-13

The A building of the greenest office complex in Riga, "Verde," has been awarded the "Excellent" level according to the BREEAM International New Construction standards. BREEAM, internationally recognized as a certification for sustainable buildings, establishes and measures sustainability indicators to ensure that projects align with sustainability goals. The "Excellent" level signifies that the construction of the building follows industry best practices 

"At the inception of “Verde”, we set an ambitious goal of developing the greenest offices in Riga. Receiving the BREEAM certification validates that our words match our actions. This is a testament to the cohesive and purposeful work of the project's creators and implementers, aiming to set new environmental standards for the surroundings where sustainable development is already at a high level," comments Andrius Barštys, CEO of "Capitalica Asset Management".

BREEAM assesses a wide range of indicators, including reduced carbon emissions, low-impact design, climate change adaptation, ecological value, and biodiversity protection. The A building of "Verde" has been assessed across all BREEAM categories, with special attention given to "Energy", "Water," and "Waste" categories. Recognizing the significance of these resources not only in the building's operation but also during the construction phase, stringent measures were implemented, and only high-quality equipment was installed to ensure responsible resource utilization.

However, the highest rating was achieved in the "Transport" category, where the building received all possible credit points due to its accessibility to various alternative modes of transportation. For instance, cyclists are provided with convenient changing rooms and showers, while owners of electric vehicles can find multiple charging stations.

Significant emphasis was also placed on ecological features, whereby in collaboration with ecologists, landscape designers, ornithologists, and beekeepers, a diverse habitat was created. More than 50 birdhouses and beehives were installed to support other species thriving in this urban environment.

"We are very pleased with our collaboration with “Capitalica Asset Management”, the developer of “Verde”. Together, we have developed and certified several projects, both with BREEAM New Construction and BREEAM In-Use. “Capitalica Asset Management” is deeply committed to finding solutions for green development, thus we have jointly developed a sustainability strategy for further company growth. We are particularly proud of the example the developer sets in the field of sustainable development in Riga, and hope that more institutions and companies will follow this example to collectively create a greener future," adds Kristian Ivan Hrgetic-Vītols, architect and BREEAM sustainability consultant at "Vesta Consulting".

About Verde

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, 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. In the competition "Sustainability in Architecture, Construction and Design 2020", Verde was ranked among the most sustainable projects, and at the BREL Forum 2022, Verde was voted Project of the Year both by the jury and people. 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 ( 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 a warehouse complex and plans to develop a new A class business center on Žalgiris Street in Vilnius. Capitalica Green Logistics Fund owns 4 logistics complexes – two in Tallinn, and two 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 multi-business groups, operating in real estate, investment management, as well as furniture and textile manufacturing. The group employs around 5,000 people in the Baltics. Consolidated sales in 2021 amounted to EUR 404.6 million. SBA Group develops a high-tech village on Lielirbes Street in Riga, as well as a residential quarter on Čakstes Street.