Workland expands coworking centre at Verde office complex by almost 50%

 As the popularity of eco-friendly coworking offices continues to increase, the leading flexible office space solutions company Workland has decided to further expand its operations in Latvia. The company has agreed with Riga's greenest office complex Verde to expand the Workland centre there by almost 50%. The deal between the two companies will see Workland Verde's total area increase to almost 2,200 m2 at the beginning of 2024, taking up not only the entire second floor of Building A, but also a part of the third floor. 

Workland Verde is currently located on the 2nd floor of Verde building complex, the expansion will increase the total space to 2200 m2 and will cover part of the 3rd floor.
The layout and design of the new space will feature the most sought-after solutions for private offices with 1 to 4 workstations, as well as cosy common areas, including meeting rooms equipped with modern technology, smaller rooms for individual meetings and videocalls, a lounge and a dining area.

"Our decision to expand at Verde is multi-faceted," says Indrek Hääl, Founder and CEO of Workland. "From its strategic location to its eco-friendly amenities, Verde offers the ideal environment for our growing clientele. In light of the current economic trends, where companies are downsizing traditional offices and seeking more flexible options, our expansion is timely. It's not just about offering a space; it's about fostering a community. In a world where remote work is becoming the norm, the sense of community that Workland provides is more crucial than ever. We're not just scaling square footage; we're scaling opportunities for connection and collaboration."

The expansion of Workland in Verde is already generating significant interest, with close to half of the new spaces prebooked ahead of completion.

Verde Commercial Director and Board Member Iveta Lāce: “If somebody would ask me why I recommend a new or small company to become a member of Workland Verde coworking centre, I would say that is because I have been a client of this company for almost a year! It is a very inspiring and functional environment where you can not only work productively, but also make new business contacts. Furthermore, it has a great atmosphere as anyone who wishes can bring their dog to work. In addition, air quality is excellent here at Workland offices as they, just like at those of all other Verde tenants, are equipped with the most innovative ventilation systems. That is why I am confident that the new Workland Verde coworking centre will also be in high demand.”  

At the moment, most of the private offices and at least half of the co-working areas at the first Workland Verde centre have been rented out. The company's client base is very broad, including, but not limited to, financial experts, new energy companies, lawyers, designers, advertising agencies, professional athletes' representatives (the new basketball club Rīgas Zeļļi), governmental and non-governmental agencies, property developers.

As reported, Verde is the first project developed by Capitalica Asset Management in Latvia, with investments in the project exceeding EUR 65 million. Verde was built under the leadership of Notus Developers, a subsidiary of SBA Group. The project’s general contractor is Capitalica Industries, while Latvia’s leading real estate agency Colliers is the exclusive lease and management partner. The office complex’s tenants already include companies like Swisscom, Decta, KPMG Latvia, Swetch, Merito Group, Workland, Enefit, VIA SMS Group, Tietoevry, restaurants Dia 36.line and Mollto. 

About Workland Group

Workland Group is the largest network of coworking premises in the Baltics with 16 centres, of which two – Telegraph and Verde – are located in Riga, five in Tallinn, three in Helsinki, five in Vilnius and one in Kaunas. BaltCap, the largest private capital investor in the Baltics, together with the company’s founder and management is the key shareholder of Workland. 

About Verde

Verde (www.verde.lv) is the greenest office complex in Riga, located at the beginning Skanstes Quarter (1a R.Hirša Street), and the only A-class office complex in Latvia, the first stage of which was opened in summer 2022, but the second stage will be opened in spring 2024.. Verde complex comprises two office buildings with a total leasable area of 30,000 m2 (total floor space with underground parking lots – 45,000 m2). The complex has been developed in line with BREAM Excellent and the nZEB (nearly Zero Energy Building) standards. The unique signature of Verde is superb greenery on large 600 m2 terraces with trees and other plants in each building, as well as a green backyard. The “green thinking” of Verde is embodied in the sustainable and modern architectural solution by award-winning Latvian architects Andris Kronbergs and Jānis Zvejnieks (ARHIS Architects) and brought to life by A-class energy efficiency and smart building management solutions. “SEB Bank” has financed the construction of the office complex "Verde," providing a 60 million euro loan for a five-year period to the investment management company "Capitalica Asset Management," a subsidiary of the project-executing group "SBA Group."

About Capitalica Asset Management and SBA Group

Capitalica Asset Management (www.capitalica.lt) is an investment management company licensed and supervised by Central bank of Lithuania (founded in 2016) which manages commercial real estate in the Baltic States. The controlling stake in the company belongs to one of the largest Lithuanian business groups SBA (70%) and Andrius Barštis’s company Fox Holdings (30%). The company’s bonds are quoted in Nasdaq exchange and the total value of assets currently under management is almost 200 million euros. Capitalica Asset Management manages 4 funds. Capitalica Baltic Real Estate Fund I owns 4 objects: office complex Verde in Riga, business centre Žalgirio 135 in Vilnius, business centre Kauno Dokas in Kaunas and shopping centre Luizė in Klaipėda. Capitalica Z114 Real Estate Fund manages an office and warehouse complex on Žalgirio Street in Vilnius, where a new Class A business centre “Sand Offices” will be developed. Capitalica Green Logistics Fund owns 5 sustainable logistics building complexes, three of which are located in Tallinn and two in Riga, and finally, the company also manages the new Capitalica European Office Fund. 

SBA Group is one of Lithuania's largest multi-industrial business groups involved in real estate, investment management, furniture manufacturing and apparel manufacturing business, with approximately 5,000 employees in the Baltic countries. The Group's consolidated turnover in 2021 amounted to EUR 404.6 million. SBA Group is developing a high-tech quarter on Lielirbes Street and a residential project on Čakstes Street in Riga.