First building of the Verde office complex has been commissioned
In the development of the Verde office complex, the greenest in Riga, the most significant development point has been reached so far – the construction of the first or A building has been completed and it has been commissioned. Thus, the developer of the complex – SBA Group’s Capitalica Asset Management, has implemented the first part of its first investment project in the Latvian capital, the total value of which will reach more than EUR 65 million. At the same time, this new building has become the first and so far the only A-class office completed in Latvia in 2022.
"We started the project in November 2020, and as we originally planned, the first tenants will move into the complex already this summer. This eleven-story A-class office building is located on a 1.3-hectare plot of land in the most promising area of the modern Skanste business block, at the intersection of Hanzas and R. Hirša streets. Verde building, From sustainable architecture and energy-efficient management solutions to abundant greenery in the adjacent territory makes Verde indeed the greenest office complex in Latvia," emphasizes Andrius Barštys, CEO of Capitalica Asset Management.
The client's idea of "green" commercial spaces was facilitated by the recognized Latvian architects Andris Kronbergs and Jānis Zvejnieks from ARHIS Architects, and landscape architect Linda Zaļā from Zala Landscape Architects. The structural engineer of the complex is Matīss Apsītis from Arenso. The technical construction supervision of the construction was carried out by Forma 2. The BREEAM "Excellent" level certification is in the process, and its evaluator is VESTA Consulting. The manager of the construction process of the object is Notus Developers, a subsidiary of SBA Group, and the general builder of the project is the construction company Velve.
Colliers, which is currently the exclusive leasing partner of Verde, will take care of the management of the building. Furthermore, additional comfort in everyday business matters will be provided by the modern on-line management platform Pingin, which will be available for the first time in Latvia at the Verde office complex.
Looking back on what has been completed, the board chairwoman of SIA Velve Vineta Verika explains: "For the company, this has been one of the most exciting and complicated development plans in recent years. In the construction of the A building of the office complex, we have used 20,000 m3 of concrete and constructed facade glazing on an area of 7,000 m2. In addition, almost 10,000 plants have been planted during the greening works. Furthermore, the entire construction process, in the implementation of which we have also involved about 100 subcontractors and suppliers, was coordinated and carried out in accordance with the strict requirements of the BREEAM standard "Excellent" certification level for sustainable construction. We are pleased that, despite the difficult conditions that the construction industry is currently experiencing, we have managed to ensure the construction of this building in the highest quality."
The total area of building A (11 floors, underground parking and yard) is 22,000 m2, and the leasable and common areas are 15,000 m2 in total. It is significant that at this moment the building's tenant composition is already 78 % complete, and several companies have almost finished furnishing their premises and are preparing to move in.
Sustainable engineering solutions and modern management
The first building of the Verde office complex is equipped with the highest quality heating, ventilation and air conditioning system for indoor climate control. The building has air purification solutions, air humidification systems, cold beams and CO2 sensors. That is why Verde meets class A energy efficiency and complies with nZEB, or almost zero energy building standards.
"VESTA Consulting is honored to be a part of such a project, especially noting the excellent cooperation between all parties involved. During the design and construction, a lot of attention is paid to the aspects of ecology and the comfort of the building's users. The greening of the project has been designed keeping in mind the concept of a city garden - many fruit trees that attract birds and increased biodiversity - bird cages, meadows, and greenery also on the terraces of the highest floors. At the same time, the trees in the area were protected during the construction, which Velve handled perfectly. Such solutions not only help combat the effects of climate change by reducing the so-called "heat island" effect, but also provide additional value to the users of the building by applying the best biophilia design principles. During the design process, passive design aspects such as solar exposure, the influence of prevailing winds on the thermal comfort of the building and the territory, and the use of daylight in the building were also analyzed. The results of the analysis were used in the design of building placement and facade solutions, which can also be seen after construction,’’ added Aļona Purvlīce, VESTA Consulting architect and chief sustainability consultant.
Riga’s greenest A-class offices
On the fifth floor of the building, there is a 600 m2 shared terrace for tenants, equipped with outdoor workplaces and lush greenery, including several 5-meter-high trees. The terrace offers a panoramic view of the Skanste neighborhood and the historical center of Riga. In addition, tenants will be provided with such additional services that facilitate their productivity and well-being, such as a spacious atrium with a reception desk, a shared kitchen with a coffee corner, shower rooms next to the bicycle stands, a conference center with a capacity of up to 60 people and other A-class level extras.
Employees and other visitors of the A building are already greeted by lush greenery throughout the area - new fruit trees, shrubs and perennial flowering plants, as well as older trees that have been purposefully preserved and cared for throughout the construction period.
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. 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.
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 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, operating in real estate, furniture manufacturing, textile manufacturing, and investment management with about 5000 employees in the Baltics. SBA Group is developing a hi-tech campus in Riga, Lielirbes street as well as a residential district on Čakstes street.