Swisscom, the leading Swiss telecommunications provider and software developer, has entered into a lease agreement with Riga’s greenest office complex VERDE, becoming its first anchor tenant. Under the agreement, Swisscom will take on lease a 1,500 m2 large floor from the summer 2022 that will grow into three floors in the size of nearly 4,000 m2 with a 200 m2 large private terrace from summer 2024. This means that the Swisscom office in Riga, which currently is 440 m2 large, will grow tenfold in the next two years.

Swisscom, the largest telecommunications provider and one of the leading IT companies in Switzerland, announced already in late 2020 a plan to set up its second DevOps center outside Switzerland in Riga by 2025, investing up to EUR 20 million in the project. The company has set an ambitious goal to create one of Europe’s leading technology development centers in Riga.

“The choice in favor of VERDE office complex is logical and natural. Firstly, because we can grow together with VERDE. According to our growth strategy 2025, we make annual plans for the size of our team. Our team will increase from 40 to 120 employees this year, to 200 employees in 2023 and to 280 employees by the end of 2024. Here, we will be able to gradually grow along with the development of the office complex. Secondly, sustainability is one of Swisscom’s strategic priorities, with another challenging goal to achieve net zero carbon dioxide emissions by 2025. In that respect, our values correspond with VERDE’s values, and we see that together we will be able to attain that goal. And thirdly, the location and infrastructure of VERDE perfectly meet our needs as a company and employees,” says Elīna Branta, Swisscom DevOps Center Latvia Product Manager.

“Although the Covid-19 pandemic has significantly affected our habits and work arrangements, the world’s leading IT, financial and other companies see their future development largely in connection with the creation of an attractive, flexible and cooperation-oriented work environment for their employees. We will provide amenities exactly of this type in combination with a private 200 m2 terrace to one of the fastest-growing IT companies in Latvia – Swisscom,” comments VERDE Commercial Director Iveta Lāce.

“Since the summer of 2021, the office market has gained momentum in Riga and other Baltic capitals. Many companies have already developed a strategy for their future work model, which envisages changes in the functionality of the premises to adapt to hybrid work – both in office and remotely. We have noticed that tenants become more and more demanding in regard of the quality, sustainability and indoor climate of the office space. New entrants to the market – financial, IT, professional services companies, and start-ups, as well as global business services companies are considering Riga as their home with great interest. In this respect, VERDE's modern and green offices in the center of Riga are a convenient and strong foundation to build the office of the future that can adapt to the business needs,” adds Ēriks Bergmans, Partner and Head of Colliers Baltics. 

“The arrival of a prominent international tenant focused on employee welfare and sustainability justifies our strategic direction to offer the highest class and greenest offices in the city to the high potential Riga market. Swisscom’s recognition will undoubtedly catalyse the arrival of other tenants, and we are currently in extensive negotiations with companies looking to settle in Verde. We expect successful results soon,” says Andrius Barštys, CEO of Capitalica Asset Management.

As reported, the leasable space of the two VERDE buildings will be 30 000 m2, and the total floor space, including an underground parking facility, which has been built already, will be 47 000 m2. Each of the 11-floor buildings will have superbly greened 600 m2 large terrace with outdoor workplaces, as well as other amenities, which will improve productivity and wellbeing of the employees working there. The first, or A building, will become the first and only A class office building to open in June this year in Riga. The opening of the B building is scheduled for May 2023. 

VERDE office complex, commissioned by its developer Capitalica Asset Management, is being built under the leadership of Notus Developers, a subsidiary of SBA Group. Colliers, the leading real estate agency in Latvia, is the exclusive leasing representative of VERDE. The project’s general contractor is LLC Velve. Total investments in VERDE office are planned at more than EUR 65 million, and it will be the first project implemented by Capitalica Asset Management in Latvia.