Riga Office Market, 2021 Q1

DEVELOPMENT CONTINUES IN RIGA RIGA OFFICE MARKET, 2021 Q1 SUPPLY 2021 Q1 2021F OFFICES FILL UP. Origo One is almost full Z-TOWERS GETS BETTER. Z-Towers ANOTHER LARGE DEVELOPMENT. SBA less than a year after its commissioning. has begun fitting out fully equipped Urban has purchased a 7.3 ha land plot in Total Stock 750 500 m2 758 000 m2 The largest tenants of this modern office premium offices, offering space with Riga between Lielirbes and Ventspils building in a very convenient location two, four and six working spaces. The Streets. The company plans to develop New Area Q/Y – 7 500 m2 include Hili Properties, Colliers total area allocated for such offices is 120 000 sqm of office, residential, retail, International, LETA, TVNET grupa, Enlabs 700 sqm. recreation, science and education Group, The Soul Publishing, Narvesen & facilities. Construction works are VACANCY 2021 Q1 2021F Caffeine, and others. Additionally, more than a million scheduled to start in early 2022. euros will be invested in the high- Meanwhile a second entity of the SBA Class A 17.7% 17.0% NEW PLAYER. NEW OFFICE. In the heart class Z-Towers restaurant – Tauro. group, Capitalica Asset Management, is of the city, just opposite Origo One, Special attention is being given to continuing its development of VERDE. Total 15.2% 14.5% Estonian developer Novira Capital has design, furnishings and the ventilation begun the construction of a new business system to ensure an excellent setting Preses Nama Kvartals TAKE-UP 2021 Q1 2021F centre, the Novira Plaza. The plan is to for gastronomic pleasure. Both the deliver 20 000 sqm of high-class LEED equipped offices and the restaurant 4 500 m2 16 000 m2 Gold-certified office space in the summer will be available in summer 2021. of 2023. Novira Capital has developed Area several new projects, including 4 large VARIOUS DIRECTIONS, ONE office buildings in the centre of Tallinn Total and more than 300 high-class DESTINATION. Intensive planning apartments. work currently takes place at Preses AN \"ICON\" IN THE CENTRE. Baltic RE RENT RATES, 2021 Q1 CLASS A CLASS B Group is continuing renovation work at Nama Kvartals, ensuring city is Raina Boulevard 25. The large glass walls 14-18 ¤ 9-16 ¤ and windows of the Icon, as it has been complemented with an exceptional named, will offer a great view of the Riga 2020 2021F Channel and the Old Town on one side of piece of architecture. Besides the building and of Vermanes Garden on -3.6 % 3.1 % the other. It is a city centre building but spacious hotel, retail premises and a 8.1 % 8.4 % with a touch of the silence which the 6.2 % 6.5 % heart of this city can offer. football field on the roof, an 11-floor ECONOMIC INDICATORS class A office building is designed. It GDP will be located along the Valdemara Unemployment Wages street with a BREEAM certification and an energy consumption level close to zero. First stage delivery, including an office building, is planned in 2023. Source: Statistics Latvia, AS Swedbank FOLLOW US www.newsec.lv