IT company Atea Global Services has signed an agreement with developer Vastint Latvia to lease office space in the Magdelēnas kvartāls quarter in the centre of Riga. According to the agreement, Atea Global Services will lease all available office space at 17 Antonijas Street, becoming the largest office tenant in the quarter. The new building is expected to be completed early next year, and the company will be able to move in as early as spring. In total, more than 550 employees will work in the new office space in the quiet city centre. To date, this is not only the largest office lease transaction in the history of Vastint Latvia, but also the largest transaction in the office segment in Latvia this year. Vastint Latvia is one of the largest real estate developers in Latvia. The company manages its own real estate portfolio and develops new office, hotel and residential projects. Vastint Latvia is a part of the Vastint Group. Magdelēnas kvartāls, which the company is developing, includes two office buildings at Antonijas Street 17 and 21, with restaurant and retail space on the ground floors. The first stage was completed six years ago and included 116 apartments and commercial space on the ground floor. Atea Global Services points out that, in line with modern trends in work schedule planning and the hybrid work mode popular among employees, the office of over 4,000 square meters on six floors should provide personal workspace for approximately 350 employees. This approach will allow the company to use the office space more efficiently, while providing the necessary flexibility. For some time, the team worked in two separate buildings. The change of office was a carefully considered decision that was made over several years, says Roberts Eberliņš, CEO of Atea Global Services. "The announcement of the planned move comes in our company's coming of age year, when we celebrate 18 years of doing business in Riga. This event also reflects the significant growth of the company over the years, which also led to the need for more space," he explains. Atea Global Services is part of the Atea Group, a leading provider of IT infrastructure in the Nordic and Baltic countries. The company operates in 88 cities and has more than 8,000 employees in Norway, Sweden, Denmark, Finland, Lithuania, Latvia and Estonia. "Atea supplies hardware and software from the world's leading manufacturers, as well as provides consulting and technical services to support customers in the development, implementation and operation of their IT environment. In 2023, the gross turnover of the Atea Group was approximately NOK 35 billion (EUR 3.1 billion), and the company's shares are listed on the Oslo Stock Exchange. Real estate consulting company Colliers Baltics acted as a consultant on the transaction.
The largest office lease deal in Latvia has been concluded
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