In September of this year, IT company Atea Global Services and real estate developer Vastint Latvia signed an agreement with Atea Global Services for the lease of all available office space at 17 Antonijas Street, making it the largest office tenant in the quarter. The new building is expected to be completed by the beginning of next year, and after the fit-out of the premises, more than 550 Atea Global Services employees are set to move into the new office in Riga’s Quiet Centre in the following spring.
This is not only the largest office lease deal in Vastint Latvia’s history but also the biggest office lease transaction in Latvia this year.
Magdelēnas kvartāls is currently the only project under construction in Riga’s Quiet Centre, offering top-class and high-energy-efficiency office spaces. Two office buildings are being built at 17 and 21 Antonijas Street, with space for restaurants and shops on the ground floors alongside the offices. Magdelēnas kvartāls has already become a popular residential and meeting place — the first phase, completed six years ago, includes 116 apartments and commercial premises on the ground floor facing the pedestrian passage.
Romāns Astahovs, Managing Director of Vastint Latvia, commenting on the collaboration with Atea Global Services, said: “We are delighted to welcome Atea Global Services as the first and largest tenant in our new Magdelēnas kvartāls office building. With the signing of this lease, the number of Magdalenians will triple — a moment we’ve long awaited, and it’s happening sooner than we anticipated. We will make sure that the Atea Global Services team has exceptional conditions that will enhance employee productivity and well-being, allowing the company to continue its growth and development.”
Following current work planning trends and employees’ preference for hybrid working models, the new office, spanning more than 4,000 square metres across six floors, will provide on-site workspaces for approximately 350 employees. This approach will allow Atea Global Services to use the office space more efficiently, ensuring the necessary flexibility and facilitating the transition to a modern and sustainable work environment.
Robert Eberliņš, Managing Director of Atea Global Services, about the upcoming move: “We are thrilled to announce our upcoming office relocation, a decision we’ve carefully considered over the past several years. This announcement coincides with the 18th anniversary of opening our office in Riga – a testament to the company’s remarkable growth over the years, which has driven our need for larger premises. Our team has been working from two separate buildings for some time now, and we eagerly anticipate the opportunity to reunite in a new, modern space in the heart of Riga. We believe that, by moving to Magdelēnas kvartāls — an environment focused on well-being, sustainability, and the latest office standards — our people will be able to contribute even more to building a better future for Latvia through their expertise and technological capabilities.”
The deal was advised by real estate consultancy company Colliers Baltics.
Olga Mihailova, representative of Colliers Baltics’ office agency, said: “Office development today is a complex process, and the quality of the work environment plays a crucial role in achieving a company’s goals and growth. The work environment values and quality standards of Atea Global Services and Vastint Latvia align, which made the selection, negotiation, and organisation process productive and aimed at long-term, trustworthy cooperation. We thank Atea Global Services and Vastint Latvia for their trust and are happy to congratulate both parties on concluding such a significant lease agreement.”
About Atea Global Services
Atea Global Services is part of the Atea Group, the leading supplier of IT infrastructure in the Nordic and Baltic regions. Atea is present in 88 cities with over 8,000 employees in Norway, Sweden, Denmark, Finland, Lithuania, Latvia, and Estonia. Atea delivers hardware and software from leading global vendors and provides consulting and technical services to support its customers with the design, implementation, and operation of their IT environments. Atea had a gross turnover of approximately 35 billion NOK (EUR 3,1 billion) in 2023 and is listed on the Oslo Stock Exchange. More information: www.atea.com