Elemental Business Centre has signed an office lease agreement with Novartis Baltics

The office rental complex Elemental Business Centre has signed an office rental agreement with the pharmaceutical company Novartis Baltics. Novartis Baltics will rent 335 m² of office space on the 3^rd floor of the Elemental Blue building. The office is planned to open already this summer.

The pharmaceutical company Novartis Baltics started its operations in Latvia in 1997 and is a branch of the Switzerland-based Novartis AG – one of the largest pharmaceutical companies in the world.

Liene Siliņa, member of the board of SIA Novartis Baltics, states that the spaciousness and energy efficiency of the premises played a significant role in the decision to move the office to the Elemental Business Centre:

“Since one of the core values of Novartis Baltics is caring for people, it is important for us that everyone here feels comfortable and pleasant. For the Novartis Baltics team, the office is more than just a location – it represents both the company’s values and also promotes creativity, which is so crucial in the creation of innovations. We are pleased that already this summer we will be able to open the new Novartis Baltics office at Elemental Business Centre, which at the same time also meets the highest standards of energy efficiency and sustainability”.

The sales manager of Elemental Business Centre, Imants Krēsliņš, says that in recent years it is clearly visible that tenants are paying more attention to the energy efficiency of office premises:

“Currently, we see that more and more tenants choose to move to class A office premises for the purpose of promoting sustainability. In addition, more attention is being paid by companies to the BREEAM certificate, which as a guarantee of building quality has already become a standard prerequisite for many when choosing an office. We are happy that, thanks to the conformity of these values, Novartis Baltics has decided to move to Elemental Business Centre, adding to our diverse pool of tenants”.

Novartis Baltics was represented by CBRE Baltics in this transaction for the lease of office space in Elemental Business Centre. Reinis Lauskis, associate director of CBRE Baltics, emphasises the importance of modern offices for achieving the long-term goals of companies:

“Riga’s modern office market has experienced significant changes in recent years, with the activity of developers in the development of class A offices not seen for a long time. The lease agreement concluded between Elemental Business Centre and Novartis Baltics is proof that office tenants appreciate the advantages of modern offices, both when thinking about the well-being of employees and realising the importance of sustainability in the everyday life of the company.”

Elemental Business Centre consists of two interconnected office buildings. Elemental Green building was opened first and is currently the most actively occupied. In Elemental Blue building, Fiziocentrs has opened and offices are currently being built, which will open their doors at the end of February and the beginning of March.

Currently, 5,000 m² of office space is still available for rent in the office centre, while almost 80% is already leased. Available premises for companies of any size, starting from 100 m².

The complex of office buildings is already occupied by such tenants as Swedish financial holding company Marginalen AB group companies GelvoraSergel and Aizdevums.lv, the international IT services company Arvato Systems, CV Market, Primend, Kapitel, Dyninno Group, and Rimi.

About Elemental Business Centre:
In October of this year, the State Construction Control Bureau of Latvia commissioned Elemental Business Centre, the total investment of which exceeds 60 million euros. The construction works of the project were carried out by SIA Merks, and its developer is SIA Kapitel. Elemental Business Centre consists of two buildings with a total leasable area of 21,000 m².
The project is on its way to receiving the BREEAM Outstanding rating, thus becoming the first building in Latvia with the highest possible rating. Elemental Business Centre buildings are also the first in Latvia, which are connected by a parametric facade. In the construction of buildings, energy piles were used, which are able to provide up to 72% of the building’s heating and cooling needs, significantly reducing the costs of utilities for tenants.