AS PN Project, the developer of Preses Nama Kvartāls in Riga, has signed a lease agreement with one of the largest wind energy developers in the Baltics - Utilitas Wind. The relocation is planned in the end of 2026.
The addition of Utilitas Wind to the tenant mix reinforces Preses Nama Kvartāls strong market position and underscores sustained demand for sustainable, technologically advanced Class A offices in Riga. This transaction highlights the project’s long-term potential, as the fund continues to execute its development and leasing strategies.

“A high-quality, sustainable office environment is becoming a decisive factor for international companies entering the region. The fact that leading companies in the energy and other high value-added sectors are choosing our project confirms that Preses Nama Kvartāls meets the highest standards of efficiency and employee well-being,” says Povilas Urbonavičius, Head of Lords LB Special Fund V.

“The Baltic region, including Latvia, is one of our strategic markets, where we see strong potential in renewable energy. When selecting new office premises, it was important for us to find an environment that reflects our values of sustainability, innovation, functionality, and competitiveness. The Class A office centre at Preses Nama Kvartāls meets these requirements at the highest level: energy-efficient and sustainable solutions, modern infrastructure, and well-thought-out functionality enable efficient daily operations and support our team’s needs. The project’s location and accessibility are also important, making the office convenient for both employees and partners. We see this choice as a logical step in our long-term development in the Baltics, strengthening our position in the region while ensuring a high-quality working environment that matches our ambitions,” says Renārs Urbanovičs, Board Member of Utilitas Wind SIA.

Office space at Preses Nama Kvartāls continues to attract strong interest from both local and international companies. Lease agreements have already been signed for 17% of the leasable area, with a further 5% nearing completion, while negotiations are ongoing for other 38% with several companies from the technology and services sectors. The development offers a broad range of office solutions, from approximately 219 to more than 2,500 m² per floor, and combines flexible layouts, panoramic views, and energy-efficient systems to support modern, employee-oriented work environments.

About Preses Nama Kvartāls

The development of Preses Nama Kvartāls is carried out in several construction phases. The first phase includes A-class office building. The concept of further development of landplot includes a medical or educational center, hotel or residential building, an office building and other facilities. Renovation works of the existing Preses nams building are also planned. The project developer is Lords LB Asset Management, whose total assets under management reached 1,423 billion euros by the end of December 2025.

      Rasa Bartusevičienė
      Investor relations manager
      rasa.bartuseviciene@lordslb.lt
      +370 616 34096
      
      Povilas Urbonavičius
      Fund manager
      povilas.urbonavicius@lordslb.lt
      +370 687 96519
      
      Povilas Akstinas
      Financial director
      povilas.akstinas@lordslb.lt
      +370 686 55452