SEB’s business services centre in Riga to move to business centre GUSTAVS in 2023

SEB Group’s business services centre in Riga has signed an agreement with the real estate developer GALIO Group about moving its office to a newly constructed business centre GUSTAVS at Gustava Zemgala gatve 73 at the beginning of 2023.

The construction of the new building will start this summer. SEB will occupy approximately 11 000 square meters to accommodate more than 1000 employees. It will be a six-storey building, designed and built according to sustainability requirements of BREEAM Excellent Certificate.

Rūta Jasiulionienė, manager of SEB’s business services centres in Riga and Vilnius: “This is a long-anticipated step, which will enable us to bring our teams in Riga together under one roof in a modern and inspiring work environment. After the pandemic office will still play an important role in terms of collaborating, learning from each other and creating value together. With the help of one of the most experienced workplace strategy companies we will involve our colleagues in the process of designing our future environment and new ways of working and collaborating, so that the new office lives up to their expectations. I have no doubt that our new office in Riga will set a new standard for companies in our industry – just like our new office NOVA in Vilnius has done, where we finished moving in this spring.”

Kaspars Beitiņš, board member of GALIO development in Latvia: “This transaction shows that Riga real estate market is awakening and ready for big deals and greater trust between real estate developers and tenants. GUSTAVS business centre will be energy efficient, modern and people-centric business space for productive and successful businesses and their teams. With projects like office complex S7 in Vilnius, GALIO Group has proven top quality, valuable for companies that take sustainability and employee well-being seriously. We will adopt all our know-how from projects in Lithuania (i.e. Wave business centre, office complex S7) herein and we are very happy to provide it for SEB team.”

Colliers International acted as a consultant to SEB in selecting the new office project and negotiating the agreement with the developer.

SEB’s business services centre in Riga delivers business functions such as transaction services and cash management, global custody and sub custody, compliance and risk, private banking operations, trading operations and trading control, KYC and customer lifecycle operations, and IT development and maintenance to other SEB Group companies in Scandinavia and other parts of the world.

Currently SEB’s business services centre in Riga employs approximately 850 employees in Latvia and its teams are spread across three different sites in Riga. SEB has another business services hub in Vilnius, which employs more than 1200 employees. The head office of SEB bank in Latvia will remain in Valdlauči, Meistaru street 1.

GALIO Group is a Lithuania-based company engaged in sustainable real estate development. The company owns several land plots in Riga where it plans to develop multifunctional projects and offer Riga’s market about 110 thousand. sq.m. of modern office space and about 2 000 new apartments.