Galio group - We signed the contract with SEB Global Services for the construction and lease of a new office in Riga

July 11 d. 2021 — For business

We signed the contract with SEB Global Services for the construction and lease of a new office in Riga

We have signed the contract with SEB Global Services for the construction and lease of the office building of about 11 thousand sq. m in Riga. Construction of the business centre will start this summer and in 2023 around 1,000 employees of SEB Global Services will move in here.

SEB Global Services rented one of three office buildings in Gustavs Business Park developed by Galio Group in Gustava Zemgala St., Riga. Construction of the business centre is scheduled to begin as early as this month. The six-storey office building with a two-level underground car park has been designed and will be developed in accordance with BREEAM Excellent international standard for sustainable buildings.

“There has been uncertainty in Riga’s RP market for a long time – similar to that in Vilnius some 5 or 6 years ago. However, this transaction is a clear sign that Riga’s RP market is increasing turnarounds and is already ready for big deals, that trust is growing among the RP developers and tenants. We appreciate the trust we have been given and are confident that Gustavs will be a top-quality project that creates value for the people who will work here and the city,” says Aisvidas Sriebalius, CEO of Galio Group. 

According to him, during the development of Gustavs Business Park in Riga, Galio Group will transfer all the experience and skills acquired in implementing a similar concept conversion project “S7” in Vilnius, Saltoniškių St.

Rūta Jasiulionienė, Branch Manager of SEB Global Services in Vilnius and Riga, notes that renting a new and tailor-made office is a long-planned step preceded by thorough preparations.

“The new business centre will allow us to bring all our teams together under one roof in Riga, in a modern and inspiring working environment. Although the pandemic has changed working habits and procedure, the role of the office remains important as a place where people collaborate, learn from each other and together, in a team that creates value. With the help of workplace strategists – one of the most experienced companies in this area, involving all our colleagues, we will create a working environment for our future, new ways of working and collaborating so that the new office meets the expectations of our colleagues. I am confident that this office in Riga will set a new standard for our sector companies in Riga – just like the new office IN NOVA in Vilnius, where we moved in this spring,” says R. Jasiulionienė.

Currently, 850 employees of the SEB Global Services in Latvia work in three different offices in Riga.

The transaction between Galio Group and SEB Global Services was brokered by the RP services company Colliers International, which advised the tenant and negotiated the RP lease agreement with the developer.

Gustavs Business Park is the first project to be launched in Riga of the three RP projects planned by Galio Group in the neighbouring capital. GUSTAVS is a three-building complex developed in accordance with the highest standards of sustainability and employee comfort. The total area of this Business Park will be 41 thousand sq m.

In Riga, Galio Group also plans to develop the residential project on Brivibas Street, where they envisage installing about 900 apartments, and the multifunctional project on Daugavgrivas Street.