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SEB Global Services to move to a new business center GUSTAVS in 2023

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


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

Rūta Jasiulionienė, branch manager of SEB Global Services 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. With the help of one of the best workplace strategy companies Gensler, we will involve our colleagues in the process of designing our future environment for work and collaboration, 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, project manager and Member of the board of GALIO 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 center will be energy efficient, modern and people-centric business space for productive and successful businesses and their teams. With projects like 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. S7 business center, Wave business center) 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.

Ēriks Bergmans, Colliers partner and Head of Agency: “SEB Global Services relocation to a newly constructed office building  Gustavs owned by Galio Group in rapidly growing VEF/Teika business district happened to become the largest speculative take-up deal in last ten years in Latvia as well as largest deal in Baltics in 2021. Colliers was happy to assist SEB Global Services to find the new home for successful and growing business. The new tenant has highly evaluated the infrastructure and office space quality as well as the great development potential of the business district.’’ 

SEB Global Services 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 Global Services employs approximately 850 employees in Latvia and its teams are spread across three different sites in Riga. SEB Global Services has another 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.

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Eriks Bergmans

Partner | Director | Head of Agency


Eriks has more than 10 years experience in commercial real estate across the Baltic States region.  

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