Caixa allows cohabitation with ministries until it finds space for a new headquarters

Caixa Geral de Depósitos (CGD) executive chairman Paulo Macedo acknowledged this Thursday that the state bank could share its current headquarters with several ministries until it finds new premises, warning that the deadline is short.

“It is expected that the change of headquarters will take place by January 2026, so it’s time to look for new facilities,” said Paulo Macedo, noting that “three years looking for new facilities is not an easy task.”

This, according to the administrator, is one of the “unresolved” issues, such as property valuation.

According to Paulo Macedo, in 2010 the pension fund bought the property for 251 million euros, returning Caixa for 274 million euros. However, he expects “some recognition” from that period.

In a statement to the Securities Market Commission (CMVM) this Thursday, CGD added that “it intends to offer to transfer ownership of the current headquarters building to its sole shareholder in the form of dividends in kind.”

Currently, work is proceeding “according to the specifications” of the Presidium of the Council of Ministers, so that the current headquarters of the CHD can accommodate several ministries.

Government departments, according to the Caixa leader, will establish themselves “to the extent that the ministries themselves know exactly what they want.”

The state bank thinks it needs 30,000 to 32,000 square meters, but its president doesn’t think there are “big problems” with the gradual introduction of ministries at the moment, but that the solution should be temporary.

“There is, of course, the possibility of cohabitation, of course, until we find premises. Then finally – no. The state wants to be alone, and we, although in good company, also prefer not to involve anyone,” Macedo said.