The Occident insurance group, which includes Catalana Occidente, Plus Ultra Seguros, and Seguros Bilbao, is set to make a significant change in Bilbao. The entity will restructure the former headquarters of Seguros Bilbao, located in one of the city's prime areas, to dedicate it exclusively to offices. The project is expected to be carried out after next summer, transforming all seven floors of the building into office space.

This decision will have a major commercial impact, as it will lead to the closure of commercial premises located behind the Carlton Hotel. This will force businesses such as Klasiks and Cardenal, icons of men's fashion, to relocate to other areas. The operation began months ago with the closure of the Ensueños mattress store in Alameda Rekalde, and will also affect some businesses in Telesforo Aranzadi.

Designed by Luis María Gana Hoyos and Francisco Hurtado de Saracho Epalza in 1954, this building is a notable example of Basque brutalist style. Occident will reserve the entire building for the company's exclusive use, both horizontally and vertically, and will proceed with the relocation of all current tenants as their rental contracts expire. Work began several months ago and will accelerate as soon as the property becomes fully vacant.

Euskadi lost the headquarters of Seguros Bilbao in 2004 after it was absorbed by Catalana Occidente. At that time, Seguros Bilbao had nearly 400 employees and 1,400 commercial agents, while today it has over 400 exclusive offices. This acquisition was another instance in the long list of delocalizations of Basque companies, resulting from corporate operations that move the decision-making center outside of Euskadi.