OPEC Fund Annual Report 2023

04 | THE ORGANIZATION – OUR NEW HEADQUARTERS

OUR NEW HEADQUARTERS

Proud of its historic Headquarters in the Deutschmeister-Palais on Vienna’s famous Ring- strasse the OPEC Fund did not have far to look when seeking additional space for a growing workforce amid the expansion of its activities.

The adjacent building at Parkring 6 is the Palais Colloredo-Mannsfeld, built in 1865 by a princely family in Neo-Renaissance style. The OPEC Fund set out to combine these two architectural jewels in its host city following painstaking renovation works, taking ut- most care of the historic circumstances and the wider ensemble. Works on historically significant rooms (now formal meeting areas) were conducted under the auspices of the city’s heritage authorities and local craftspersons. With the successful conclusion of these works the OPEC Fund started to finalize the new building in November 2023 and a short while later more than 75 staff from select departments moved into their brand new workspaces where they will be joined by many colleagues in the coming years. The expansion follows a “One Building Concept” which connects the historic Headquarters at Parkring 8 with the new building at Parkring 6. An access area has been opened and additional connections between the two buildings have been constructed. However, the concept goes beyond mere building measures — it embodies a new approach to how the OPEC Fund organizes its daily work. Offices have been designed as open space areas, introducing a philo sophy that supports collaborative work. Grouping entire teams together is expected to increase produc- tivity and efficiency. “Space shapes behavior,” says the interior designer and project lead Oliver Kupfner.

In addition, high sustainability standards will make the building and its operation energy efficient and environ- mentally friendly. Office design and equipment standards have also been chosen to guarantee the well-being of staff. The new building will allow the OPEC Fund to further raise its visibility in Vienna. A showroom has been cre- ated on the ground floor, providing visitors and pas- sers-by a window into the OPEC Fund’s development work. State-of-the-art conference facilities will also enable the OPEC Fund to host a wider range of external engagements than previously possible at Parkring 8.

The refurbished Palais Colloredo-Mannsfeld is a new pearl on Vienna's famous Ringstrasse