VCSE Tower

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Neveris Tower Corporation
Logo URL
Headquarters: Xilare
Nationality: Vetalia
Specialty: Office Construction
Storefront: [URL Forum Name]


Overview

The Neveris Tower Corporation (VCSE Ticker: NTC) is the largest corporation in the Large Scale Construction sector of the Vetalian Combined Stock Exchange. It employs 101,600 people in all of the major provinces and cities of Vetalia and has a market capitalization of 101.33 billion rubles. The company's primary focus is large commerical office projects (500,000+ square feet) and large scale residential projects (200,000+ square feet). The largest project undertaken by the firm is the VCSE Tower in Xilare, with its 4.3 million square feet of office space.

The company also has a highly profitable financial services wing called NTC Insurance. It provides insurance to over 43 million square feet of office space in Vetalia, or some 10% of total commerical space available in the country. This has proven to be highly profitable for the company and provides a valuable buffer during periods of construction slowdown. In 2033, the NTCI had 12.1 billion in revenues and a net profit of 4.73 billion rubles. The company is run by Marilla Neveris, the daughter of the late Quirin Neveris, who was the CEO of the company from 2003 to 2019. Quirin himself was the son of Fedal Neveris, who founded the company in 1960.

History

The NTC was founded in 1964 by Fedal Neveris, a moderately successful real estate developer from the eastern Vetalian city of Getella. He was primarily responsible for raising the руЯ251 million in venture capital and establishing its operations in Getella. The company took advantage of the strong economic growth in the 1960's and became continually profitable by the year 1968. The company had 1,000 employees by 1970 and was growing revenue at 20% per year for most of the decade. Revenue growth slowed in percentage terms during the next two decades, especially during the recession in 1991, which led to the first losses in twenty years. However, the company rebounded in the years following the recession and launched a successful IPO in 1995. Over the next decade, the company rose in prominence, and by 2003 had offices in all major cities of Vetalia. In 2003 Neveris retired, after running the business for nearly 40 years, and the CEO position passed to his son Quirin.

Quirin continued the policies of his father, but was controversial due to his willingness to fire employees who questioned the nepotistic policies of the firm's upper leadership. The company passed 50,000 employees in 2011, but this growth stalled during the economic slowdown of 2012 and the company reported its first loss in 21 years as a result of poor business decisions and inadequate sources of stable revenue. To boost profitability and to thwart attempts by the Board of Directors to remove him from his position, Quirin slashed nearly 5,000 redundant jobs, sold off underperforming assets, and created the NTC Finance wing of the company in 2014 to insure his company against future economic slowdowns. Business recovered rapidly and Quirin's position was secured. At this time, he also changed personally, taking steps to undo the damage of his nepotistic policies and to institute a meritocratic system for upper management. This was not a token move, eventually resulting in a major reorganization of the company's management and greater accountability at all levels. Further lifting the company's prospects in 2014, the recently IPOed Vetalian Combined Stock Exchange Corporation contacted the firm to discuss a new office building in Xilare. This contract eventually resulted in the announcement of the VCSE Tower in the year 2019.

However, Quirin's new policies were not enough to undo all of the damage his previous actions had caused. Due to growing controversy surrounding a series of questionable business deals from 2015-2018 that were exposed by the Ministry of Internal Security in a major sweep of the construction industry, Quirin resigned and passed the CEO office to his daughter Marilla, who was responsible for overseeing the actual construction phase of the VCSE Tower from 2020-2024. She runs the company to date, although it is speculated she will leave the company in the near future to take a position with Bellatrix Communications, another firm heavily invested in East Vetalia. It is likely her departure will be the end of Neverisian control of the company.


VCSE Tower

The VCSE Tower is generally considered both a masterpiece of Vetalian office design as well as one of the most ambitious projects in the history of Vetalian construction, indeed the most ambitious in the Neveris corporation's history. The first plans for such a project were discussed in 2014, but plans did not move beyond that stage until 2019 when the VCSE Corporation acquired the old Servodyne Systems building in the central business district of Xilare. Plans were made to demolish the old skyscraper and construct a new, massive office tower that could support the VCSE's rapidly growing trading volume and brokerage services. The VCSE hired the architctural firm Nova Design, from the city of Novgorod, to design the structure, and selected Neveris to construct it after a competitve bidding process that lasted two years. Ultimately, the deal was worth 10.2 billion rubles over four years, including costs for infrastructure work, which was not handled by Neveris. For them, the deal amounted to nearly 4 billion rubles per year, or 30% of total operating revenue during the period 2020-2024. The structure would have 4.3 million square feet of office space, the largest single building in Xilare.

The Servodine building was demolished in January of 2020 and the site was clear by the end of June. Construction began shortly thereafter, with the structural framework in place by mid 2021; the carbon polymer glass exterior was in place by March of 2022 and interior work was completed by April of 2023. The VSCE corporation relocated its servers and vital operational personnel there by June of 2023, although the brokerage services and nonessential personnel did not move in until January of 224. The grand opening occured on February 1st, 2024 with Praetor Melnikov personally presiding over the grand opening.

The structure utilized the most advanced technology in its construction; it is particularly notable for its energy efficency as well as its forward-looking construction. This is evidenced by the existence of considerable extra capacity for fiber-optic cable, server rooms, and various types of communication devices as well as easy access to all existing technology for easy upgrading. Shortly after moving in, the VCSE Corporation invested some Ş25 million to install a sentient computer system to manage the building as efficently as possible, and it has greatly reduced costs by eliminating unnecessary security and maintenance personnel.

The VCSEC has a lease on the building for the next 30 years, although a portion of the building will be rented out to other brokerages to help cover rental costs. Plans are also in the works for a cluster of seven World Finance Centers to encourage greater investment in the city from international brokerage firms. It has not yet been determined whether the Neveris firm will be given the contract to build these structures.

Controversy

Like many other corporations, Neveris has recieved attention for its involvement with organized crime interests in Xilare and other cities. However, following the resignation of Quirin Neveris, the company has become far more cooperative with Ministry of Internal Security agents and voluntarily turns over its financial statements to the organization every quarter for deeper examination. However, organized crime almost always works through shell companies, and given the size of the construction industry it is virtually impossible to ascertain the legitimacy of brokered deals. It is estimated privately by agents working with the firm that some 1.1 billion in revenue comes from organized crime activities, although there is no proof to actually support a real investigation. It remains to be seen what actions will be taken in regard to the company given the rapid increase in intelligence funding and personnel outlays since the start of the Melnikov era.