Four construction companies have bid on the so-called "super ministry" project, but all of their offers significantly exceeded State Real Estate's estimated budget.
The lowest offer for the project, which would combine four government ministries, was 17.85 euros per square meter, whereas State Real Estate had planned for 10.80 euros, reported uudised.err.ee.
"Now we have to thoroughly analyze the feedback we have received, look over our own projections, find a solution for going forward and discuss this with the ministries," said Jaak Saarniit, head of State Real Estate.
The planned building would expand the current Finance Ministry structure at the Suur-Ameerika 1 and Väike-Ameerika 2 properties, making room for the ministries of justice, social affairs, and economic affairs and communication.
Officials have said the project would cut the energy consumption of those ministries in half and eliminate the need for renovation investments, saving tens of millions of euros over the years.