When the 24-story building in Tallinn's Tornimäe was completed in 1999, it became Estonia's first skyscraper. From the beginning, it served as the headquarters of Eesti Ühispank, now known as SEB Bank. However, in April, it was revealed that the bank plans to relocate.

The building is owned by East Capital Group. Martin Otsa, a member of the management board and head of investments at East Capital, told ERR that after SEB moves out, the building will undergo a complete renovation.

As part of the overhaul, the building will be upgraded to meet modern standards of energy efficiency and design, with plans to reopen it by 2030. According to Otsa, it is still too early to discuss future tenants.

"The building will definitely remain multifunctional in its location — in addition to office space, it will also house restaurants and companies providing everyday services," Otsa added.

The real estate fund East Capital Real Estate IV purchased SEB's Tallinn headquarters from Partners Group and Northern Horizon in 2020 for €45.75 million. The building contains approximately 16,000 square meters of leasable space.

SEB plans to relocate in 2028 to the Talsinki quarter, which will be built along the Admiralty Basin, on the site opposite Golden Gate.

SEB Management Board Chair Allan Parik said in April that the bank had been searching for a new headquarters location for some time. While the current building has long been a landmark in the Tornimäe area, both business and urban life are increasingly shifting toward the waterfront.

The architect of the Tornimäe 2 building is Raivo Puusepp.

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