The historic Marat House in Tallinn, which is part of the portfolio of LHV pension funds, is moving step by step towards its new life. A topping out event was held in the building this May, and already by spring 2026, the former textile factory will become one of the most modern commercial buildings in the capital.
The total investment will be nearly 40 million euros, which is the largest direct property investment in the history of Estonian pension funds. According to Rait Riim, the Head of Real Estate Investments of LHV Pension Funds, LHV is the only pension fund manager in Estonia making direct investments in domestic real estate, thereby contributing to the development of the local living environment. ‘The Marat House is a prime example of the intersection between investment, architecture, and the future urban landscape. Without a doubt, this historic and dignified building will, once renovated, become one of Tallinn’s most modern office spaces, where industrial architecture meets cutting-edge technological solutions,’ he said.
Riim emphasised that preserving historical heritage has been a key priority in the redevelopment of the Marat House. This meant rejecting the simpler and often more common approach of demolishing the old structure to build something new. ‘On the one hand, the high ceilings and large windows of the former industrial building give the new office spaces a unique character that few downtown offices can rival. In addition, we value sustainability and aim to minimise the environmental footprint of the construction process,’ Riim explained the background of the decision.
Marat House will have a total of 16,000 square meters of leasable space on seven floors. From the second to the seventh floor, the building will house modern office spaces, while the ground floor will feature retail and service areas.
According to Riim, the Marat House aligns well with today’s fast-paced and mobile lifestyle, where convenience is paramount. ‘We want everything tenants need to be within easy reach, because time is a limited resource,’ Riim stressed.
The anchor tenant of the building will be Stora Enso, one of the most esteemed manufacturers of packaging materials, timber constructions and forest industry companies in the Nordic countries. In conversations with future tenants, it is often said that bright workspaces, a shared roof terrace, bicycle parking and excellent accessibility became key factors in making the decision.
Marat House will be completed in the spring of 2026. The building meets Class A energy efficiency standards and will be certified under the international BREEAM green building certification system. Renovation works are being carried out by Tallinna Ehitustrust OÜ.
Learn more about the Marat House at: maratimaja.ee
