EKE Group

What EKE Group does

EKE Group (legal entity AS EKE, registry code 10046500) is an Estonian commercial real estate developer, owner, and operator headquartered at Liivalaia 14, Tallinn. Founded in 1994 and tracing operating history to the 1960s, the company manages a portfolio of more than 300,000 m² of leased space across 220+ tenants, spanning office buildings, business centres, mixed-use districts (WoHo), industrial parks (Pärnu EEK, Priidu, Vana-Narva), hospitality assets (Swissôtel Tallinn, Tervise Paradiis, Spa Tervis, Värska Spa), and residential developments (Tornimäe 7, WoHo Apartments). The flagship project is the 55,000 m² Hipodroomi Quarter, currently under construction with first buildings planned to open by end of 2027 and anchored by telecom operator Elisa.

EKE generates revenue through three principal streams: recurring rental income from commercial, industrial, and stock-office leases; property development and occasional outright sale of completed buildings (e.g., the 1996-built Liivalaia 8 was sold to Hansapank/Swedbank); and hospitality revenue from owned-and-operated hotels, spas, and water parks. GTM is sales-led and direct: sales managers handle personalized rental offers for tenants ranging from 230 m² stock-office units to multi-hectare industrial parks. Marketing is primarily through the company's multi-language website (eke.ee) and a small set of named sales representatives, with named enterprise tenants including Telia Estonia (21,844 m² headquarters), Starship Technologies (~4,800 m² robotics manufacturing), Gunvor, Henkel Balti, Embassy of India, and Eesti Loto.

The company has no disclosed AI, software, or technology platform; its core capability is physical asset development, location-driven land positioning, and integrated property management. EKE is privately held as AS EKE, operates exclusively within Estonia, and runs with 251-500 employees. The single confirmed M&A event is the January 2018 acquisition of OÜ Hallivana (Eesti Loto Building). The active development pipeline — Hipodroomi Quarter, WoHo stock-office, BP-8, Priidu Äripark infrastructure, plus permitted projects at Juhkentali 46, Ehitajate tee 104, Peterburi tee 72, and others — represents the primary forward growth lever.

Name

EKE Group

Legal name

AS EKE

Website

https://eke.ee

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

251–500 employees

Short description

EKE Group is an Estonian commercial real estate developer, owner, and operator managing 300,000+ m² of leased office, industrial, stock-office, hospitality, and residential property across 220+ tenants in Tallinn, Pärnu, and other Estonian locations, with a major new 55,000 m² business quarter under construction.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Development

NAICS

Lessors of Nonresidential Buildings (except Miniwarehouses) (531120), Real Estate Property Managers (53131), Rental and Leasing Services (532)

SIC

Operators Of Nonresidential Buildings (6512), Real Estate Operators (No Developers) & Lessors (6510), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Mixed-Use Property Management (BPAJAGAE)

akta.pro secondary industry

Flex / R&D Industrial Space Brokerage (BPAJACAC)

Keywords

• Commercial real estate development
• Office building leasing
• Industrial park management
• Mixed-use district development
• Hospitality and spa operations

Headquarters

HQ city

Tallinn

HQ country

Estonia

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Supply Chain, Personnel, Operations, Marketing or Sales

Revenue model

1. Commercial Property Rental: EKE Group generates revenue primarily through leasing commercial properties including office spaces, warehouses, stock-office units, business centers, and industrial facilities. Properties include EKE Business Centre, Tornimäe Business Centre, Sõle Business Centre, WoHo district, BP-8 stock-office, and various industrial parks. Rental terms appear quote-based with spaces available from 230 m² upwards.
2. Property Development and Sale: EKE Group develops properties for its own portfolio but also sells completed properties. Notably, Liivalaia 8 was sold to Hansapank (now Swedbank AS) upon completion, indicating occasional property sales as part of revenue generation.
3. Hospitality and Spa Operations: Through ownership of spa and hotel properties including Spa Tervis (Pärnu), Värska Spa, and Swissôtel Tallinn, EKE generates hospitality revenue from accommodations, wellness services, restaurants, and conference facilities.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

EKE Group develops, owns, and leases commercial real estate properties including office buildings (EKE Business Centre, Tornimäe Business Centre, Sõle Business Centre), industrial parks (Pärnu EEK, Priidu Business Park, Vana-Narva Technology Park), stock-office facilities (BP-8, WoHo stock-office), mixed-use districts (WoHo, Hipodroomi Quarter), and operates hospitality venues (Swissôtel Tallinn, Spa Tervis, Värska Spa, Tervise Paradiis) across Estonia. The portfolio exceeds 300,000 m² of leased space serving over 220 commercial and consumer clients.

Product overview

EKE Group is a commercial real estate development company based in Tallinn, Estonia, with over 60 years of experience and a diversified portfolio of over 300,000 m² of leased space serving more than 220 clients. The company's product portfolio consists primarily of commercial and residential property developments, including business centres (EKE Business Centre, Tornimäe Business Centre, Sõle Business Centre), mixed-use districts (WoHo district, Hipodroomi Quarter), industrial properties (Pärnu EEK Industrial Park, Priidu Business Park, Vana-Narva Technology Park), hospitality properties (Swissôtel, Tervise Paradiis, Värska Spa), residential buildings (Tornimäe 7, WoHo Apartments), and stock-office/warehouse facilities (BP-8, WoHo stock-office). These properties range from completed operational buildings generating rental income to active development projects in various stages of planning and construction, with the flagship Hipodroomi Quarter representing the largest current development at approximately 55,000 m².

Differentiator

Problem solved

Functional benefit

Products and services

• EKE Hipodroomi Quarter Development A comprehensive business and residential environment developed on the historical site of the Tallinn Hippodrome, offering approximately 55,000 m² of lettable area including the Elisa Building (18,000 m²) and Building B (8,000 m²) as the first phase. Features underground parking, galleries, a helicopter landing pad, and Estonia's largest indoor bicycle parking. Targeted at commercial tenants requiring premium, sustainable office space in a new central Tallinn quarter.
• WoHo stock-office (Mustamäe tee 5a) Two-story commercial and production building of over 7,000 m² under construction; designed to meet energy class A with a solar power system. More than half (nearly 4,800 m²) will be occupied by Starship Technologies as anchor tenant for robotics manufacturing and operations. Targets stock-office tenants combining warehousing and office functions.
• BP-8 stock-office (Betooni 8) Stock-office type warehouse in Sõjamäe subdistrict at Lasnamäe. Two-story building with 3,138 m² of space including offices, production lines, and warehouse shelving. Minimum rental unit 230 m². Targeted at small-to-mid industrial and logistics tenants requiring combined warehouse/office space within Tallinn.
• EKE Business Centre (Liivalaia 14) Headquarters office building located on Liivalaia street, one of the most valuable and busiest streets in Tallinn. 9 floors with 4,800 m² of lettable area featuring minimalist architecture with views of the sea and Old Town. Serves as EKE's corporate headquarters and also provides office space to commercial tenants.
• Sõle Business Centre Business centre at Sõle 14 in Põhja-Tallinn with three renovated buildings (A, B, C) totaling 8,300 m² of lettable area. Features large windows, 3-4.5m ceilings, a co-working space, restaurant, and daycare. Targets small and mid-sized commercial tenants seeking flexible office space in northern Tallinn.
• Tornimäe Business Centre Five-floor business centre at Tornimäe 5, occupying the office portion of the building shared with the 5-star Swissôtel hotel. Total office area 11,000 m². Anchor and notable tenants include the Embassy of India, Gunvor (energy/commodities trading), and Clinic 32. Targeted at premium commercial tenants seeking central Tallinn office space.
• Pärnu EEK Industrial Park Industrial park on over 10 hectares in Pärnu with production facilities over 25,000 m² of net floor area. Detailed plan allows for over 200,000 m² of building volume. Tenants include Henkel Balti OÜ, Nord Homes OÜ, and Nordium OÜ as manufacturing tenants. Targets large-scale industrial and manufacturing enterprises needing substantial production and warehouse space.
• Priidu Business Park (Kiili Technology Park) Business park in Kiili municipality with six properties totaling 16.05 hectares. Building permits for 88,280 m² are in place; properties can be consolidated for larger space requirements. Targeted at industrial and technology tenants requiring flexible land parcels in greater Tallinn.
• Vana-Narva mnt 28 Technology Park Technology park on 16 hectares next to Tallinn. Building permits for 319,175 m² are in place, including 89,115 m² of office space and 230,060 m² of production space. 10 properties are available with 8 already developed. Targets large-scale technology and manufacturing tenants.
• Swissôtel Tallinn 30-storey luxury 5-star hotel at Tornimäe 3, totaling 21,000 m² with 238 rooms, 7 conference rooms (including Estonia's largest ballroom), 3 restaurants, 2 bars, and the Pürovel Spa & Sport Centre. Built in 2007. Targeted at business travelers, conference and event organizers, and luxury leisure guests.
• Tervise Paradiis Hotel and Water Park Modern hotel and water park complex on Pärnu beach totalling 20,500 m² with 122 rooms. Operates one of Estonia's largest and most visited water parks, popular with Latvian visitors as well. Targeted at leisure families, wellness guests, and group travelers.
• Spa Tervis Pärnu Grand hotel and spa complex located between Pärnu Yacht Club, Pärnu River, and the beach park forest totalling 28,500 m² with 279 rooms. Offers spa, wellness centre, hotel, restaurants, and leisure activities. Targeted at wellness travelers, conference groups, and individual leisure guests.
• Värska Spa Resort Resort spa in southern Estonia on a 22-hectare site with 12,400 m² of developed net area, drawing on therapeutic mineral waters from underground. Hotel rooms were recently renovated. Targeted at wellness travelers and rehabilitation patients across the Baltic region.
• Telia Building (Mustamäe tee 3) Modern and energy-efficient commercial building at Mustamäe tee 3 built in 2017. Serves as the new headquarters of Telia Estonia with 21,844 m² across 14 floors. Anchor-tenanted by Telia Estonia (telecommunications). Targets enterprise tenants needing purpose-built headquarters in Tallinn.
• WoHo District (Mixed-Use Quarter) Hybrid work-live district with two 14-floor high-rise buildings and 500-space parking garage. Total volume 36,000 m² completed in 2018, accommodating 1,400 people working daily. Combines commercial office space, retail, and residential. Targeted at hybrid tenants and residents seeking integrated work-live environments.
• WoHo Apartments (Premium Residential) 49 luxury apartments on the 5 upper floors of the Pipedrive building at Mustamäe tee 3a. Total floor area 12,676 m² across 14 floors with 3.3m ceilings, floor-to-ceiling windows, and water-based underfloor heating. Targeted at affluent individuals seeking premium apartments in the WoHo hybrid district.
• Tornimäe 7 Residential Tower 30-storey, 117-metre residential building, the tallest apartment building ever developed in Tallinn. Totals 23,000 m² with 186 apartments, built 2006. Targeted at affluent residents seeking premium central Tallinn living with views.
• Eesti Loto Building (Hallivanamehe 4) Commercial and office building at Hallivanamehe 4 in central Tallinn, with 9 floors above ground and a 2-floor underground parking. 8,800 m² total and 5,000 m² rentable area, built in 2015. Held through OÜ Hallivana, 100% owned by AS EKE since January 2018; named tenant Eesti Loto (state lottery). Targeted at commercial and government tenants.
• Tornimäe Parking Garage Parking garage operated by Europark Estonia at Tornimäe totalling 7,300 m² with 300 parking spots and 1 underground floor, built 2002. Targeted at office workers, hotel guests, and visitors in the Tornimäe district.

Quantifiable outcome

• Over 300,000 m² of commercial space managed across Estonia
• +3 more outcomes

Named customers11 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Regional players

• Trigain: Latvian/Baltic real estate developer with commercial and mixed-use projects. Comparable in development model and tenant focus but primarily serves the Latvian market rather than Estonia.

Direct peers

• Endover: Estonian real estate developer active in residential, commercial, and mixed-use projects in Tallinn. Comparable to EKE in targeting premium Estonian tenants and operating in the same micro-locations (city centre, Mustamäe).
• Hepsor: Estonian residential and commercial real estate developer listed on Nasdaq Tallinn. Comparable as a domestic developer/landlord operating in the same Estonian market, with overlapping office and mixed-use exposure and similar customer segments.
• Kapitel: Tallinn-based commercial real estate company managing office, retail, and hospitality properties. Comparable to EKE's commercial property management focus on premium Estonian locations.
• EfTEN Real Estate Fund: Estonian commercial real estate fund manager owning offices, retail, and logistics assets across the Baltics. Comparable as a long-term landlord of commercial real estate with similar tenant profiles and Baltic market exposure.
• Baltic Horizon Fund: Closed-end real estate fund listed on Nasdaq Tallinn with commercial property assets across Estonia, Latvia, and Lithuania. Comparable as a Baltic-focused commercial landlord with office and retail exposure similar to EKE.
• Technopolis: Nordic/Baltic operator of office and coworking spaces. Comparable in offering modern, energy-efficient office space to enterprise tenants; competes in the same office-leasing category in select Baltic cities.
• Pro Kapital Grupp: Baltic real estate developer focused on large-scale mixed-use and commercial developments in Estonia, Latvia, and Lithuania. Comparable to EKE's Hipodroomi-style large mixed-use districts and similar customer profiles.

Broad incumbents

• Merko Ehitus: Estonian-listed construction and real estate development group with broader activities across the Baltics. Comparable as a major Estonian developer and landlord, though with greater construction emphasis and broader geographic reach than EKE.

Others

• Colliers Estonia: International real estate advisory and brokerage active in Estonia. Comparable as a competitor for tenant relationships and market intelligence but operates as an advisor/broker rather than a landlord/developer.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/www.eke.ee
• LinkedInee.linkedin.com/company/eke-as
• Instagraminstagram.com/eke.ee

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about EKE Group