Vilnius has been rapidly transformed, and the town has emerged as a modern European city. Many of its older buildings have been renovated, and a business and commercial area is being developed into the New City Centre, expected to become the city's main administrative and business district on the north side of the Neris river. This area includes modern residential and retail space, with the municipality building and the 129-metre (423') Europa Tower as its most prominent buildings. The construction of Swedbank’s headquarters is symbolic of the importance of Scandinavian banks in Vilnius. The building complex
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