HIGH RISE: The building boom continues in Tallinn.
TALLINN - Estonian construction company Nordecon Group and Technopolis Ulemiste concluded an agreement on building a new office building at the so-called Ulemiste City, reports LETA. The contractual amount of construction work will be approximately 8.7 million euros.
The construction of the 13-storey office building will start this summer and is due for completion by August 2015.
“Competition on the market for office premises in Tallinn is very intense - many companies are looking for fresh solutions - but there have been relatively few new developments in recent years,” said Gert Jostov, chairman of the management board of Technopolis Ulemiste.
“By now, the office premises of Ulemiste City are almost fully rented out. I am glad that contracting negotiations with Nordecon were successfully completed and that we can start the construction of the new office building on time. After the new building is completed the total area of leased-out premises in the business district grows from the current 63,000 square meters to 73,000 square meters,” said Jostov.
“This spring the construction sector is marked by increased activity from private customers. Nordecon’s portfolio has grown by several interesting and unique-looking buildings that will catch the eye of every passers-by. This is also true for the office building at Lootsa 5 [Ulemiste City] that is characterized by maximum environmental awareness and a sustainable approach. A modern construction group must always take this into account and keep up with the times,” said Avo Ambur, member of the management board at Nordecon.
The new building will have a facade based on digital print technology. Another interesting technological solution is that the building’s south facade will be covered by solar panels that will also function as horizontal sunshades. An application for LEED Gold certification will also be submitted as the complex will be built mainly from renewable and local construction materials.
The new office building will be 49.5 meters high and have approximately 11,000 square meters of closed net floor area.
Nordecon was founded in 1989 and is one of Estonia’s leading construction companies. The company has been listed on NASDAQ OMX Tallinn Stock Exchange since May 2006. In addition to the parent company, the Nordecon Group has more than ten subsidiaries. The group’s consolidated revenue in 2013 was approximately 174 million euros, with net profit of 4.6 million euros. The company employs more than 700 people.