Six new shopping centers to be built in Tallinn

TALLINN - Construction of at least six new shopping and leisure centers is planned in Tallinn in 2012, the Estonian news portal BBN reports.

Margus Tinno, investment expert of real estate consultancy Colliers, says that all six centers would hardly see the daylight, but the first could be successful, writes LETA.

One of the projects is the Admiralty Pool residential and commercial center that is being developed by Hillar Teder.

Pro Kapital Grupp is developing the Moekombinaat project on Peterburi road. Allan Remmelkoor, board member of the group, says that the plan is to start construction in second half of 2012 and open it within two years.

E.L.L. Kinnisvara plans to open Panorama City, a shopping and leisure center near Song Festival Grounds in the spring of 2014.

“The market is growing and Tallinn is expanding,” explained Aldo Dapon, the company's CEO.

GMP ja Partnerid that plans to build a vast complex called EinStein Centre in Viimsi just outside Tallinn has promised to start construction this year and open at the end of 2013.

Besides, the Gate Tallinn, a multifunctional retail park on the border of Tallinn is being developed by Trigon Capital.