Capital Mill signed a contract with NOBE, a construction company belonging to Nordecon Group, for the construction of the Laaneserva residential area in Viimsi municipality. A total of 4 terraced houses will be completed by mid-2024. This is the first major residential development project of Capital Mill, which has until now focused on commercial real estate investments.
On Thursday, NOBE signed a contract for services with companies under the management of Capital Mill for the construction of four terraced houses, where a total of 36 terraced house sections will be built at the addresses Laaneserva tee 6, Laanelinnu tee 5, Laaneserva tee 8, and Laanelinnu tee 7 in Viimsi municipality. The total cost of the construction works is approximately 6.8 million euros without VAT, and according to the contract, the works will be completed in the spring or summer of 2024.
‘Capital Mill entered the field of housing development with a very promising project – the Laaneserva residences will be built in a beautiful and tranquil area in the village of Haabneeme, where there is enough privacy on the one hand, and at the same time, there are various supporting opportunities and services for families nearby, e.g., restaurants, kindergartens, sports tracks, bus stops, and commercial activities,’ stated the CEO of Capital Mill, Kaarel Loigu. ‘The goal of the Laaneserva development is to offer unique 4-room terraced houses with spacious layouts, which take into account the surrounding greenery and fit well into that environment with their façade solutions and use of materials.’
According to Kaarel Loigu, Capital Mill is also active in the field of residential development with the development projects of Luise 13, Väike-Taani, and Jakobi 17.
‘It is a pleasure to begin initial cooperation with an experienced real estate developer such as Capital Mill. In the case of the Laaneserva terraced houses, it is clear that all the important aspects of housing construction have been thoroughly thought out by the developer at an early stage, and they meet the modern standards and expectations of future homeowners. We believe that NOBE’s many years of experience in residential construction will ensure smart construction solutions, fast home completion, and lasting quality,’ said Board Member and Construction Director of NOBE, Priit Nigols.
Special attention to privacy has been paid in seeking an exact location for the Laanserva development, and the L-shaped buildings will help create a cosy and quiet courtyard with a play area, where there are multiple activities for children of all ages. As a result, the locations of the terraces are also facing multiple directions, allowing the future homeowners enjoy privacy in spending time with their family. The author of the architectural solution of the buildings is the AB Panda architectural bureau.
Capital Mill is a company founded in 2008, it is focused on investment in commercial buildings and residential development located in the Baltic countries, the size of the portfolio reaches 500 million euros today. The company’s entire team has long-term experience in the field of real estate development. Under the management of Capital Mill are numerous highly valued real estate objects in Estonia, Latvia, Lithuania.
NOBE, or Nordecon Betoon OÜ, is a company engaged in general construction, contracting, and concrete work since 2000, offering a full construction service from design to building completion. Complex engineering buildings, office and production buildings and residential buildings are built under the supervision of NOBE engineers in Estonia, Finland, and Sweden. NOBE employs nearly 160 people.