Tallinn, 2014-05-28 07:00 CEST (GLOBE NEWSWIRE) --
AS Pro Kapital Grupp informs that on 30th of April 2014 the subsidiary of the group AS Tallinna Moekombinaat and AS Nordecon concluded the agreement for building excavation works of the shopping and entertainment centre located at Peterburi 2, Tallinn. The agreement enters into force upon AS Tallinna Moekombinaat´s notification to AS Nordecon about the handover of the construction site. On 27th of May 2014 AS Tallinna Moekombinaat sent the notification to AS Nordecon about the handover of the construction site and the agreement has entered into force.
On 27th of May 2014 AS Tallinna Moekombinaat has sent the notification to the City of Tallinn about the start of the construction works of the shopping centre located at Peterburi 2, Tallinn.
The planned duration of the excavation works is 3 months with the aim to finish the preparation works of the construction of the shopping centre and the selecting of the main constructor for the shopping centre is under process.
AS Pro Kapital Grupp shall inform the investors upon conclusion of additional binding construction agreements.
The comment of the Member of the Management Board of AS Tallinna Moekombinaat, Allan Remmelkoor: „The preparation process goes as planned. The entertainment complex of the shopping centre on 12 000 sqm is covered with rental arrangements, the surrounding new infrastructure – the tunnel leading to the underground parking, access roads and also the prolongation of the 4th tram line until our territory – have been completed. The creation of new fields of activities, convenient access roads and good connectivity with public transport are the cornerstones for the success of every new shopping centre. The next logical step now is the start of the excavation of the underground volume of the shopping centre.“
Additional information:
AS Tallinna Moekombinaat is a company established on 05.03.2008, the main field of activity of the company is the development of shopping center located on Peterburi road 2 Tallinn land plot. The planned shopping centre is one of the most dynamic shopping developments in the Baltics, located on the largest and most modern traffic junction in Tallinn within just a few minutes by car from the city centre and at the starting point of motorways to Tartu, Narva and Pärnu. The Shopping Centre shall accommodate more than 200 shops on ca 55,000 m² of GLA with the anchor tenant Selver hypermarket on ca 6000 m². The shopping centre will become part of the future major public transportation hub in Tallinn. The hub is the most important infrastructural development for the city in the coming years and shall feature, in addition to local connections, a transfer to the airport and the future Rail Baltica international train station.
Iveta Vanaga
Head of Investor Relations
Phone: +37129239064
E-mail: iveta@prokapital.lv
