AS Pro Kapital Grupp group company OÜ Marsi Elu and Nordecon AS concluded the contract for construction of four residential apartment buildings and semi-underground parking to be located in Kristiine City in Tondi. The construction works of the Kristina houses in the heart of the Kristiine district shall be carried out in 4 phases. The cost of the first construction phase will be over three million euros, to which VAT is added.
In the first construction phase a 5-story residential building with 31 apartments and semi-underground parking floor shall be completed. Construction works shall commence in November and the completion is planned for December 2017.
In addition OÜ Marsi Elu and Nordecon AS have agreed on option for the three remaining construction phases, exercising of which will result in 93 additional apartments and also Sõjakooli and Sammu streets will be accomplished together with utility networks. The cost of the whole project is more than 10 million Euros to which VAT will be added.
AS Pro Kapital Grupp CEO Paolo Michelozzi: „The development of Kristina buildings in Kristiine City is a major project. At the moment three buildings have already been completed in Kristiine City and is a home for more than 100 people, now we start the development of a new stage. Kristiine City is a new integral living environment in Kristiine district, developed by Pro Kapital according to the values of 21st century: green, environment-friendly and energy efficient.“
Nordecon AS Board Member Avo Ambur: „We have constructed already earlier in cooperation with Pro Kapital in this very beautiful and historical area. In 2014–2016 we constructed a building complex including three five-storey apartment buildings at Marsi Street. We are very pleased that the percentage of repeated customers is rising and the customers deliberately choose a reliable cooperation partner.”
Additional information about the Kristiine City at http://kristiinecity.ee/
AS Pro Kapital Grupp (www.prokapital.ee) is a leading real estate developer in Estonia, dealing with the development of contemporary major business and residential real estate projects in the capitals of Estonia, Latvia and Lithuania. Since foundation in 1994 the company has completed 20 development projects with total area for sale of approximately 190,000 square metres.
Nordecon Group (www.nordecon.com) comprises companies that are focussed on the project management of constructing buildings and civil engineering works, and general contracting. The Group’s companies are geographically situated in Estonia, Ukraine, Finland and Sweden. The Group’s parent company Nordecon AS is registered and located in Tallinn, Estonia. The group comprises more than 10 subsidiaries in addition to the parent company. The Group’s consolidated turnover in the 2015 financial year was 145.5 million Euros. At the moment Nordecon Group employs about 700 people. Since 18 May 2006 the parent company has been listed on the NASDAQ OMX Tallinn Stock Exchange.
Allan Remmelkoor
Member of the Management Board
Tel.: +372 6144 920
Email: prokapital@prokapital.ee