The Finnish real estate company Technopolis continues to grow according to its strategy. Technopolis and its joint venture partner in Estonia, Mainor, will invest approximately EUR 19.7 million in the expansion of the Ülemiste campus in Tallinn. The investment consists of three projects: a new office building, a parking house and renovation of a protected building into a grocery store. These will be launched once the building permits have been received.
Project |
Gross leasable area |
Investment |
Yield |
Estimated completion |
Office Building, Lõõtsa 12 |
9,700 m² |
EUR 13.6 million |
7.6 |
Summer 2018 |
Parking House, Lõõtsa 11 |
12,400 m² |
EUR 4.2 million |
7.6 |
Summer 2018 |
Grocery Store, Sepapaja 2 |
930 m² |
EUR 1.9 million |
7.6 |
Spring 2017 |
There is strong demand for modern office space and services in the rapidly growing Ülemiste City campus. The occupancy of the Technopolis Ülemiste campus is currently 98%. “It’s important to us to offer growth opportunities for both our existing and new customers in Tallinn. This includes renovating the campus to better serve the changing working life. Versatile services, such as a grocery store, make everyday life easier for our customers and boost the attractiveness of the whole area,” says Keith Silverang, CEO of Technopolis.
Technopolis entered the Tallinn market six years ago. “During our time in Ülemiste, the area has become the most attractive and fastest developing business district in Estonia and the biggest office area in Tallinn. As much as 12% of Tallinn’s office space is located in Ülemiste,” says Gert Jostov, Director of Tallinn Business Unit.
The investments will raise the rentable area of the campus to around 82,000 m².
Technopolis owns 51% of Technopolis Ülemiste AS, while Mainor holds 49%.
For more information, please contact:
Keith Silverang
CEO
Tel. +358 40 566 7785
Technopolis provides the best addresses for success in six countries in the Nordic-Baltic region. The company develops, owns and operates a chain of 21 smart business parks that combine services with flexible and modern office space. The company’s core value is to continuously exceed customer expectations by providing outstanding solutions to 1,700 companies and their 49,000 employees in Finland, Sweden, Norway, Estonia, Russia and Lithuania. The Technopolis Plc share (TPS1V) is listed on Nasdaq Helsinki.
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