Construction, Estonia, Financial Services, Good for Business, Investments, Real Estate

Across the 15 hectares of the Noblessner quarter, BLRT will develop housing, business and leisure environments where, in addition to the marina and businesses, a 1,000 square meter arts center, virtual reality family center and restaurants will bring in visitors, BLRT said.

The multifunctional arts center to be completed by the end of next year will be built inside a former production unit of a submarine factory. It will provide 900 square meters of space for exhibitions and residency programs as well as an auditorium and open office space.

The main supporter of the construction of the arts center is Enterprise Estonia with the help of the European Regional Development Fund (ERDF), through which 865,500 euros will be allocated for the construction of the center. The project will be developed by Noblessner Arendus OU, a subsidiary of BLRT.

BLRT and the listed construction company Merko will also build new apartment buildings in the area. The Noblessner Home Port project includes the construction of four apartment buildings with 208 apartments and nearly 3,700 square meters of office and commercial space.

The Noblessner Home Port project is being developed by Kodusadam OU, a joint venture established in December 2014 by AS Merko Ehitus and BLRT Grupp AS, both of which own 50% of the company.