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

International Internet Magazine. Baltic States news & analytics Monday, 16.09.2019, 04:05

Estonia: Mitt & Perlebach to build business center in Tallinn's Tselluloos quarter

BC, Tallinn, 21.08.2019.Print version
The Estonian construction company Mitt & Perlebach has signed with Fausto Capital a contract as main contractor to complete the Fahle Park business park in 2020; the project represents an investment of close to 18.5 mln euros excluding VAT, reported LETA/BNS.

Fahle Park, to be built in Tallinn's historic Tselluloosi quarter, is a business park with a novel approach where all the historic and modern office buildings will be connected by a gallery with a glass roof housing an internal park with rich subtropical vegetation. To stress the beauty of the listed buildings, bamboo, citrus plants and other exotic plants will be planted in the park. 


Next to tropical plants and offices, several restaurants, entertainment establishments, sports clubs and providers of comfort services will move into the new development. In its center a car park for 1,200 cars will be built.


Kristjan Mitt, member of the board of Mitt & Perlebach, considers renovation of historic buildings always an exciting but at the same time complex challenge for builders. "Besides the contracting authority, one has to work together with the heritage protection authority. It's not possible to foresee everything and in the course of demolition always surprises will spring up whose prompt solution is one of the biggest challenges," Mitt said, pointing out that in the case of Fahle Park the volume of renovating the historic limestone facade alone is remarkably large. "In any case, Fahle Park will be a dignified environment for the companies moving there," he added.


Mitt & Perlebach is currently building the Hortes garden center in Tallinn's Lasnamae district. Last year the company completed a Rimi supermarket in Peterburi Road and a number of stock-office type buildings in different parts of the city. Work is in progress on the Rocca commercial building.


Fausto Capital board member Sven Mihailov said the companies' similar world outlook was the decisive reason in selecting the partner for such a huge project. "We too focus on the quality of work and adhering to high standards. In addition, speed and flexibility are very important to us. We teamed up with a strong main contractor, because as developer we want to be certain that the whole business quarter will start serving clients as scheduled," he stated.


Fausto Capital is a fully Estonian capital-based real estate developing company with a 15-year history active in developing, leasing and managing commercial, office and residential properties with a portfolio of more than 90,000 square meters of commercial and business space. Its assets exceed 150 mln euros.  

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