Construction, Estonia, Investments, Real Estate

International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 10:17

Estonian businessman Oleg Ossinovski invests EUR 7.8 mln in Porto Franco

BC, Tallinn, 18.01.2017.Print version
A new investor of the multifunctional Porto Franco complex in the Estonian capital's harbor area is businessman Oleg Ossinovski who has signed a contract for the establishment of a mortgage worth 7.8 mln euros for the plots, according the weekly Eesti Ekspress reports informs LETA/BNS.

Other investors in the Porto Franco development company are Lembit Lump and Heldur Meerits. According to Rauno Teder, son of businessman Hillar Teder who is the majority owner in the development, pension funds have also expressed interest in the project. Some of these want to join the development already in the developmental stage, while others prefer to join after the center has been built.


According to earlier information building the center would cost more than 100 mln euros.


Porto Franco is a complex of buildings with a seaside promenade to be erected by 2018 next to the Admiralty basin in Tallinn's port area. Retail, catering and office premises will make up most of the total area of approximately 150,000 square meters.






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