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International Internet Magazine. Baltic States news & analytics Friday, 10.04.2020, 05:57

Estonia: Favorte developing EUR 12-15 mln commercial quarter in Mustamae

BC, Tallinn, 17.02.2020.Print version
Property developer Favorte is developing a new business quarter in the Tallinn suburb of Mustamae for an investment of 12 mln to 15 mln euros, informed LETA/BNS.

Over the next three years, commercial and office spaces, along with stock-office spaces, are to be developed on the plots situated at the addresses 3 and 5 Joostimae Road and 42b ja 42c Kadaka Road, formerly owned by the state-owned energy group Eesti Energia. The anchor tenant of the 17,000-square-meter business quarter will be Kadaka Trade Center (KTC), the developer announced.

It said the Kadaka area is far from having reached its full potential, as more commercial and residential spaces are to be built there in the near term.

"The area holds strong potential both due to its major traffic thoroughfares as well as proximity to the city center, and there's plenty of demand for more modern commercial spaces," Madis Lett, project manager at Favorte, said in a press release. 

Favorte OU, established in 1993, is an Estonian equity company. 

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