Hepsor 3TORNI OÜ, subsidiary of Hepsor AS, signed construction agreement for the construction of Ojakalda Kodud development project
Hepsor 3TORNI OÜ, Hepsor AS group company, and Mitt & Perlebach OÜ signed a construction agreement for the construction of Ojakalda Kodud development project on the border of Tallinn and Harku, on 25 August 2022. The value of construction agreement is approximately 14.1 million euros excluding value added tax. Considering the rapid increase in commodity prices and overall supply chain issues the construction agreement was signed as open-end agreement (cost plus agreement).
The construction of the three-tower residential building with 101 spacious family apartments will be completed in spring of 2024. The area is surrounded by several playgrounds and green areas. The three-tower residential building is located in vicinity of Lake Harku, the Harku-Nõmme health trail and has good connection with city center and other parts of the city either by public transport, bicycle or car.
According to Henri Laks, member of the Management Board of Hepsor AS, the Group continues with the development of planned projects such as Ojakalda Kodud and Manufaktuuri Kavrtal but is paying more attention to the risks associated with taking new projects to the sales and construction phase.
Additional information:
More information about Ojakalda Kodud project can be found at .
Anneli Simm
Head of Investor Relations
Phone:
e-mail:
Hepsor AS () is one of the fastest growing residential and commercial real estate developers in Estonia and Latvia. Over the last ten years Hepsor has developed more than 1,400 homes and 23,000 m2 of commercial space. Hepsor has been the first real estate developer in the Baltic States to implement a number of innovative engineering solutions that make the buildings we construct more energy-efficient and thus more environmentally friendly. The company's portfolio is comprised of 25 development projects with a total sellable space of 176,000 m2.
