Liven AS Expands Development Footprint with New Property
Strategic Acquisition by Liven AS
Liven Kodu 24 OÜ, a prominent member of the Liven AS group, successfully secured the acquisition of a new development site via an auction organized by the Land and Spatial Development Board. This acquisition marks a significant move in Liven's efforts to expand its operational footprint in Tallinn.
About the New Development Property
The newly acquired property spans approximately 13,300 square meters and is set to be transformed into a residential building complex that includes commercial premises. These developments are designed to enhance the living environment and cater to the demands of the community.
Planned Development Features
During the detailed spatial planning process, the exact specifications and construction volume of the project will be outlined. The strategic vision behind this acquisition emphasizes Liven’s commitment to contributing to urban growth through sustainable and community-oriented structures.
Implications for Liven AS
Andres Aavik, the Chairman of the Supervisory Board of Liven AS, highlighted that this acquisition is pivotal for the company's long-term growth strategy. The Haabersti district is recognized for its dynamic development market and competitiveness. With ongoing projects in the area, acquiring the Järveotsa tee 16c property ensures that Liven can continue providing new homes even after current endeavors are completed.
Confidence in Local Market
Aavik expressed strong confidence in the area's growth potential, as evidenced by the success of the Luuslangi development project. This project has seen a rapid sale of over half the units in its second phase, even before its completion. Liven believes that new developments will significantly boost the attractiveness and value of the Haabersti district, attracting more residents and businesses.
Financial Overview
The total value of the transaction amounts to EUR 1.1 million, with an anticipated overall investment of EUR 20 million for the upcoming project. The acquisition process is expected to conclude within two months, supported by financing derived from Liven’s recent green bonds offering.
Contact Information
For more details regarding this acquisition or other inquiries, please contact Joonas Joost, CFO of Liven AS. You can reach him at joonas.joost@liven.ee.
Frequently Asked Questions
What is the purpose of the new acquisition by Liven AS?
The acquisition is aimed at developing a residential complex with commercial premises in Tallinn's Haabersti district, enhancing local amenities.
Where is the new property located?
The property is situated at Järveotsa tee 16c in the Haabersti district of Tallinn.
What is the expected value of the development project?
The total estimated investment for the new project is EUR 20 million, with the acquisition valued at EUR 1.1 million.
How does this acquisition impact Liven AS’s future projects?
This acquisition allows Liven AS to maintain a steady pipeline of development projects in a rapidly growing area, ensuring continued growth.
Who can be contacted for more information about Liven AS?
Joonas Joost, CFO of Liven AS, can be contacted at joonas.joost@liven.ee for more information.
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