Liven AS Unveils Exciting Development Project
Liven AS has announced a new partnership with Oma Grupp OÜ, marking a significant step towards the realization of a major development project. This collaboration will lead to the establishment of a joint venture that focuses on enhancing the property located at Erika 6a and 6b in Põhja-Tallinn. The project is set against the backdrop of an existing detailed spatial plan and comes with the necessary building permit, which allows for the construction of innovative residential structures.
Details of the Project
According to the approved plans, the development will feature two six-storey residential buildings alongside a remarkable nine-storey structure that incorporates a reconstructed water tower. In total, there will be 68 new homes, providing a combined living area of approximately 4,900 square meters. This residential offering is designed to meet the growing demand for housing in urban settings, ensuring that future residents will have access to modern living spaces.
Timeline and Investment
The sales for the first residences are expected to commence in the summer of 2025, with construction slated to start towards the end of that year. The entire project is set to be completed by 2027. The firm PIN Arhitektid OÜ has been chosen as the architect, while Oma Ehitaja AS will serve as the general contractor. The estimated investment for this ambitious development exceeds EUR 16 million, underscoring Liven AS’s commitment to quality construction and sustainable development practices.
Liven AS’s Vision for Future Collaborations
Andero Laur, the chairman of the management board at Liven AS, expressed enthusiasm about the collaboration with landowners during a recent statement. He remarked, “Joint projects with landowners are a great opportunity for Liven to create homes in locations that are so good that they are not for sale.” This sentiment highlights Liven's strategic approach to securing prime real estate for development. Previously, Liven and Oma Ehitaja AS successfully completed the Iseära apartment buildings, demonstrating a strong foundation for future endeavors.
A New Chapter for Liven's Development Portfolio
Laur further elaborated on the excitement surrounding this new project: “We are also very pleased that we were able to once again supplement Liven's development portfolio with a project in an area where we did not have an active offer and which we can start selling in a relatively short period of time.” This project indicates Liven’s proactive approach to expansion, filling gaps in their portfolio and responding to market demand effectively.
Contact Information
For further inquiries, please reach out to Joonas Joost, CFO at Liven AS, via email at joonas.joost@liven.ee.
Frequently Asked Questions
What is the nature of the project announced by Liven AS?
Liven AS has entered into a partnership for a development project that includes the construction of residential buildings in Tallinn.
When will construction for the new project begin?
Construction is projected to start towards the end of 2025, with the sales of homes expected to begin in the summer of that year.
How many homes will be part of the new development?
The project will feature a total of 68 homes within the three planned buildings.
Who is involved in the construction of the project?
PIN Arhitektid OÜ is the architect for the project, and Oma Ehitaja AS is the general contractor.
What is the estimated investment for the project?
The total estimated investment for this development project is over EUR 16 million.
