Liven AS Secures Promising Development Property in Tallinn
Liven Kodu 23 OÜ, operating within the Liven AS consolidation group, has successfully won an auction conducted by the Land and Spatial Development Board for a significant development property.
Location and Development Plans
The newly acquired site is strategically placed in the vibrant district of Lasnamäe. Though the exact construction details will be finalized during the upcoming planning phases, Liven is looking to develop a comprehensive residential and commercial complex on this expansive property, which spans nearly 8,700 square meters.
Enhancing Living and Work Environments
This project aims to provide modern solutions for living, working, and leisure in the bustling area of Lasnamäe. As the Chairman of the Supervisory Board of Liven AS, Andres Aavik, stated, this initiative aligns well with the growing market demands for quality housing and facilities.
According to Aavik, returning to Lasnamäe allows Liven to enhance its development portfolio with opportunities in a district recognized for its potential. The area boasts well-established infrastructure including schools, kindergartens, and excellent transportation links, adhering to the principles of efficient urban living.
Previous Successes in Lasnamäe
Aavik further noted the positive experiences Liven has had in Lasnamäe, pointing to a significant development project completed in 2017 on Virbi Street. This project was notable for being the first where Liven introduced various interior finishing options, catering to buyer preferences. With this new acquisition, Liven aims to replicate and build upon those successes in the new development.
Investment and Financial Overview
The total value of this recent transaction reflects EUR 1.1 million, while the anticipated investment volume for the completed project is approximately EUR 22 million. The property acquisition is expected to be finalized within the next six weeks, and the financing for this transaction will utilize funds raised through Liven's green bonds offering.
Future Prospects and Community Impact
With this development, Liven AS strives to contribute significantly to the urban landscape and meet the burgeoning demand for high-quality living spaces in Tallinn. The ongoing efforts to enhance the region and provide modern residential environments reflect a proactive approach to community development and infrastructure improvement. This commitment not only supports urban growth but also enriches the quality of life for current and future residents.
Joonas Joost
Liven AS CFO
E-mail: joonas.joost@liven.ee
Frequently Asked Questions
What is the purpose of Liven AS's new acquisition?
The acquisition aims to develop a residential and commercial complex that meets the demand for quality living spaces in Lasnamäe.
How much is the investment for the new development?
The estimated investment volume for the entire project is EUR 22 million.
What was the previous development project in Lasnamäe?
The previous project was completed in 2017 on Virbi Street and offered various interior finishing options.
What benefits does the location provide?
The location has excellent infrastructure with schools and good transport links, promoting efficient urban living.
How will the acquisition be financed?
The acquisition will be financed using funds raised from Liven's green bonds offering.
