Skip to main content

The subsidiary of Hepsor AS, Hepsor Phoenix 4 OÜ, has signed a construction contract for the development of apartment buildings at Manufaktuuri 12

Written by Customer Service on . Posted in Public Companies.

On July 9, 2025, Hepsor Phoenix 4 OÜ, a subsidiary of Hepsor AS, and the construction company Mitt & Perlebach OÜ signed a contract for the construction of the development project named M12, located at Manufaktuuri 12 in Tallinn. The total value of the construction contract is 7.0 million euros, excluding VAT. The development will include two apartment buildings with a total of 49 apartments and a total saleable area of 3,090 m². Construction is scheduled to be completed in the second half of 2026.

The new Class A energy-efficient buildings are designed with modern and sustainable solutions, such as smart home systems, electric vehicle charging infrastructure, solar panels, and storage rooms for bicycles and strollers – all aimed at supporting a greener lifestyle for residents and reducing ancillary expenses.

„Obtaining the building permit and signing the construction contract with Mitt & Perlebach marks a significant milestone in the development of the entire Manufaktuuri quarter. This enables construction of the new homes to begin as early as July 2025. The Manufaktuuri 12 project introduces modernity and a connection to nature to this historic area, while honoring its story and character,“ said Mihkel Mäger, Country Manager of Hepsor Estonia.

M12 is the fourth development project by Hepsor and the Tolaram Group in the Manufaktuuri quarter. Previously, 421 homes have been completed in the Sitsi Õunaaed and M7 development projects, 96% of which have been sold. In the third quarter of 2025, construction is planned to start on the first phase of the Manufaktuuri Factory project, where 152 new homes will be built.

More information about the M12 project can be found at: https://hepsor.ee/manufaktuur/m12/en/

Henri Laks
Member of the Management Board
Tel: +372 5693 9114
E-mail: henri@hepsor.ee

Hepsor AS (www.hepsor.ee) is a developer of residential and commercial real estate. The Group operates in Estonia, Latvia and Canada. In fourteen years of operation, we have created 2 076 homes and nearly 36 300 m2 of commercial space. Hepsor is the first developer in the Baltic States to implement a number of innovative engineering solutions that will make the buildings it builds more energy efficient and thus more environmentally friendly. The company has a portfolio of 25 development projects with a total area of 172 800 m2.

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.