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Hepsor SOF starts construction of new apartment buildings in the Paevälja quarter

Written by Customer Service on . Posted in Public Companies.

On 4 June, Hepsor SOF OÜ, a joint venture of Hepsor AS and EfTEN Special Opportunities Fund, and construction company Mitt & Perlebach OÜ signed a contract for the construction of apartment buildings at Paevälja 7 in the Paevälja quarter of Tallinn. The contract value amounts to 10.2 million euros, excluding VAT. The construction contract covers both the apartment buildings and the supporting infrastructure, including roads, outdoor areas, and utility networks.

The development project comprises two apartment buildings with a total of 70 apartments ranging from one-room to five-room layouts, offering homebuyers a wide selection of homes of different sizes and floor plans. The total saleable area of the apartments is approximately 4,650 square metres. Construction works will be completed in the second half of 2027. Of the 70 apartments, 18 have been sold under contracts under the law of obligations.

The new A-energy-class buildings will feature modern and sustainable solutions, electric vehicle charging infrastructure, and dedicated bicycle and pram storage rooms. These features support an environmentally friendly lifestyle and provide residents with an energy-efficient and cost-effective living environment.

In 2023, Hepsor completed the Paevälja Hoovimajad residential development in the same area, which includes 96 apartments.

Within the Paevälja quarter, Hepsor SOF has the potential to develop approximately 270 new homes in several phases.

In addition, the detailed plan currently in force enables Hepsor to develop approximately 100 additional homes in future phases of the Paevälja quarter.

Together with the already completed Paevälja Hoovimajad development, Hepsor is developing approximately 470 homes and 4,200 square metres of leasable commercial space in the Paevälja quarter.

Further information about the project is available on the project website: https://hepsor.ee/paevalja/en/

Martti Krass
Member of the Management Board
Phone: +372 5692 4919
e-mail: martti@hepsor.ee

 Hepsor AS (www.hepsor.ee) is a developer of residential and commercial real estate. The Group operates in Estonia, Latvia and Canada. During our fifteen years of operation, we have created 2000 homes and nearly 44 000 m2 of commercial space. Hepsor is the first developer in the Baltic states to implement a number of innovative engineering solutions that make the buildings it constructs more energy efficient, and thus more environmentally friendly.  The company’s portfolio includes a total of 37 development projects with a total area of 195 300 m2. In addition, the Group is active in five projects in Canada, where the main activity is the preparation of detailed spatial plans for land, thereby achieving greater building rights.

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