News

10. Mar 2015

Nordecon entered into agreement for construction of seaside apartment buildings in Kadriorg

Nordecon AS entered into an agreement with OÜ Pikksilma Kodu, a subsidiary of Metro Capital real estate development company, for the construction of an apartment building complex by the sea in the subdistrict of Kadriorg in Tallinn. The construction cost of Pikksilma Kodu apartment buildings is approximately 4.8 million euros without the value added tax.

Nordecon AS entered into an agreement with OÜ Pikksilma Kodu, a subsidiary of Metro Capital real estate development company, for the construction of an apartment building complex by the sea in the subdistrict of Kadriorg in Tallinn. The construction cost of Pikksilma Kodu apartment buildings is approximately 4.8 million euros without the value added tax.

“It is a well known and familiar contracting entity for Nordecon, the same one to which we recently delivered the luxurious Meerhof Residence on Pirita tee, right next to the Flower Pavilion. It is very convenient to continue work with the same partner if you are able to cooperate well and your understanding of high-quality construction is the same,” said Avo Ambur, member of the management board of Nordecon AS. “In a near future, a home at Pikksilma will provide a beautiful and green living environment by the sea, supported by the tasteful architectural solution of the buildings.“

According to Avo Ambur, the Pikksilma Kodu building complex will be built in three stages. Once finished over the course of a few years, it will bring a total of 122 new apartments to the area. Construction work of the fists stage will begin in May 2015 and last for a year. The cost of completion of two buildings which will be built in the first stage and consist of a total of 39 apartments will be approximately 4.8 million euros.

Pikksilma apartment buildings will be built on the plots that used to hold a former oil harbour and an amusement park. The addresses of the new buildings will be Pikksilma 2/1, Pikksilma 2/2, Kiikri 3 and Tuukri 23. The buildings are designed by Hanno Grosschmidt, a renowned architect from HG Arhitektuur OÜ architectural bureau.