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.
