Conclusion of construction contract of Ratsuri houses

On 11.02.2020, AS Pro Kapital Grupp group company OÜ Marsi Elu and OÜ Vanalinna Ehitus have concluded a contract for the re-construction of a stables building and additional construction of a new adjacent building as well as a semi-underground parking to be located at Marsi Street, in Kristiine City (herein Ratsuri Houses). Due to the positive demand for the residential premises in Kristiine City, a two-storey stables building is going to be restored and a new four-storey building are going to be constructed. A historic building from the beginning of 20^th century is going to be brought to life.

The completion of the Ratsuri building is planned for spring of 2021 and its construction cost is ca 3,5 million euros (including VAT) and 30 out of 39 apartments have already been pre-booked.

According to Paolo Michelozzi, the Chairman of the Management Board of AS Pro Kapital Grupp, Kristiine City has become a truly valued living environment. "We have brought an urban atmosphere to this historic location and, through development, have added value to the entire region. Kristiine City is much more than a collection of apartment buildings, it is somewhat expanding the concept of downtown. It is a distinctive and independent living environment - "a city within a city, while being an organic part of urban space. Marsi 5 project, named Ratsuri Houses, is a unique blend of contemporary architecture and historical character and will undoubtedly become one of the pearls of this area,” said Michelozzi.

The company is creating a holistic and unique habitat in Kristiine City, in the vicinity of the centre with homes with clever room plans, stylish design and a modern aesthetic, where one can enjoy greenery and privacy, but at the same time have access to convenient transport connections to downtown and other parts of the city. To date, dignified barrack buildings of Tondi 51 and lofts of Marsi 6 have been renovated and the Kristina houses project by Allianss Arhitektid has brought about 310 families to Kristiine City.

AS Pro Kapital Grupp (www.prokapital.ee) is a leading real estate developer in Estonia, dealing with the development of contemporary major business and residential real estate projects in the capitals of Estonia, Latvia and Lithuania.

For additional information about Ratsuri houses, please see: http://www.kristiinecity.ee/ratsurimajad and for Kristiine City habitat, please see: https://www.kristiinecity.ee/

OÜ Vanalinna Ehitus (www.vanalinnaehitus.ee) are focussed on facade and restoration works and general contracting.

Allan Remmelkoor
Member of the Management Board
Phone: +372 6144 920
E-mail: prokapital@prokapital.ee