OÜ Marsi Elu, a subsidiary of AS Pro Kapital Grupp, has signed a contract for the construction of Kindrali Houses

On 3 February 2021, OÜ Marsi Elu, a company belonging to the AS Pro Kapital Grupp group, and Oma Ehitaja AS signed a contract for the construction of three five-storey building complexes (hereinafter Kindrali Houses) located in Kristiine City, in Tondi. The construction will be carried out in two stages with a total cost of 20 million euros including the VAT.

In the first construction phase 129 apartmentsand in the following  66 apartments with parking spaces under the houses and above-ground will be completed. Completion of the first two building complexes is planned for the summer of 2022 at the latest and more than 50% of the apartments have been already sold or booked.

According to Paolo Michelozzi, the Chairman of the Management Board of AS Pro Kapital Grupp, the company is pleased to start cooperation with Oma Ehitaja. "Kristiine City's residential area is highly valued by customers. Most of the new homes in Kristiine City find an owner even before the buildings are completed, which is why we are actively continuing the development of the area, ” said Michelozzi.

Kindrali Houses will be built in the Kristiine City residential quarter with an exciting history. Here we have already built Kristina Houses, restored Tondi 51 barracks building, Marsi 6 lofts and will complete Ratsuri Houses this spring. The contemporary and Nordic architecture of Kindrali Houses will bring a new kind of diversity to Kristiine City. On one hand, there is a tree-lined boulevard surrounding the houseswith Brooklyn-like high first-floor homes or commercial premises that open directly onto the street. On the other hand, the spacious and private courtyard between the buildings with apple trees, berry bushes, cozy seating areas and play areas offers joy and activity for everyone. The versatile development of the Kindrali Houses will add lively atmosphere characteristicof the city center to the Kristiine City's gardencity milieu. The architects of the buildings and landscape of Kindrali Houses are the leading architect Indrek Tiigi and Allianss Arhitektid and the interior architect is Galina Burnakova.

More information about Kindrali Houses can be found at https://kindralimajad.kristiinecity.ee/en/

Kristiine City is an integral and versatile living environment in the heart of Tallinn, where functional city homes with the contemporary design are being built. The garden-like and private Kristiine City is convenient and easily accessible on foot, by bicycle, by car or by public transport. Kristiine City has become a place highly valued by people.

More information about Kristiione City can be found at https://www.kristiinecity.ee/en/

AS Pro Kapital Grupp (www.prokapital.com) is one of the oldest real estate developers in the Baltics, developing modern large-scale residential real estate projects in the capitals of Estonia, Latvia and Lithuania. During more than 25 years of operation, Pro Kapital has completed more than 20 development projects with a total salable area of more than 250,000 square meters. The shares of AS Pro Kapital Grupp are listed on the Nasdaq Tallinn Stock Exchange and the bonds are listed on the Baltic bonds list and on Nasdaq Stockholm.

The main activity of Oma Ehitaja AS (www.oma.ee) is the design and construction of buildings and facilities using general contracting, design-construction contracting or full-time project management, as well as real estate and project development. Hundreds of satisfied apartment owners have found homes in the houses built and developed by Oma Ehitaja.

Allan Remmelkoor
Member of the Management Board
+372 614 4920
prokapital@prokapital.ee