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International Internet Magazine. Baltic States news & analytics Monday, 14.10.2024, 22:29

Hammerhead developing EUR 120 mln logistics park near Tallinn

BC, Tallinn, 08.12.2020.Print version
Real estate developer Hammerhead OU last week acquired land plots near Tallinn Ring Road and the intersection of Kurna and Tuhala roads in the territory of the rural municipality of Kiili near Tallinn for the development of a new logistics park, informs LETA/BNS.

The park, to be called Ringtee Aripark, is to cost about 120 million euros in total. 


Tomas Salamae, board member of the project's sales partner Restate Property Advisors OU, said in a press release that according to the spatial plan almost 350,000 square meters of production and commercial buildings can be established in the park.


Hammerhead's Board Member Rasmus Tali said that the construction of the logistics park spanning more than 20 hectares is estimated to take more than seven years.


"The crucial factor for us in making the decision was that the properties already have a valid detailed spatial plan, which enables to start with the project right away," Tali added. 


The park will be developed by Hammerhead OU and builder Eventus Ehitus OU. 




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