Published: 2018-03-01 08:30:57 CET
Mainor Ülemiste
Company Announcement

AS Mainor Ülemiste increased its profits by 35%

AS Mainor Ülemiste, the developer of Ülemiste City, made its all times best results. Based on unaudited data the revenue was 7.7 million and the profit was EUR 8.6 million.

According to Margus Nõlvak, Chairman of the Management Board of AS Mainor Ülemiste, the year 2017 was the most successful year for the company. The turnover increased by 34% compared to the previous year, and the profit increased 35%. "We will contribute to the continuous development of the city every year in order to create an even more comfortable and inspiring working environment for more than 380 companies who have established their premises at Ülemiste City," added Nõlvak, who confirmed that AS Mainor Ülemiste made investments of EUR 16 million last year, which brought real estate investment value up to EUR 102 million.

Last year, the company signed a financing agreement with Nordea Bank AB, to start building  the second tower of the biggest office premises in Estonia. The renovation of the old factory building was started in order to turn it into a modern IT hub of Ülemiste campus. Restaurant Juur opened its doors in an old Dvigatel plant that was fully restaurated and refurbished, also MyFitness Sports Club premises was completed. In addition, Tallinn International School opened the English-language course last autumn, and Estonian Entrepreneurship University of Applied Sciences opened a new 80-person hostel-dormitory.

AS Mainor Ülemiste's main business is developing the largest business hub in the Baltic region on the grounds of the former Dvigatel plant. The Ülemiste campus with its 380 companies is employing 10,000 people today. Ülemiste City district is developed by Mainor Ülemiste AS and Technopolis Ülemiste AS.

         Mainor Ülemiste AS
         Valukoja 8
         11415 Tallinn, Estonia
         Phone: +372 5304 6992