Published: 2019-10-21 08:00:00 CEST
Company Announcement

Construction contract (Kalaranna Quarter)

Nordecon AS and OÜ Kalaranna Kvartal, a subsidiary of AS Pro Kapital Grupp, have signed an agreement for the design and construction of the first two phases of Kalaranna Quarter. The property of Kalaranna Street 8 in Tallinn will have eight new buildings with 240 apartments, commercial premises and underground parking. An integral part of the residential quarter is well-thought-out landscape architecture and a beach promenade that largely preserves the existing natural environment.

The value of the contract is EUR 40.5 million plus VAT. The design and construction works will start as soon as possible and the completion of the project is scheduled for the end of 2021.

Nordecon ( is a group of construction companies whose core business is construction project management and general contracting in the buildings and infrastructures segment. Geographically the Group operates in Estonia, Ukraine, Finland and Sweden. The parent of the Group is Nordecon AS, a company registered and located in Tallinn, Estonia. The consolidated revenue of the Group in 2018 was 223 million euros. Currently Nordecon Group employs close to 680 people. Since 18 May 2006 the company's shares have been quoted in the main list of the NASDAQ Tallinn Stock Exchange.

Andri Hõbemägi
Nordecon AS
Head of Investor Relations
Tel: +372 6272 022