Bonava Begins Construction of Next Phase in Uus-Mustamäe
Bonava is starting the next phase of home construction in Uus-Mustamäe, and at address Aiandi 18, a new 4- and 8-storey B-energy class building will house a total of 66 apartments with 2-4 rooms, ranging in size from 28 to 83 square meters. Construction work begins this week, and the new homes are planned to be handed over to clients by the end of 2025.
"We are finishing the Aiandi 14 building in Uus-Mustamäe. In this building and the recently completed Aiandi 16 house, nearly 2/3 of the homes have already found new owners by now, and based on the increasing number of interested parties, we can see that demand for new homes remains consistently strong in Uus-Mustamäe. As a result, Bonava made the decision to start construction work on the ninth phase in Uus-Mustamäe," explained Taavi Soorm, CEO of Bonava Estonia, regarding the company's investment decision. Aiandi 18 is the second project that Bonava has started construction on this year; in February, the groundbreaking also took place in Haaberstis at Pikaliiva Kaarmaja II phase, which will be completed by the end of this year.
"Sales figures for new homes in Tallinn have exceeded last year's results by 13% by now. Continued interest rate cuts are expected to have an impact on improved loan capacity and resulting further increase in transaction activity. For this reason, we are optimistic about the market situation and see sustained demand for affordable and energy-efficient new homes," added Lauri Laanoja, Head of Sales and Marketing at Bonava.
The first buildings in Tallinn's largest new residential district rose in 2020, and by now nearly 700 homes have been completed there. Bonava plans to continue developing the area in the coming years.
The Uus-Mustamäe residential quarter spans 126,000 square meters and is located in close proximity to major roads connecting Mustamäe with other city districts and various service providers. "Through the layout plan and landscape architectural solutions, a quiet, green, distinctly colorful and diverse neighborhood has been created. In addition to apartments for sale, Bonava has also created rental homes there, offering the opportunity to live in new apartments specifically designed as rental homes. Already 90 families are currently using this opportunity," described Laanoja.
This week, construction begins on phase 9 of Uus-Mustamäe, and at address Aiandi 18, a four-storey building with 22 apartments and an 8-storey building with 44 apartments will be completed. The residential buildings marked with B-energy class feature floor-to-ceiling windows for all homes and each apartment comes with a balcony, terrace, or roof terrace. The heart of the Uus-Mustamäe neighborhood is a nearly 7,000-square-meter park with various attractions and leisure activities.
