Estonia's Largest Residential Development of the Past Decade Is Complete

Housing development company Bonava completed its residential project in Haaberstis, Kakumäel, Pärnaõue with the final phase of development. Three completed apartment buildings on Printsu street were the last part of the Pärnaõue residential area, which is one of the largest private capital-based residential development projects of the past decade.

Construction of the first residential buildings in Pärnaõue began in spring 2008. Over more than ten years, 45 buildings with 740 apartments have been completed, providing homes for more than 1,500 residents. In the final phase, three two-storey Pärnaõue Premium Star residential buildings were completed in the quietest area of Pärnaõue, on Printsu street. New homes have already been handed over to the first clients.

„Pärnaõue has developed into a comprehensive residential area that is particularly suitable for families with children and active city dwellers who pursue an active lifestyle. We can say at Bonava that Pärnaõue has been one of the foundations of our success story, and Premium Star homes are an excellent way to conclude our large-scale development activities in Pärnaõue," noted Bonava Estonia's managing director Taavi Soorm.

The completion of the final phase marked the end of development for the entire Pärnaõue residential area. Next, Bonava will build Pikaliiva Kaarmaja, a horseshoe-shaped residential complex in Haaberstis, near Lake Harku. Over the next three years, four apartment buildings with 160 homes will rise in the area in two phases. In the same area, the final phase of Järveotsa Kodude was also launched this year. In the residential area near Lake Harku, a total of five apartment buildings with 174 apartments will be built, and the complete living environment with well-planned recreation and play areas will be completed by autumn 2023.

„In a situation where supply volumes have decreased, Bonava's momentum has not slowed down. On the contrary – this year we have launched new phases in Uus-Mustamäe and Järveotsa Kodudes in Haaberstis, and we continue with all new projects according to plan," said Bonava management member Lauri Laanoja.

In today's changing market conditions, the reliability and transparency of real estate developers become increasingly important for home buyers. As a responsible company, Bonava wants to confirm even in the current market conditions that regardless of possible increases in input prices, our existing principles of operation are maintained – buyers of a new home can be sure that the price stipulated in the sales contract is final and will not be subject to review during the construction of the home.

Learn more about Bonava's new developments: bonava.ee