Endover CEO on summer developments: "This summer we achieved the strongest summer results in history"

Yesterday, Endover opened the construction of the Riviera Viimsi apartment building on Haabneeme beach with a spade-breaking ceremony, with 25% of the apartments already sold. Viimsi's most seaside apartments will be completed by the end of 2024 and symbolize seaside relaxation and a slow lifestyle. According to the head of Endover, market conditions do not hinder new developments.

"Endover feels stable and sustainable in today's market. We achieved the strongest summer results in history this summer, and our recently completed Volta quarter and Rocca high-rises have been very well received by clients. Based on this, we are confident to start construction on the next developments," said Endover board member Robert Laud.

25% of Riviera Viimsi apartments have already been sold before construction began. "The process cannot be taken lightly, but we are positive about sales – we need to start construction vigorously," Laud believes. "The seaside symbolizes freedom, relaxation and good emotions for people, which this development also provides. This is Viimsi's most beachfront development where apartments can be built at all. People are looking for a lifestyle and location with character, and they do so even in difficult times."

The development is financed by Coop Bank, which states that it is important to monitor the previous profile of developers when cooperating on major projects. "Endover is an experienced real estate developer who has managed to adapt well to an increasingly competitive market and changing macroeconomic conditions, and it is safe to work with such partners," said Coop Bank's head of corporate banking Arko Kurtmann. "During challenging times for real estate development, we must return to the fundamentals – this is a unique location in terms of Tallinn's surroundings, where people want to live for a long time. All important nuances have come together in this development," he added.

Instead of a traditional cornerstone ceremony, a spade-breaking ceremony took place on the fresh construction site, where a piece of the construction area was dug up. The stylish spades were designed by Viimsi Art School students. According to Henri Ärmus, board member of Metropol Construction, building so close to the beach will be an exciting and special process for them.