Nordecon and Pro Kapital Celebrated the Topping-Out Ceremony of Building 8 in Kalaranna Quarter

GALLERY: Nordecon and Pro Kapital celebrated as many as 8 building topping-out ceremonies at once at Kalaranna Quarter

The first 8 buildings of the Kalaranna Quarter rising at the edge of Tallinn's Old Town have reached their full height. On Friday, a topping-out ceremony was held to express gratitude to the large construction team working daily on the site. Construction work on the buildings being completed in the first construction phase of Kalaranna Quarter began at the end of 2019, and the project is planned to be handed over to the client in early 2022.

During the ongoing construction phase, 8 buildings, a city square connecting the buildings, and the Kalaranna park area will be completed on the property at Kalaranna Street 8. The harbor and beach areas will also be restored, where the existing natural environment is largely preserved. The quarter is designed as a car-free urban space where parking is completely underground.

"The versatile and architecturally enriching Kalaranna Quarter is undoubtedly one of the most anticipated urban quarters, which for the first time opens a dialogue between the sea and the city in the heart of the city," said Pro Kapital CEO Paolo Michelozzi. According to him, the seaside urban quarter, thanks to its location, becomes an important meeting point for both residents and visitors, which is also evident in the continuously high interest in both the quarter's homes and commercial spaces. To date, over 80% of the 240 apartments being completed in the ongoing construction phase have been sold or reserved. The company also recently announced that it has signed a pre-purchase agreement for all commercial spaces in the quarter.

"Much of the construction work on Kalaranna Quarter has fallen during the coronavirus pandemic period, which has set quite demanding conditions for us as builders in organizing the work, and especially this year has brought significant challenges in material supplies," commented on the construction work Priit Luman, member of the board of Nordecon AS. It is a very large-scale project, and according to Luman, a large team works daily on the construction of Kalaranna Quarter. "We are very pleased that under current conditions we can organize an almost traditional topping-out celebration for our construction team," added Luman.

Kalaranna Quarter, which matured over nearly a decade, was created in collaboration with architects Mihkel Tüür and Ott Kadarik (Kadarik Tüür Architects) and landscape architects Maarja Tüür and Kerttu Kõll (Sfäär Planning). The interior architect of the homes is Galina Burnakova.

The approximately 39,000 m² area of Kalaranna Quarter will be built in two phases. A total of twelve buildings will be constructed, with a combined gross floor area of approximately 38,300 m². The planned buildings are designed to be four and five stories tall. The facade finishing has different tones and structures: for example, natural stone, wood, aluminum composite panels and brick are used. According to the detailed plan, a single-story underground parking lot of approximately 20,000 m² with around 450 parking spaces is planned for the property. By the end of the first, ongoing construction phase, approximately 31,500 m² of land area will be developed with eight buildings with a gross floor area of approximately 25,600 m² and 2/3 of the underground parking with approximately 370 parking spaces.

Pro Kapital Group is a public company with more than 25 years of operating history that creates urban space-enriching, integrated and diverse living environments in the best locations of the Baltic capital. The company has developed approximately 270,000 m² of real estate and approximately the same amount is awaiting further development.

Nordecon Group comprises companies focused on project management and main contracting for the construction of buildings and structures. Geographically, the group's companies operate in Estonia, Sweden, Finland and Ukraine. The group's parent company Nordecon AS is registered and based in Tallinn, Estonia. The group's consolidated sales revenue for 2020 was 296 million euros. Nordecon Group currently employs approximately 710 people. Since 18.05.2006, the parent company's shares have been listed on the Nasdaq Tallinn Stock Exchange main list.