Scandium and Evaraus Sign Strategic Partnership
Scandium Real Estate and Everaus Real Estate have entered into a strategic partnership to jointly develop and build more than 90,000 square meters of commercial and residential development in Luige and Peetri. The total investment volume is approximately 100 million euros.
According to Maido Lüiste, head of Scandium Real Estate, the goal is to combine the best practices of two strong real estate developers to offer clients maximally functional homes and business environments.
"Since home seekers are increasingly looking beyond the city limits, where the same budget allows for more comfortable living conditions and a greener environment, we as developers have also turned our attention toward municipalities bordering Tallinn. Together with Everaus, we can undertake truly large-scale projects by Estonian standards and move forward with them faster, which in turn adds value to the residents and employees of new developments – projects progress faster and are based on the best practices of two strong developers," commented Lüiste.
Janar Muttik, head of Everaus Real Estate: "The ongoing projects in Luige and Peetri both focus on creating complete living environments. The development volume of approximately 90,000 m2 is spread over the next five years and intensive work is already underway today. We plan a joint investment of approximately 100 million euros, which is a very large amount both in the Estonian context and from a Baltic perspective."
According to Muttik, the common ground with Scandium in development is finding the most optimal spatial solutions where every square centimeter would be maximally optimized and life-quality enhancing for residents, entrepreneurs, and employees alike.
"When you add to this Everaus's strengths as a general contractor and experience in creating suburban environments, and Scandium's passion for leading the green transition in the real estate sector and respect for the 15-minute city concept, the result can only be excellent real estate where residents, employees, and the region's visitors all feel comfortable," said Muttik.
Scandium Real Estate is a comprehensive Estonian real estate developer that focuses on developing complete living environments where everything needed for life would be conveniently nearby. Scandium develops quality of life.
Everaus Real Estate is a real estate developer with long-standing experience that creates cohesive and distinctive architecture residential and business environments. Everaus's focus is on functional spatial planning and energy efficiency.
