Scandium Real Estate Enters Strongly into Commercial and Residential Real Estate
Scandium Real Estate enters strongly into commercial and residential real estate
Previously focused mainly on the development of rental housing, Scandium Real Estate is rapidly increasing its volume of operations. Several large residential developments aimed at families are under development in Luige, Laagri, and Peetri. In addition, a large-scale business quarter is underway next to the Põhjala factory on the Kopli peninsula, as well as a high-rise building at Tallinn's largest traffic junction – the intersection of Tartu Street and Petersburg Road.
According to Scandium Real Estate CEO Maido Lüiste, the expansion of the portfolio has been in the works for some time and the entire company has been working tirelessly toward it. Successful development of rental housing and the impressive reconstruction of historic buildings into modern apartment buildings has given the company a strong foundation from which to expand into new business directions.
Maido Lüiste, CEO of Scandium Real Estate: "Over the past few years, we have acquired several large development projects both in the quieter areas of Tallinn and in municipalities bordering the capital. Today we have over a thousand residential units in development. The vast majority of these apartments are large homes and townhouses designed for families. Our vision is to develop complete residential areas where all family members feel good and where everything needed for living would be at hand."
"The other half of Scandium's growth comes through large-scale commercial real estate developments. For example, together with Restate, we are developing the Bekker Quarter on the Kopli peninsula next to the Põhjala creative city. The entire Bekker Port area will be transforming into a vibrant living environment in the coming years with small businesses, cultural events, and everything needed for life. We are proud to contribute to the development of the area and help it become one of Tallinn's most valued environments," said Lüiste.
In addition to acquiring new development projects and expanding volume, other future-oriented changes have taken place in the company.
Kalle Aron, Innovation Manager and Partner at Scandium Real Estate: "At Scandium, we have set the goal of achieving maximally green solutions for all our developments. As a founding member of the Green Tiger representative organization, we strive for more than nearly zero-energy buildings, whether residential or commercial. To reflect our company's strong green essence and increasingly expanding scope also beyond that, we refreshed our corporate identity in the early summer and came out with a new website. Additionally, over the past year we have very deliberately supplemented our team with experienced specialists to ensure the best in-house combination of top experts from different backgrounds. As the latest addition, Carmen Kukk, former sales and marketing director of Pro Kapital's residential development, joined us in January, and her experience and contribution to our major residential developments can soon be seen."
Over the past year, Scandium Real Estate's portfolio has completed the Newton Studios co-living rental apartment building on Kadaka Road in Tallinn and the luxury DUO Lofts apartment building with many additional amenities in Tartu Old Town
The first in Estonia to systematically specialize in productive rental real estate and rental housing development, Scandium Real Estate was founded 5 years ago by Maido Lüiste, Kalle Aron, and Jaak Roosaar. Over the past three years, more than 450 apartments have been completed in both residential and rental apartment forms. The company's 2020 profit reached 1.9 million euros. Today, Scandium Real Estate is a comprehensive Estonian real estate developer focused on developing complete living environments where everything needed for life would be conveniently nearby. Scandium develops living quality.
