News

The property development company Hausers Grupp is set to construct Viieaia Torn, an 11-storey apartment block on Vana-Narva Highway on the outskirts of Tallinn which will feature 110 guest apartments and three commercial premises. Planned for completion in autumn 2025, the building is set to cost almost 12 million euros and will be financed by Coop Pank.

Hausers Grupp real estate sales manager Mati Meier says the apartment block is situated in an area with very good prospects. “It’s right on the border of Tallinn next to the rapidly developing business park on Vana-Narva Highway,” he explained. “What makes it special is its clifftop setting, which will produce some quite extraordinary vistas. There will be plenty of added value for residents generally, including a shared home-office space, a gym, a barbecue area and a rooftop terrace with sea views. The building is ideal for those in search of a new home or looking to invest.”

Coop Pank’s head of business banking Arko Kurtmann says the bank decided to finance the building’s construction because Hausers Grupp is such a trusted partner. “They’ve been operating for a long time now and have an enormous amount of experience,” he remarked. “They’re all about improving people’s living, working and recreational environments, and that’s exactly what they’re doing with Viieaia Torn: creating a modern, energy-efficient building with lovely apartments in a beautiful setting.”

The building will be the tallest in the area, rising to 11 floors. Designed to be as functional as possible, it will meet all of the norms and requirements of highrises, apartment blocks and office buildings alike.

Meier says the homes in Viieaia Torn will be priced from 93,900-146,400 euros, making it one of the most affordable developments close to Tallinn on the market today. “What we’re trying to do is make real estate available to as many people as possible without compromising on quality,” he said.

Viieaia Torn represents the latest step in the north-eastward expansion of greater Tallinn, where there has been a surge in investments since the reconstruction of the Vana-Narva Highway and Saha-Loo road and intersection.