The Subsidiary Of Hepsor AS, Hepsor Phoenix 4 OÜ, Has Signed A Construction Contract For The Development Of Apartment Buildings At Manufaktuuri 12

(MENAFN- GlobeNewsWire - Nasdaq) On July 9, 2025, Hepsor Phoenix 4 OÜ, a subsidiary of Hepsor AS, and the construction company Mitt & Perlebach OÜ signed a contract for the construction of the development project named M12, located at Manufaktuuri 12 in Tallinn. The total value of the construction contract is 7.0 million euros, excluding VAT. The development will include two apartment buildings with a total of 49 apartments and a total saleable area of 3,090 m2. Construction is scheduled to be completed in the second half of 2026.

The new Class A energy-efficient buildings are designed with modern and sustainable solutions, such as smart home systems, electric vehicle charging infrastructure, solar panels, and storage rooms for bicycles and strollers – all aimed at supporting a greener lifestyle for residents and reducing ancillary expenses.

„Obtaining the building permit and signing the construction contract with Mitt & Perlebach marks a significant milestone in the development of the entire Manufaktuuri quarter. This enables construction of the new homes to begin as early as July 2025. The Manufaktuuri 12 project introduces modernity and a connection to nature to this historic area, while honoring its story and character,“ said Mihkel Mäger, Country Manager of Hepsor Estonia.

M12 is the fourth development project by Hepsor and the Tolaram Group in the Manufaktuuri quarter. Previously, 421 homes have been completed in the Sitsi Õunaaed and M7 development projects, 96% of which have been sold. In the third quarter of 2025, construction is planned to start on the first phase of the Manufaktuuri Factory project, where 152 new homes will be built.

More information about the M12 project can be found at:

Henri Laks
Member of the Management Board
Tel: +372 5693 9114
E-mail: ...

Hepsor AS ( ) is a developer of residential and commercial real estate. The Group operates in Estonia, Latvia and Canada. In fourteen years of operation, we have created 2 076 homes and nearly 36 300 m² of commercial space. Hepsor is the first developer in the Baltic States to implement a number of innovative engineering solutions that will make the buildings it builds more energy efficient and thus more environmentally friendly. The company has a portfolio of 25 development projects with a total area of 172 800 m².

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