Liven AS - Acquisition Of A New Development Property In Tallinn, Lasnamäe District

2025-09-17 09:01:16

(MENAFN- GlobeNewsWire - Nasdaq) Liven Kodu 23 OÜ, part of the Liven AS consolidation group (Liven), won the auction organised by the Land and Spatial Development Board (Maa- ja Ruumiamet) in September 2025 for the acquisition of a development property located at Linnamäe tee 21a in Tallinn, Lasnamäe district, Kuristiku sub-district.

Although the exact construction volume will be determined during the detailed spatial planning process, we are planning a complete residential and commercial building complex on the nearly 8,700 m² property, which will create contemporary opportunities for living, working and leisure in the area.

According to Andres Aavik, Chairman of the Supervisory Board of Liven AS, launching a new development project in Lasnamäe is a step that meets market expectations.“We are very pleased to return to Lasnamäe and to supplement Liven's development portfolio with a district of great potential. The Kuristiku sub-district has excellent infrastructure – there are schools, kindergartens and good transport connections, which correspond to the 15-minute city principles. The city of Tallinn has contributed to the area by establishing parks and playgrounds. At the same time, not a single contemporary living space has been established in the area for nearly 30 years, although the demand for distinctive and high-quality homes is clearly present,” commented Aavik.

“Our previous experience in Lasnamäe has been very positive. Of landmark importance is also the fact that it was the project on Virbi Street in Lasnamäe, completed in 2017, that was the first development where Liven began to widely offer the option of additional interior finishing choices. The new development also complements Liven's portfolio well, which has so far been divided between the Haabersti, Pirita, Põhja-Tallinn, Kesklinn, and Nõmme districts,” Aavik added.

The value of the transaction is EUR 1.1 million and the estimated investment volume of the entire project is EUR 22 million. The property acquisition transaction will be completed within six weeks and Liven will use the funds raised from green bonds offering in financing of the transaction.

Joonas Joost
Liven AS CFO
E-mail: ...

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