Launch of a new residential development project Allveelaeva 2 in Noblessner seafront quarter (Tallinn, Estonia)

Merko Ehitus AS

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Kodusadam OÜ, a joint venture of OÜ Merko Kodud and AS BLRT Grupp, has decided to launch a real estate development project at Allveelaeva 2 (merko.ee/allveelaeva) in the Noblessner harbour district. The apartment building with 83 apartments and 6 commercial units will be completed in the beginning of 2027.

The apartments in the energy class A building range in size from 42 to 161 square metres and the price per square metre starts from 4,200 euros. Parking spaces are located on the ground and underground floors of the building, while the landscaped courtyard has recreation and play areas. The architectural design of the building is by Arhitektuuribüroo PLUSS.

Noblessner (noblessner.ee), a city district with a dignified history, has been designed to a contemporary living environment, where the residential buildings are surrounded by integrated urban space with squares, park areas, a seaside promenade and high quality recreational facilities. In cooperation between Merko and BLRT, four apartment buildings on Staapli Street, five apartment buildings on Vesilennuki Street and one apartment building on Allveelaeva Street have been completed in Noblessner.

Residential projects in Noblessner are being developed by Kodusadam OÜ, a joint venture, established in December 2014. AS Merko Ehitus Eesti and BLRT Grupp AS both own 50% of the company.

OÜ Merko Kodud (merko.ee/kodud) is Estonia's best-known and most trusted residential real estate developer. To ensure the best quality, convenience and assurance for home buyers, Merko manages all phases of the development: planning, design, construction, sales and warranty service.

Additional information: Kodusadam OÜ, Member of the Management Board, Mr. Tiit Kuusik, phone: +372 680 5154.

Urmas Somelar
Head of Finance
AS Merko Ehitus
+372 650 1250
urmas.somelar@merko.ee

AS Merko Ehitus (group.merko.ee) group companies construct buildings and infrastructure and develop real estate. We create a better living environment and build the future. We operate in Estonia, Latvia, and Lithuania. As at the end of 2024, the group employed 605 people, and the group’s revenue for 2024 was EUR 539 million.

The Estonian industrial group BLRT Group (blrt.ee) is one of the largest in the Baltic Sea region, which started its operations in Tallinn in 1912. Today the group unites 50 subsidiaries and 4 joint ventures, employing about 4,000 people in seven countries.

Attachments

• Allveelaeva 2_quarter
• Allveelaeva 2_house