Hepsor SOF starts construction of new apartment buildings in the Paevälja quarter

On  4 June,  Hepsor  SOF  OÜ,  a  joint  venture  of Hepsor AS and EfTEN Special
Opportunities  Fund,  and  construction  company  Mitt  &  Perlebach OÜ signed a
contract  for  the  construction  of  apartment  buildings  at Paevälja 7 in the
Paevälja  quarter of Tallinn. The contract  value amounts to 10.2 million euros,
excluding VAT. The construction contract covers both the apartment buildings and
the  supporting  infrastructure,  including  roads,  outdoor  areas, and utility
networks.

The  development project comprises  two apartment buildings  with a total of 70
apartments  ranging from  one-room to  five-room layouts,  offering homebuyers a
wide  selection of homes of different sizes  and floor plans. The total saleable
area  of the apartments is approximately 4,650 square metres. Construction works
will be completed in the second half of 2027. Of the 70 apartments, 18 have been
sold under contracts under the law of obligations.

The  new A-energy-class buildings will feature modern and sustainable solutions,
electric vehicle charging infrastructure, and dedicated bicycle and pram storage
rooms.  These features support an environmentally friendly lifestyle and provide
residents with an energy-efficient and cost-effective living environment.

In 2023, Hepsor completed the Paevälja Hoovimajad residential development in the
same area, which includes 96 apartments.

Within   the   Paevälja  quarter,  Hepsor  SOF  has  the  potential  to  develop
approximately 270 new homes in several phases.

In  addition, the  detailed plan  currently in  force enables  Hepsor to develop
approximately 100 additional homes in future phases of the Paevälja quarter.

Together  with the already completed  Paevälja Hoovimajad development, Hepsor is
developing   approximately   470 homes   and  4,200 square  metres  of  leasable
commercial space in the Paevälja quarter.

Further  information  about  the  project  is  available on the project website:
https://hepsor.ee/paevalja/en/


Martti Krass
Member of the Management Board
Phone: +372 5692 4919
e-mail: [email protected] (mailto:[email protected])

 Hepsor                             AS                            (www.hepsor.ee
(https://www.globenewswire.com/Tracker?data=nrjUmrikd4WiI7Jx6Zi8oAm25-4Mr-
nJ3UstKKgKTnoTNeLO-fzGTWYMX6Xt4YQR_1YPF6c0T0zcs7LFTW5mJw==))  is a  developer of
residential  and commercial real  estate. The Group  operates in Estonia, Latvia
and  Canada. During our  fifteen years of  operation, we have created 2000 homes
and nearly 44 000 m(2) of commercial space. Hepsor is the first developer in the
Baltic  states to  implement a  number of  innovative engineering solutions that
make   the  buildings  it  constructs  more  energy  efficient,  and  thus  more
environmentally  friendly.  The  company's  portfolio  includes  a  total of 37
development  projects with a total  area of 195 300 m(2). In addition, the Group
is active in five projects in Canada, where the main activity is the preparation
of detailed spatial plans for land, thereby achieving greater building rights.