Billion-Euro Development Planned Near the Airport
The Ülemiste City business campus on the territory of the former Dvigatel factory near the Lennart Meri airport continues to expand, hoping to boast a multifunctional urban space with 5,000 new residents in 15 years.
Presenting the future visions for the campus today, the developers demonstrated the architectural competition's winning entry, which will see the complex expand by a third. The estimated cost of the project is a billion euros, the TallinnCity, the online edition of the daily Postimees, reported.
The architectural design includes 200,000 square meters of office space (70,000 of which has already been completed), and 125,000 square meters of residential space. Extensive parking space, a green belt and various recreational facilities have also been planned.
The development of Ülemiste City began in 2005, and according to an agreement made in 2010, two thirds of the complex is developed by Mainor Ülemiste AS, while a third is developed by Technopolis Ülemiste AS.