T1 entertainment center, ferris wheel made almost €1million profit in 2019

T1 mall and ferris wheel.
T1 mall and ferris wheel. Source: Siim Lõvi /ERR

Taevapark OÜ, which operates an entertainment center and a Ferris wheel at Tallinn's T1 shopping center, earned a profit of €953,000 last year with a turnover of €4.8 million.

At the end of 2018, the company opened an entertainment center at the T1 mall and the ferris wheel on the roof of the shopping center was completed last spring.

For the construction of the Ferris wheel, the project received a grant of €1.4 million from Enterprise Estonia for the construction of an international family tourism attraction, which accounted for 45 percent of the total cost of wheel construction.

Initially, the ferris wheel, which is 120 meters above sea level, was supposed to be completed in October 2018, but its construction was postponed due to the lack of materials needed to build the wheel.

The construction of the wheel with all the necessary infrastructure cost the company €5-6 million, the cost of the construction of the wheel itself was €3.2 million euros, BNS wrote last year.


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Editor: Helen Wright

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