The opening of the Porto Franco center has been postponed multiple times. Initially, the developer aimed to complete it by September 2020, then by the end of the first quarter of 2021. Last year, Tallinn fined the developer, Porto Franco OÜ, €90,000 for delays in construction.

Currently, Rauno Teder, chairman of the board of Porto Franco, is no longer offering any specific deadlines.

"When we have news, we will certainly announce it," Teder told ERR when asked about the project's completion.

He noted that the concrete work was completed in June 2021, and the final two cranes were removed as planned afterward. However, no work is currently taking place at the construction site.

"There is preliminary work and preparatory work happening, but it's in the office, not on the site," said Teder. According to him, two of the three development phases have been completed, and preparations for the final phase are underway.

In September, the construction site and underground parking levels will instead be used for filming the Finnish TV series "Seconds."

When asked how much the development costs have risen over time – given that the initial estimate was around €200 million, and the past few years have been marked by rapid price increases – Teder responded with a long pause.

"The construction market has fluctuated," he admitted. "At times it goes up, at times it goes down. Today is clearly a good time for building."

Porto Franco OÜ owns properties at Tallinn's Old Harbor between Admiralty Basin, Kai, Poordi and Laeva streets, covering a total area of 28,500 square meters. The planned business and commercial center will have a gross floor area of 150,000 square meters, including three underground levels and five above-ground floors.

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