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RNS - The subsidiary of Hepsor AS, Hepsor Phoenix 4 OÜ, has signed a construction contract for the development of apartment buildings at Manufaktuuri 12

Company: Hepsor Date: 2025-07-10 Language: English Register to download
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 The subsidiary of Hepsor AS, Hepsor Phoenix 4 OÜ, has signed a construction contract for the development of apartment buildings at Manufaktuuri 12

# The subsidiary of Hepsor AS, Hepsor Phoenix 4 OÜ, has signed a construction contract for the development of apartment buildings at Manufaktuuri 12

On  July  9, 2025, Hepsor  Phoenix  4 OÜ,  a  subsidiary  of  Hepsor AS, and the
construction  company Mitt & Perlebach OÜ signed a contract for the construction
of the development project named M12, located at Manufaktuuri 12 in Tallinn. The
total  value of the  construction contract is  7.0 million euros, excluding VAT.
The  development  will  include  two  apartment  buildings  with  a total of 49
apartments  and a total saleable area  of 3,090 m². Construction is scheduled to
be completed in the second half of 2026.

The  new  Class  A  energy-efficient  buildings  are  designed  with  modern and
sustainable  solutions, such  as smart  home systems,  electric vehicle charging
infrastructure, solar panels, and storage rooms for bicycles and strollers - all
aimed  at supporting  a greener  lifestyle for  residents and reducing ancillary
expenses.

?Obtaining the building permit and signing the construction contract with Mitt &
Perlebach  marks  a  significant  milestone  in  the  development  of the entire
Manufaktuuri  quarter. This  enables construction  of the  new homes to begin as
early  as  July  2025. The  Manufaktuuri  12 project  introduces modernity and a
connection  to  nature  to  this  historic  area,  while  honoring its story and
character," said Mihkel Mäger, Country Manager of Hepsor Estonia.

M12  is the fourth  development project by  Hepsor and the  Tolaram Group in the
Manufaktuuri  quarter. Previously,  421 homes have  been completed  in the Sitsi
Õunaaed  and M7 development projects, 96% of which  have been sold. In the third
quarter  of 2025, construction  is planned  to start  on the  first phase of the
Manufaktuuri Factory project, where 152 new homes will be built.

More information about the M12 project can be found at:
https://hepsor.ee/manufaktuur/m12/en/

Henri Laks
Member of the Management Board
Tel: +372 5693 9114
E-mail: \[email protected\] (https://www.globenewswire.com/Tracker?data=jXAkmmJfT-
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MsWlaRKjXr908S886ybYsNSZAIaU2iZ7UmrNBCqECdJXN0cHTuqahtnmqyR8vHg8ho63A==))  is  a
developer  of  residential  and  commercial  real  estate. The Group operates in
Estonia,  Latvia and  Canada. In  fourteen years  of operation,  we have created
2 076 homes  and  nearly  36 300 m(2) of  commercial  space. Hepsor is the first
developer  in the Baltic States to  implement a number of innovative engineering
solutions  that will make the buildings it builds more energy efficient and thus
more  environmentally friendly.  The company  has a  portfolio of 25 development
projects with a total area of 172 800 m(2).