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PRESS RELEASE: Today’s topping-out ceremony celebrates construction of Promenaadi majad at the port area reaching its halfway

With today’s topping-out ceremony of the Peremaja building, the second part of the Promenaadi majad project that is being erected at Poordi Street in Tallinn, Capital Mill celebrates crossing of the halfway point in the construction work of the whole project.

Promenaadi majad as a whole consists of three distinctly different houses, which are yet in harmony with each other and with the environment: Linnamaja (Town House), Peremaja (Family House), and Kogukonnamaja (Community House). The first residents of Linnamaja moved in last December; fresh homeowners of Peremaja and Torn (the Tower) that are being erected together, will get the keys to their new homes in summer.

According to the CEO of Capital Mill, Mr Igor Mölder, Promenaadi majad is an essential and valuable part of the area around the Port of Tallinn, which in the coming years will become the wholesome heart of the city of Tallinn, which is appreciated by the clients too.

“In the development of Promenaadi majad as well as the commercial buildings Navigator and Explorer, we have paid special attention to making sure that everything from the smallest detail to the overall impression would be first class. The commercial buildings are completed and Promenaadi majad halfway in construction. Our vision of the new city centre is becoming reality,” said Mölder. “Peremaja (Family House) is a compact building that suits the best the demands of family life in the city centre. It is spacious and well planned, and one can get quickly and safely from here to school, to work and back home.”

Mölder expressed gratitude to YIT Ehitus, who has provided high quality in carrying out this demanding project and has been an open-minded and collaborative partner.

“YIT represents precisely those values that we consider important for Promenaadi majad as well as for other port area projects – quality, openness and orientation towards the best solutions,” Mölder said. “As a contracting authority, we are very demanding, but YIT has gone an extra mile in providing good work.”

Promenaadi maja is the first apartment building in Estonia that, in addition to regular central heating, also uses geothermal piles, which enable to achieve a significant reduction in heating costs. The heat released from the cooling system of the building, which is usually emitted into air, is also put to use. Such solutions have enabled level A energy label for the apartments. The residents of the house are free to use a car wash in the underground car park.

“The Promenaadi majad project is in many ways unique, and uses solutions that are unique in the Estonian context. Geothermal piles, spacious loft-type apartments with high ceilings, three buildings with special atmosphere,” Mölder added. “But the most important thing is that this is a good place to live in. There is space and comfort, individuality and personality here. These harmonize with people and the environment.”

Mölder added that in the recent decades, everywhere on the shores of the Baltic Sea, port areas of big cities have become people- and environment-friendly living and working environments, which are lively, innovative and fresh. “They have not just become the organic part of the city, but also the city’s most important and the most prominent part. I am confident that the port area of Tallinn will become just like that too,” he added.

Capital Mill is making a substantial contribution to the transformation of the area by the Port of Tallinn into the new heart of the city. Over the past two years, Navigator, the first commercial building in the Baltic States that has received a LEED Gold certificate for its high level of environmental sustainability, and Explorer, which earned an even higher, LEED Platinum certificate, have been completed.

The Promenaadi majad building has a common underground part, but on the ground it consists of three buildings with different appearance and functionality. Linnamaja (Town House), which was the first to be completed, is primarily intended for people who enjoy an urban lifestyle. Kogukonnamaja (Community House) has a common courtyard, which supports the community lifestyle, and Peremaja (Family House) as suggested by its name, is targeted to the needs of families.

The Promenaadi maja was designed in the offices of Arhitekt11 and is being constructed by YIT Ehitus.

Capital Mill OÜ was founded in early 2008 to help investors looking to acquire commercial real estate in the Baltic countries and generate value through high-quality property management services. The founders and partners of the company comprise a team with long-standing real estate and banking experience. The company’s investment portfolio consists of a large number of sought-after business properties in Estonia, Latvia and Lithuania.


Additional information

Igor Mölder


Capital Mill OÜ

+372 504 2505