Capital Mill has acquired another residential development project in the Laaneserva area of Viimsi municipality. The goal is to build a residential block for more than fifty families in this promising area.
The company under the management of Capital Mill recently acquired six properties totalling approximately 25,600 square metres, the detail plan envisages the construction of 66 terraced house blocks.
‘This is an important deal with which Capital Mill further expands its portfolio in the field of residential development,’ said CEO of Capital Mill, Kaarel Loigu. ‘We believe in the sustainable development of this area and the value of the environment. That is why we purchased new development properties next to the Laaneserva development, which is already in construction.’
According to Kaarel Loigu, active construction is underway on the existing Laaneserva property, where the planned completion date of the terraced houses is the end of summer 2024. The building permit application process is ongoing for newly acquired properties.
‘Potential buyers have great interest in the new green residential area. This is also proven by the fact that we have already sold five homes in just a few weeks,’ said Kaarel Loigu. ‘As the developers, we see that residential development projects with a good perspective do not go unnoticed by customers, and there is no lack of demand from those interested in buying homes, despite the current state of the market, where inflation continues to be high and Euribor is on the rise. In many ways, this is a time of opportunities, and the need for high-quality real estate continues to motivate Capital Mill to continue its pursuits in this field.’
In residential development, Capital Mill is also active in the Laaneserva, Luise 13, and Jakobi 17 development projects
CEO of Capital Mill
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