Having until now invested in the development of residential and commercial real estate, Colonna announces that the new Liikuri development in Lasnamäe district completed in March has been its last residential development project, and the company’s main line of business will from now on focus on investments in commercial real estate.
The residential development project at the address Vana-Kuuli 15 / Liikuri 41 was completed in March 2019. The new residential environment built on the edge of Lasnamäe district comprises six 8-storey apartment buildings with underground parking garages, outdoor parking spaces, a children’s playground, landscaping and walkways. The buildings designed by architect Janno Põldme have a total of 198 flats of energy efficiency class B, which have all been sold out by now.
Colonna’s earlier residential development projects are townhouses on Jasmiini tee Street in Viimsi, apartment buildings in central Tallinn at Tatari 30, Villardi 22, and Komeedi 14; and a residential development comprising nine apartment buildings on Tohu Street in Pirita-Kose.
Colonna CEO Margus Kluge:
“Colonna’s main line of business has always targeted commercial real estate, but we also used to run various residential development projects at the same time. Taking today’s fierce competition on the market of residential real estate development in Estonia into account and regarding the sphere of commercial real estate as Colonna’s primary strength, this is where we have decided to invest even more of our energy from now on.”