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Ülemiste City is a modern district located on the territory of the old Dvigatel factory in the immediate vicinity of Tallinn Airport. Ülemiste City houses a large number of innovative enterprises and its aim is to develop the 36-hectare Smart City into the largest knowledge- based economic environment in the Baltic countries.
The unaudited results of Mainor Ülemiste indicate record numbers in the turnover and profit of 2022.
The company’s turnover was 16.2 million euros, which is 24% higher than in 2021, and the net profit was 30.4 million euros, that is three times higher than last year. An important factor impacting the change in real estate value is mostly attributed to the completion of the new Alma Tomingas office building. The Alma Tominga building, which is planned to be awarded the energy and environmental sustainability LEED gold status, is an 11-story, over 20,000 square meter office building that is unique in Europe. Large international corporations such as Fujitsu Estonia and Breakwater Technology, as well as Estonian innovation and development leaders Skeleton Technologies and the Estonian Business and Innovation Agency, will be operating in the building.
Mainor Ülemiste is a subsidiary of Mainor AS, whose principal activity is the development of Ülemiste City, the largest business campus in the Baltics. A total of 167,000 square metres of leasable office space has been built on 36 hectares of the campus. It is home to nearly 500 companies and a work, study and living environment for more than 14,000 people.
Ülemiste City is being developed by Mainor AS, Mainor Ülemiste AS and Technopolis Ülemiste AS.
Ülemiste City is investing more than 20 million euros in the construction of the second Health Centre and further expanding the range of health care services and options offered. A construction permit was issued at the end of December for the seven-story building to be built at Sepapaja 12 in a year and a half. The main construction contractor is OÜ Fund Ehitus and the project is financed by a syndicate of SEB and Luminor banks.
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On January 1, Rauno Mätas joined the Management Board of Mainor Ülemiste AS. He has worked in the company since 2020 as a Development Project Manager and Head of Development.
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| Year | 1Q | 2Q | 6 months | 3Q | 4Q | 12 months |
| 2023 | 1Q | |||||
| 2022 | 1Q | 2Q | 6 months | 3Q | 4Q | 2022 annual report |
2021 | 1Q | 2Q | 6 months | 3Q | 4Q | 2021 annual report |
2020 | 1Q | 2Q | 6 months | 3Q | 4 Q | 2020 annual report |
2019 | 1Q | 2Q | 6 months | 3Q | 4Q | 2019 annual report |
2018 | 3Q | 4Q | 2018 annual report |
„Health and creating an environment that supports health is important for Ülemiste City. In the development of the new Health Centre, we followed the 3×3 health model created by the University of Tartu, which creates a basis for supporting the mental, physical, and social health of talents through the activities of the city, the employer, and the person themselves,“ said Kadi Pärnits, Chairman of the Management Board of Mainor AS, which is developing Ülemiste City. „With this focus in mind, we will build the second Health Centre to offer the community an even wider range of health care services, new field knowledge and cutting-edge technologies, and a new and innovative environment for service providers.“
„The building being completed as the second stage of the Health Centre is another example of the creation of a complete environment in the city – both in the construction and landscape architecture, we have focused on the function of the building, which is to heal people, maintain health, and improve the quality of life,“ said Ursel Velve, Chairman of the Management Board of Mainor Ülemiste AS. „Expectations for developing preventive health services and the environment in which the services are provided are high. The focus of service providers and consumers must shift from treatment to prevention. That is why we are bringing together the environment and service providers in the new building to help people better manage their health. High expectations and a growing need for services have in turn given confidence to start construction activities at a time when many developers are putting projects on hold due to difficult circumstances.“
„We are always happy to finance projects that promote the Estonian living environment and value the development of the residents. The Ülemiste Health Centre shows that our health care is moving in the right direction and that it is possible to be responsible in the development of commercial real estate as well,“ commented Anu Arnover, Head of the Real Estate Division of Corporate Banking at SEB.
The building is a seven-story flat-roofed monolithic concrete building with an enclosed net area of 9,450 m2. Natural organic forms have been used – bone structure, a network of neurons, patterns of tree bark and leaves, and the undulation of water. All movement inside the building is structured around the atrium with a glass roof located on the central axis of the building, passing through all floors. The atrium area has been designed with spacious curved stairs. Calm light and pastel colours are used in the interior architecture solution.
The idea of landscape architecture of the building focuses on the function of the Health Centre – healing people, maintaining health, and improving the quality of life. Landscaping is also based on environmental friendliness – local plants are used to create the most diverse environment possible, which would also attract various birds and insects.
The Health Centre and the Education Complex that will be built in its neighbourhood will create a dignified new block of buildings on the existing open parking area with an exciting landscape architecture that follows the strategy of the comprehensive green network of the city. In addition, the solutions for the green areas in the further development projects of both the Health Centre and the Education Complex have been based on a multifunctional way of use, offering opportunities for sports and games, as well as educational and relaxing activities in different zones of the green areas.
The energy label of the building corresponds to class A, which is ensured by the park of solar panels on the roof of the building. Outdoors, attention has been paid to environmental sustainability and biodiversity. Rainwater is collected and used for landscaping.
Construction of the building will begin in January 2023, and the planned completion date is July 2024. The project cost is 20.5 million euros, of which 15.4 million euros are financed by the syndicate of SEB and Luminor banks.
Rauno Mätas has a longstanding international experience in the field of architecture and real estate development. Previously, he has been an architect at Swiss Property and led development projects at Nobe Partners and Endover. On the Management Board of Mainor Ülemiste AS, his area of responsibility will be the development and construction projects in cooperation with the other Ülemiste City developers.
The Management Board of Mainor Ülemiste AS continues with three members – in addition to Mätas, the Chairman of the Management Board and CEO Ursel Velve and the Head of Customer Experience Julius Stokas.
Mainor Ülemiste is a subsidiary of Mainor AS, whose principal activity is the development of Ülemiste City, the largest business campus in the Baltics. A total of 167,000 square metres of leasable office space has been built on 36 hectares of the campus. It is home to nearly 500 companies and a work, study and living environment for more than 14,000 people.
Ülemiste City is being developed by Mainor AS, Mainor Ülemiste AS and Technopolis Ülemiste AS.
Additional information
Ursel Velve
Mainor Ülemiste AS, Chairman of the Management Board
ursel.velve@mainorulemiste.ee
+372 507 9781
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