Record Year for Mainor Ülemiste with 9 Million Euros in Profits
Mainor Ülemiste AS, the developer of Ülemiste City had its most successful year ever – the 2018 sales were 8.8 million euros, up 14% in comparison with the year before and profits 9.3 million euros, a 10% increase from last year.
Mainor Ülemiste AS, the developer of Ülemiste City had its most successful year ever – the 2018 sales were 8.8 million euros, up 14% in comparison with the year before and profits 9.3 million euros, a 10% increase from last year.
According to Chairman of the Mainor Ülemiste Management Board Margus Nõlvak Ülemiste City has more than 10,000 employees and the hub is now larger than the town of Haapsalu. „Last year we completed the second office tower of the Öpiku Building, and could finally open Estonia’s biggest office building,” Nõlvak said. He listed other important developments of 2018: opening the parking house at Sepise 8 for more than 400 vehicles, introducing a smart parking system, which covers the whole hub, starting the construction of a full-service health centre and last but not least, the Lurich Building, which will have the first apartments in the whole hub, in addition to offices. The International House of Estonia and e-Estonia Briefing Centre were opened in the Öpiku Building – both important for attracting talent and investors to Estonia.
Nõlvak added that in 2018 the company had invested almost 18 million euros in constructing buildings and improving equipment and laid the foundation for several important future developments. The second phase of the 10-million-euro bond issue, amounting to 7.38 million euros, was conducted to secure funding for further developing Ülemiste City. From 1 February 2018 the bonds have been available for trade at the First North trading facility.
At the end of the financial year Mainor Ülemiste AS had owner’s equity worth 100 million euros and the value of investment property was 122.6 million euros, which is 20.6 million euros more than last year.
According to Chairman of the Mainor Ülemiste Management Board Margus Nõlvak Ülemiste City has more than 10,000 employees and the hub is now larger than the town of Haapsalu. „Last year we completed the second office tower of the Öpiku Building, and could finally open Estonia’s biggest office building,” Nõlvak said. He listed other important developments of 2018: opening the parking house at Sepise 8 for more than 400 vehicles, introducing a smart parking system, which covers the whole hub, starting the construction of a full-service health centre and last but not least, the Lurich Building, which will have the first apartments in the whole hub, in addition to offices. The International House of Estonia and e-Estonia Briefing Centre were opened in the Öpiku Building – both important for attracting talent and investors to Estonia.
Nõlvak added that in 2018 the company had invested almost 18 million euros in constructing buildings and improving equipment and laid the foundation for several important future developments. The second phase of the 10-million-euro bond issue, amounting to 7.38 million euros, was conducted to secure funding for further developing Ülemiste City. From 1 February 2018 the bonds have been available for trade at the First North trading facility.
At the end of the financial year Mainor Ülemiste AS had owner’s equity worth 100 million euros and the value of investment property was 122.6 million euros, which is 20.6 million euros more than last year.
