Liven
Company Announcement

Acquisition of a new development property in Tallinn, Nõmme district

On 22.08.2024, Liven Kodu 22 OÜ, part of the Liven AS consolidation group (Liven), signed a contract under the law of obligations for the acquisition of a plot of land located at Kalda 5 / Käokõrva 1-12 in Tallinn, Nõmme district. According to the existing detailed spatial plan and the issued building permit, it is possible to build 12 three-storey residential buildings with a total of 72 apartments and a saleable area of approximately 6 000 m² on the property.

The total value of the transaction, including VAT, is EUR 3.1 million and will be paid in instalments during this quarter. Liven intends to use the funds raised by the green bonds in spring 2024 to finance the acquisition of the property.

Andero Laur, chairman of the management board of Liven AS: "We are delighted that we have once again acquired a suitable plot of land for new homes in Nõmme district. More than six years have already passed since the completion of our previous development in Nõmme, and during this time we have received many requests from clients for the next Liven homes. The previous experience in Nõmme was very positive and all the homes found their new owners already half a year before completion of the construction."

"We are also very pleased that the acquired property complements Liven's development portfolio, which includes developments in the districts of Haabersti, Pirita, Põhja-Tallinn and Kesklinn. The surrounding environment, the large yard area and the small-scale buildings support our plan to build family homes on the property, and according to Liven's value proposition, homeowners will be able to upgrade the layouts according to their own needs. The sales and construction of the development is planned in several phases and we plan to start the sales in 2025."

Joonas Joost
Liven AS CFO
E-mail: joonas.joost@liven.ee