Scandium Kinnisvara OÜ was registered as Scandium Kinnisvara AS this week and the share capital was increased to 2.1 million euros. According to the management, this is a strategic step to better raise capital in the future and to take the first steps to possible listing on the stock exchange. The company’s goal is to enter the commercial and residential real estate sector to an increasing extent, applying maximum green innovation in its developments.
Maido Lüiste, CEO of Scandium Kinnisvara AS: “For the last year and a half, we have been working very purposefully in the direction of enlargement. The transformation of the company into a public limited company will help us to better raise capital from investors, both in the form of bonds and possible direct investments. We have strongly increased the real estate portfolio with several outstanding business developments and comprehensive housing development projects in Tallinn and its surrounding areas. As the interest of investors in our activities has been high, we do not rule out looking to the stock exchange in the future as well.”
Urmo Kallakas, Chief Financial Officer of Scandium Kinnisvara AS: “During the last year, we have undergone restructuring, consolidating all project companies under one group. As a result, a financially strong Scandium Kinnisvara group has been formed. The volume of Scandium Kinnisvara Group’s equity is currently over 7 million euros and we see it growing rapidly in the coming years.”
Of the residential developments, Scandium Kinnisvara is working on the Luige home project in Luige, a residential development in Laagri and a large-scale residential development project in Peetri.
In addition to a strong market position in residential real estate development, the company is active in the commercial real estate market -a high-rise building at the beginning of Peterburi tee, which will change the cityscape of Tallinn, and a business and living environment project together with Restate in North Tallinn, opposite Põhjala factory, are under development. However, the first to be under construction is a modern rental house with a co-living concept in Mustamäe.
During the last year, Scandium Kinnisvara’s portfolio has completed a co-living lifestyle rental house Newton Stuudiod on Kadaka Road in Tallinn and a luxurious DUO Loftid apartment building with many additional facilities in the Old Town of Tartu.