About

Since our founding in 1997, we have been developing and managing real estate projects and creating quality environments for working, shopping and accommodation. We follow the long-term strategy: we manage the whole development cycle and we remain as property owners of the projects developed and everyday partner to our tenants. The company is 100% owned by Estonian capital.

Four countries — four capitals

Four countries — four capitals

2024 Consolidated Facts & Figures

Revenue

73

mEUR

Net profit

55

mEUR

Total investment

158

mEUR

Volume of assets

904

mEUR

54

Employees

Portfolio share

Gross area

523000

m2

GLA, m2

338000

Retail (40%)
Office (29%)
Industrial (22%)
Hospitality (9%)
Annual rental revenue, mEUR

73

Retail (56%)
Office (29%)
Industrial (6%)
Hospitality (9%)

Stewards of business estates

Stewards of business estates

Since our foundation we have been developing and managing our own properties creating the best spaces for working, shopping, staying, producing and shipping. Since 1997 we have developed approximately 600,000 m² of GLA, including divested projects. We are committed to projects that integrate seamlessly with their surroundings and contribute to the enduring vitality of urban environments. By designing with both current and future needs in mind, our properties serve not just tenants but the broader community, enhancing the well-being of people in cities for decades to come.

We prioritise thoughtful planning, community engagement and architecture that balances economic success with social responsibility, ensuring that our buildings remain valuable and relevant for generations. Our purpose is to set new, higher standards in real estate, to create spaces that are better places for people to live, work and shop in. We want to inspire industry-wide excellence, elevating the benchmark for sustainable and desirable environments. We are all shaping a future where value is not derived from ownership, but from use. In this future, which we are already seeing all around us, individuals and businesses thrive because Kapitel takes care of their physical environment.

Stewardship is our strategy: we manage the whole development cycle. We remain property owners of our developments and everyday partners to our tenants.

This is our mission: to be the preferred landlord across all our real estate segments, by consistently exceeding tenant expectations and building long-term relationships.

Our main distinguishing feature is the Kapitel brand and the quality image associated with it. This extends to all our business areas and developments and is expressed by:

• Long-term ownership or what we call stewardship;

• Highest quality standards and classifications;

• Financial strength and ability to self-finance;

• Diversification into four areas – retail, office, hospitality and industrial;

• Local approach pursuing geographical diversification and strong portfolios in the four capital cities of Estonia, Latvia, Lithuania and Czechia;

• Top portfolio brands and landmark properties;

• Long-term tenants and relationships with our customers;

• Universal design-led development, improving accessibility and usability for all guests and tenants of our properties;

• Standardised maintenance and use of common software solutions that even provide a feedback loop to our tenants;

• Automation and digitisation by applying the newest technology and artificial intelligence to improve efficiency and reduce costs.

A diverse and four-pronged portfolio including capital city office buildings, premium segment retail shopping centres in Tallinn, Riga and Vilnius; hospitality buildings designed for both short and longterm living and industrial buildings with logistically great locations.

We adhere to the 80/20 principle: twenty percent of our business focuses on real estate development while 80% is dedicated to long-term stewardship of the property. It is through stewardship that we leave our mark.

It is the mission of every one of us to make our tenants feel well cared for. Wherever and whenever needed, we have to be the best landlord and deliberately work to improve the user experience that positively affect our tenants, their customers and all stakeholders.

Urban spaces should never be become cold stone walls and monuments to vanity, but support and enhance the lives of people within them. To achieve this, we prioritise the people we work with and for, from our clients and their employees and clients, commercial property visitors and users, to the neighbours of our buildings and surrounding communities, as well as our employees and partners.

No matter how good we are today, we will stagnate if we lack the ambition to become even better tomorrow.

Strong and transparent leadership is vital, fostering internal growth by continuously developing our people’s professional skills and motivation, while driving the business forward from within. To achieve this every business area and every project must be given the attention they deserve by everyone of us, ensuring that we all recognise our role in the broader vision.

As continuously learning individuals and teams, we can be confident that our entire organisation will grow, improving our competitiveness, reputation and attractiveness on the market.

We care about sustainability

Sustainability is embedded in our core values, shaping the decisions we make and driving our vision. We prioritise long-term value and sustainability in every sense of the word. 

We care about sustainability

Giving back to society

Kapitel has been a successful business venture and we thrive by investing in the society and community we are part of.

Giving back to society

Awards

Real Estate Brand Value Study is the largest research-based branding survey in the European real estate industry, highlighting the strongest brands in the Baltics. According to the 2024 results, Kapitel is the strongest office developer brand in the Baltics. In both the retail and logistics real estate developer categories, Kapitel was among the top four strongest brands.

In 2025, Arter Quarter received the title of Best Office and Commercial Real Estate Development at the 2025 Baltic Real Estate Awards.