E.L.L. Real Estate signs with Elisa and SWECO as tenants

Having only reached the half-way mark of the construction of the brand new Sõpruse office building in Tallinn, E.L.L. Real Estate’s daughter company developing the building signed lease agreements for more than half of the 12 500 square meters of rentable space.

Latest agreements were reached with the local office of telecommunications company Elisa and the Baltics’ largest provider of consulting services in the fields of engineering, environmental technology and architecture, SWECO Project.

“We have leased out more than half of the rentable space and booked most of the rest while the building is still under construction,” said Mr Jaan Sild, sales manager of E.L.L. Real Estate. “This goes to prove that the demand for office space in the Baltic capitals still exceeds supplies.”

Unlike many others, the Sõpruse office building accommodates the individual needs of tenants during the construction period to provide for the specific requirements of each tenant.

CEO of SWECO Project, Mr Aare Uusalu said that moving into the new building will facilitate more than 200 architects and engineers employed by the firm with an up-to-date working environment with all the necessary health and comfort requirements. SWECO Project was established early this year through a merger of leading Estonian firms ETP Grupp, Eesti Projekt and SWECO Eesti.

“The engineering and architectural market is growing fast and the new offices will enable us to develop accordingly,” said Uusalu.

The 5-floor development is being constructed by Merko Ehitus and is due to be completed by the end of the year.

SWECO is the Nordic region’s leading provider of consulting services in the fields of engineering, environmental technology and architecture with 4300 employees in eight countries and a yearly turnover of 3.8 billion SEK in 2006. Currently the company is working in 50 countries across the world. SWECO Project’s main field of activity are building design, process and plant design, environmental protection, pre-investment studies and construction supervision. The company provides consulting, engineering and project management services for the public sector, industry and construction.