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17.12.2024 08:00:00
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The subsidiary of Aktsiaselts Infortar is starting a new development project in Lasnamäe
The subsidiary of Aktsiaselts Infortar, INF Mustakivi OÜ, along with OÜ T-Bumani and Depo DIY EE OÜ, signed a construction agreement and a property lease agreement for the development of a Depo (DIY Store) in Lasnamäe. As part of the development project, a total of 30,000 square meters of retail space will be built on the property next to the Tallink Tennis Center. The environmental protection requirements necessary for the implementation of the construction permit have been fulfilled. The construction is expected to be completed by autumn 2026.
The CEO of Infortar Ain Hanschmidt comments:
"For Lasnamäe this means the addition of modern commercial space, for Infortar it represents an innovative collaboration project, the launch of the second phase of the Mustakivi property, and a valuable enhancement to our real estate portfolio.”
The transaction is not considered as a transaction beyond everyday economic activities or a transaction of a significant importance, nor it is regarded as a transaction with related persons, under the "Requirements for Issuers" section of the Nasdaq Tallinn Stock Exchange rules. The transaction does not have a significant impact on Aktsiaselts Infortar's activities. The members of the Supervisory Board and the Management Board of Aktsiaselts Infortar have no personal interest in the transaction in any other way.
Infortar operates in seven countries, the company's main fields of activity are maritime transport, energy and real estate. Infortar owns a 68.47% stake in Tallink Grupp, a 100% stake in Elenger Grupp and a versatile and modern real estate portfolio of approx. 116,000 m2. In addition to the three main areas of activity, Infortar also operates in construction and mineral resources, agriculture, printing, taxi business and other areas. A total of 105 companies belong to the Infortar group: 96 subsidiaries, 4 affiliated companies and 5 subsidiaries of affiliated companies. Excluding affiliates, Infortar employs 6,108 people.
Additional information:
Kadri Laanvee
Investor Relations Manager
Phone: +372 5156662
e-mail: kadri.laanvee@infortar.ee
www.infortar.ee/en/investor
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