Everaus Kinnisvara acquired a 100% stake in the Uus-Peetri development project, located in Rae municipality just outside Tallinn. The transaction reflects the company’s strategic decision to increasingly and on a larger scale focus on property development.
Until now, Everaus Kinnisvara has been active in both development and construction, but moving forward, its resources and expertise will be directed solely toward development. Construction services will be outsourced to general contractors. This shift allows the company to deepen its knowledge and expand its operations specifically in the development domain, making the full acquisition of the large-scale Uus-Peetri project a logical step
“At the heart of this strategic restructuring is our vision to create more than just real estate,” said Janar Muttik, founder and CEO of Everaus Kinnisvara. “Our goal is to build comprehensive living and business environments where various functions—housing, work, leisure, and services—are seamlessly integrated. Acquiring full ownership of the Uus-Peetri project supports the realization of this strategy and gives us the opportunity to bring our vision to life on an even larger and higher-quality scale.”
The Uus-Peetri development spans a 13.1-hectare site and includes nearly 59,000 m² of residential space (townhouses and apartment buildings) and 40,000 m² of commercial space. The project also integrates green areas and infrastructure designed to support community activities, such as the long-anticipated experience center in Rae municipality.
The total investment is estimated at €200 million, and the project is currently in the planning phase.
“We believe that with comprehensive planning, the Uus-Peetri development will create value not only for our clients and investors but also for society at large,” Muttik added.
