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ANNOUNCEMENT OF AN ARCHITECTURAL COMPETITION FOR THE TALLINNA KAUBAMAJA QUARTER

TALLINN, 12.06.2017, www.nasdaqbaltic.com - Today, June 12, an architectural competition is announced in cooperation with the Tallinn City Planning Department and the Estonian Association of Architects for renewing the Kaubamaja quarter - the registered immovables of 2 Gonsiori St. / 6 Rävala Ave. 

Tallinna Kaubamaja Grupp AS announced in a stock exchange release of 28 October 2015 that the subsidiary of Tallinna Kaubamaja Grupp AS, Kaubamaja AS, has begun renewing the Tallinn sales building erected in 1960. The result is a completely renewed modern city and shopping environment, which is substantially larger than the current sales area.

Today, on 12 June 2017, an architectural competition is announced in cooperation with the Tallinn City Planning Department and the Estonian Association of Architects for renewing the Kaubamaja quarter - the registered immovables of 2 Gonsiori St. / 6 Rävala Ave. The top architects in Estonia and international firms are expected to participate in the reputable architecture competition. The deadline for submitting competition entries is 21 September 2017 at 5 p.m.

As a result of the architecture competition, a new Kaubamaja sales building, a modern Rävala Avenue bureau building, and an underground parking lot will be constructed in Tallinn in collaboration between developers, architects, and the City of Tallinn. The area of the Kaubamaja building will increase by a two and a half times compared to the current solution.

Tallinna Kaubamaja Grupp AS will provide the stock exchange with information on the important steps, investment volumes, and further details regarding the construction of the new sales building in accordance with stock exchange rules.

Raul Puusepp
Chairman of Board