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CONCLUSION OF THE CONSTRUCTION AGREEMENT OF VIIMSI CENTRE BUILDING

TALLINN, 16.09.2014, www.nasdaqomxbaltic.com - On 15 September 2014, Tallinna Kaubamaja Kinnisvara AS, subsidiary of Tallinna Kaubamaja AS, concluded a general contracting agreement with the construction company Nordecon AS for the establishment of a new, close to 14,000 m2 shopping and entertainment centre in Viimsi.

The contractual cost of the construction works is approximately 9.0 million euros to which VAT will be added.

The main tenant of the Centre is Selver AS that will open a hypermarket at the centre. In addition to different shops, the Viimsi Centre will accommodate various other service and entertainment providers. The construction works of the Viimsi Centre that is planned to be opened in the autumn of 2015 will commence in September of the current year. The shopping centre will be established on the 2.3-hectare registered immovable owned by Tallinna Kaubamaja Kinnisvara AS.

Raul Puusepp
Chairman of the Board