Keltic Global Estonia develops Baltics' largest Corporate Park (EE)

Keltic Global Estonia is developing NordShore Corporate Park in Estonia. Nordshore will be the Baltic's largest Corporate Park. The total area of NordShore Corporate Park is 78.2 hectares; the land plots sizes vary from 5,000 - 20,000 m², with a possibility to compound the plots.

The Corporate Park is situated on the crossway of Põhjaranna and Muuga Street, next to the largest port in Estonia, Muuga Harbour. The strategically advantageous location of NordShore Corporate Park makes it easily accessed by railway, road and sea transportation. Considering company's and employees needs, NordShore Corporate Park has a hotel that will accommodate visitors and clients, and retail premises to serve the local residents and people who work in the area. The Corporate Park will create an environment that supports the progress of the Maardu City to becoming the modern industrial area.

In order to facilitate growth of Muuga Harbour for the coming years, construction of remarkable new buildings is under way. The major investments planned in Muuga Harbour include the extension of the eastern side of the harbour and the development of Muuga Industrial Park.

By 2007, Tallinn and its vicinities will have some 684,000 m² of warehouse and industrial premises. Vacancy rate in new and modern facilities is close to zero, proving that the demand for industrial premises is high. Also a possible increase in prices should be considered, if the land and construction material prices will continue to grow.

Commercial Property Consultant Colliers International is the exclusive representative of the project. Selling of the land plots starts this months and the price starts from €100/m². The Park is ideal for companies who's business partner is Muuga Harbour, who's core business is related to harbours or who are planning to expand. Development of the communication network lines will start at the beginning of 2008.

The owner of the NordShore Corporate Park is planning to invest €350 million in this project. The project's funding will come outside from Estonia.

Source: Colliers

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