Market announcement

Title

Start of second phase of construction of Kindrali Houses

Message

On  3 February 2021, OÜ  Marsi Elu,  a company  belonging to  the AS Pro Kapital
Grupp  group, and Oma Ehitaja AS signed a contract for the construction of three
five-storey   building   complexes  in  Kristiine  City  residential  area.  The
construction  of Kindrali Houses is being carried out in two stages with a total
cost of 20 million euros including the VAT. In the first construction phase 129
apartments  in two  buildings with  parking spaces  under the  houses and above-
ground will be completed, c.a. 91.5% of the apartments have been already sold or
booked.  Due to high demand  for the residential premises  in Kristiine City, OÜ
Marsi Elu has decided to speed up development process and last week notified Oma
Ehitaja AS about the intention to start with the second construction phase i.e.,
third  building  as  per  signed  construction  contract.  In the second phase a
residential  building with 66 apartments will be built with estimated completion
in February 2023.

"I  am very pleased to  see that the development  of Kindrali Houses has been so
warmly  received  by  people,"  said  Paolo  Michelozzi,  the  Chairman  of  the
Management  Board of AS Pro Kapital Grupp. According  to him, it is a unique and
special  development  that  integrates  quality  in  materials and construction,
diverse architecture and a people-centered approach into a pleasant combination.

Kindrali  Houses will be built in the Kristiine City residential quarter with an
exciting history. Here we have already built Kristina Houses, restored Tondi 51
barracks  building, Marsi 6 lofts and this  spring completed Ratsuri Houses. The
contemporary and Nordic architecture of Kindrali Houses will bring a new kind of
diversity  to  Kristiine  City.  On  one  hand,  there is a tree-lined boulevard
surrounding  the houses with Brooklyn-like  high first-floor homes or commercial
premises that open directly onto the street. On the other hand, the spacious and
private  courtyard between  the buildings  with apple  trees, berry bushes, cosy
seating areas and play areas offers joy and activity for everyone. The versatile
development  of the Kindrali Houses will add lively atmosphere characteristic of
the  city centre to the  Kristiine City's garden city  milieu. The architects of
the  buildings and landscape of Kindrali Houses are the leading architect Indrek
Tiigi and Allianss Arhitektid and the interior architect is Galina Burnakova.

More information about Kindrali Houses can be found at
https://kindralimajad.kristiinecity.ee/en/
(https://www.globenewswire.com/Tracker?data=OaQBn1JGkZQwTEpf7tzu___mEOb-
HeY4ACEAIQ24VUFQwYlxFdOVmTaNQMPuCVp5ARMlHZuPFA71wmFPZhvJoFBTdBZ7R_f8BoxwL5VzqdUe
SInaESYnNwEn1X__AAMLDejrTBqFFxdRz-1dVC3g5w==)

Kristiine City is an integral and versatile living environment in the heart of
Tallinn, where functional city homes with the contemporary design are being
built. The garden-like and private Kristiine City is convenient and easily
accessible on foot, by bicycle, by car or by public transport. Kristiine City
has become a place highly valued by people.

More information about Kristiine City can be found at
https://www.kristiinecity.ee/en/
(https://www.globenewswire.com/Tracker?data=OaQBn1JGkZQwTEpf7tzu_5cY1DVfkHDrjA1g
v9nBXPBiX5nu8lkfqoJ3xXUfhXdrHLLkHM18u2d3-
gVmybXKl6TcikgJgT5D6w5qi8DvFRC59ioWUrBfJZnWvEwJhC-C)

AS Pro Kapital Grupp (www.prokapital.com) is one of the oldest real estate
developers in the Baltics, developing modern large-scale residential real estate
projects in the capitals of Estonia, Latvia and Lithuania. During more than 25
years of operation, Pro Kapital has completed more than 20 development projects
with a total saleable area of more than 250,000 square meters. The shares of AS
Pro Kapital Grupp are listed on the Nasdaq Tallinn Stock Exchange and the bonds
are listed on the Baltic bonds list and on Nasdaq Stockholm.

The  main activity of Oma Ehitaja AS (www.oma.ee) is the design and construction
of  buildings  and  facilities  using  general  contracting, design-construction
contracting  or full-time project management, as well as real estate and project
development.  Hundreds of  satisfied apartment  owners have  found homes  in the
houses built and developed by Oma Ehitaja.




Allan Remmelkoor
Member of the Management Board
+372 614 4920
[email protected] (mailto:[email protected])