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The first two construction phases of Kalaranna Quarter will be carried out by Nordecon

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AS Pro Kapital Grupp group company OÜ Kalaranna Kvartal and Nordecon AS have
signed an agreement for the design and construction of the first two phases of
Kalaranna Quarter. The property of Kalaranna Street 8 in Tallinn will have eight
new buildings with 240 apartments, commercial premises and underground parking.
An integral part of the residential quarter is well-thought-out landscape
architecture and a beach promenade that largely preserves the existing natural
environment. The design and construction works will be carried out in smaller
stages and it is planned to start as soon as possible. The completion of the
project is currently scheduled for the end of 2021. The value of the contract is
EUR 40.5 million plus VAT. The project is confirmed to be financed by the
domestic LHV Pank.

"Thanks to its location near the Old Town, rich history and close proximity to
the sea, Kalaranna Quarter is undoubtedly one of the most unique areas in
Tallinn. It is a truly well considered and carefully thought-out living
environment that is both comfortable and appealing to its residents and visitors
alike," said Paolo Michelozzi, the CEO of AS Pro Kapital Grupp. According to
him, it is an integral environment, where modern metropolitan architecture,
thoughtful user experience through quality and aesthetics and a public urban
space meet. "The main idea of Kalaranna Quarter is of a safe, functional and
modern living environment, which, while emphasizing the region's specific
characteristics, is creating a whole new user culture and a world of values,"
emphasized Michelozzi.

"A project like the Kalaranna residential area, gives the construction company
the opportunity to prove itself professionally. Construction works with such
proximity to the sea and coastal area sets very high demands on engineering
solutions. The Kalaranna area is truly special for locals and tourists alike,
thus for the construction company a project like Kalaranna Quarter also means
great responsibility creating a high quality urban space," said Gerd Müller, the
Chairman of the Management Board of Nordecon AS. "Landscaping around residential
buildings values the views of the sea and surrounding landmarks such as
Linnahall, Patarei, Kultuurikatel and Oleviste Church," added Müller.

Landscape  design  of  Kalaranna  Quarter  aims  to create a multi-layered urban
structure  which works as  part of Tallinn,  connects the city  to the sea, both
visually  and logistically,  enriches the  city as  a whole,  and emphasizes the
region's  uniqueness. The area  will include the  Kalaranna Park, which offers a
variety  of  leisure  activities  such  as  outdoor  events,  skating  rinks and
playgrounds  being  a  part  of  an  open  city space. There will be underground
parking,  which ensures carefree and  convenient environment for pedestrians and
drivers  alike. The planned beach promenade starts at Kalaranna Street, adjacent
to  the Kalasadam and continues towards  Lennusadam. The natural sandy shoreline
will be preserved.

The  architects of  Kalaranna Quarter  are Mihkel  Tüür and Ott Kadarik together
with the team of architects from Kadarik Tüür Arhitektid. Kalaranna Quarter with
its  total area of nearly 39,000 m(2) will be  built in three phases. A total of
twelve  buildings will have a total gross area of approximately 38,300 m(2). The
buildings  will be adjacent to Linnahall and  Kalaranna parks and are planned to
have  four  to  five  storeys.  Facade  finishing will have different shades and
structures:  natural stone, wood, aluminium composite board and brick. According
to  the detailed  plan, a  single-storey, 20,000 m(2)  underground car park with
approximately  450 parking spaces is planned for the property. By the end of the
first two phases of construction the land area of approximately 31,500 m(2) will
be  developed  -  eight  buildings  with  a  gross surface area of approximately
25,600 m(2)  and 2/3 of the underground  car park with approximately 370 parking
spaces.

Elevators are planned into each building. The ground floors of the buildings are
designed  with commercial space  accessible from the  street. In addition to the
commercial  space, the  ground floors  have entrances  to the  stairwells of the
apartment buildings with storage areas for baby carriages or bicycles.



For   additional   information   about   the   Kalaranna  Quarter,  please  see:
www.kalaranna8.com (http://www.kalaranna8.com)

AS Pro Kapital Grupp (www.prokapital.com (http://www.prokapital.com/)) is one of
the leading real estate developers in Estonia, working on large-scale commercial
and residential real estate projects in Estonia, Latvia and Lithuania. Since its
establishment  in  1994, the  company  has  completed  more  than 20 development
projects  with the total sales  area above 250,000 square meters.  At the end of
2018 Pro  Kapital employed 89 people in  Estonia, Latvia, Lithuania and Germany.
The  shares of AS  Pro Kapital Grupp  are listed on  the main list of the Nasdaq
Tallinn Stock Exchange.

Nordecon  AS  (www.nordecon.com)  is  a  group  of  companies focused on project
management   and   general  contracting  for  building  and  civil  engineering.
Geographically,  the Group operates in Estonia, Ukraine, Finland and Sweden. The
parent  company of the Group, Nordecon AS, is registered and located in Tallinn,
Estonia.  The Group's consolidated  revenue for 2017 was  231 million euros. The
Nordecon  Group  currently  employs  around  700 people. As of May 18, 2006, the
shares  of the parent company are quoted on  the main list of the NASDAQ Tallinn
Stock Exchange.





Allan Remmelkoor
Member of the Management Board
Phone: +372 6144 920
E-mail: [email protected]