According to 1Partner Advisory senior consultant Tõnis Kõpper, who advises on the transaction, a global telecommunication company such as Ericsson deciding to build its new technology centre in Tallinn indicates that international large enterprises find the Estonian economic environment attractive and they are also not afraid to make very large investments here.
“It is one of the most important transactions of its kind over the last decade for the whole Baltic market. For us, it is a considerable challenge because there are not very many plots in Tallinn suitable for building such a facility and the enterprise’s profile emphasising on modern technology and innovation also had to be taken into account,” said Tõnis Kõpper.
According to Kõpper, Ericsson’s decision to build the technology centre in Tallinn, which costs more than 150 million euros, can also contribute to other international large enterprises of the same calibre finding Estonia on the map and seeing its great potential to invest here.
Ericsson signed the contract for the acquisition of the real estate in Ülemiste City, Tallinn, by the Estonian subsidiary and the transaction should be closed in the last quarter of 2024. All of Ericsson’s Estonian units will be brought together into the almost 50,000 square-metre technology centre. According to the current plans, the facility will be complete in the beginning of 2026.
1Partner Advisory is a member of the 1Partner Real Estate Group, which is a company that offers commercial real estate and
investment consultation services in the Baltics. Among other services, the company
provides transaction consultations, manages and assesses properties, gives strategic advice and can represent owners or
tenants.
The 1Partner Real Estate Group is the official partner of the world’s largest commercial real estate adviser JLL (Jones Lang LaSalle) within the Baltic region. 1Partner has branches in Tallinn, Tartu, Riga and Vilnius. The 1Partner Group provides real estate brokerage, appraisal, construction, development, management and investment management services.
Additional information:
Tõnis Kõpper
1Partner Advisory Senior Consultant