An Excellent Result: 35% Annual Increase in Mainor Ülemiste Profits

Last year ended with the best ever result for Mainor Ülemiste, the company developing the Ülemiste City campus: they earned 8.6 million euros of profit.

Last year ended with the best ever result for Mainor Ülemiste, the company developing the Ülemiste City campus: they earned 8.6 million euros of profit.

According to Margus Nõlvak, Chairman of the Management Board of Mainor Ülemiste 2017 was the most successful year ever for the company, with sales up 34% and profits 35% in comparison with the year before. “Every year we contribute to the further development of Ülemiste City, in order to create an even more convenient and inspiring working environment for the employees of the 380 businesses operating here,” Nõlvak added. He said that they had invested 16 million euros last year in the hub, raising the value of investment property to 102 million euros.

Last year the company concluded an investment contract with Nordea Bank in order to start building the second office tower of the Öpiku Building and the new parking house. Work also started on renovating an old factory building to turn it into a modern IT-centre. In 2017 an old Dvigatel assembly shop was also converted to make room for the gourmet restaurant Juur and MyFitness sports club, which has the largest gym and swimming pool in Estonia. In addition, the International School of Tallinn, offering tuition in English, started its activities in the campus last autumn and the Mainor Estonian Entrepreneurship University of Applied Sciences opened a new dormitory accommodating 80 students.

“Ülemiste City today is the size of a smart and active small town in Estonia – it has its educational establishments, everything from kindergarten to university, the airport and railway station are nearby and trams and buses connect the campus with the centre of Tallinn,” Nõlvak explained, adding that more people come to work every day to Ülemiste City than there are inhabitants in the town of Paide.

The core activity of Mainor Ülemiste is to develop the largest business hub in the Baltic States, located on the territory of the former Dvigatel factory, right next to Tallinn Airport. The campus lies on 36 hectares and has 120 000 m 2 of space to rent. There are more than 380 businesses employing almost 10 000 people in the hub. The developers of Ülemiste City are Mainor Ülemiste AS and Technopolis Ülemiste AS.

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