THE BEST COMMUNITY AND CONTACTS FOR COOPERATION 
AN INSPIRING ENVIRONMENT FOR CREATIVITY AND INNOVATION
WE ARE GROWING AND CREATING SPACE FOR YOU TO GROW AS WELL
WE PROVIDE THE SERVICES SO THAT YOU CAN FOCUS ON YOUR BUSINESS
EASY ACCESS AND GOOD CONNECTIONS
Ülemiste City is a modern district located on the territory of the old Dvigatel factory in the immediate vicinity of Tallinn Airport. Ülemiste City houses a large number of innovative enterprises and its aim is to develop the 30-hectare Smart City into the largest knowledge- based economic environment in the Baltic countries.
Mainor Ülemiste AS hereby announces that on 10 June it will redeem in full all 50,000 issued bonds (ISIN EE3300002138) with a total nominal value of EUR 5 million at maturity.
Ülemiste City, developed by Mainor Ülemiste, is an innovation- and collaboration-driven community that provides tenants with opportunities to accelerate growth, find strong cooperation partners, and maintain convenient connections with international stakeholders.
Mainor Ülemiste AS is a subsidiary of Mainor AS, whose core business is the development of Ülemiste City, the largest business campus in the Baltics. The 30-hectare campus comprises 170,000 square metres of leasable office space. Ülemiste City is home to approximately 400 companies and serves as a working, learning, and living environment for 18,000 people.
| Year | 1Q | 2Q | 6 months | 3Q | 4Q | 12 months |
| 2025 | 1 Q | 2 Q | 6 months | 3 Q | 4 Q | 2025 Annual Report |
| 2024 | 1 Q | 2 Q | 6 months | 3 Q | 4 Q | 2024 Annual Report |
| 2023 | 1 Q | 2 Q | 6 months | 3 Q | 4 Q | 2023 Annual Report |
| 2022 | 1 Q | 2 Q | 6 months | 3 Q | 4 Q | 2022 Annual Report |
2021 | 1 Q | 2 Q | 6 months | 3Q | 4Q | 2021 Annual Report |
2020 | 1 Q | 2 Q | 6 months | 3 Q | 4 Q | 2020 Annual Report |
2019 | 1 Q | 2 Q | 6 months | 3 Q | 4 Q | 2019 Annual Report |
2018 | 3 Q | 4 Q | 2018 Annual Report |
The audited consolidated annual report of 2025 were approved on 1 June 2026 by the Annual General Meeting Of Shareholders Of Mainor Ülemiste AS.
In 2025, the entity continued to develop Ülemiste City office campus, including the construction of new and modernization of already existing buildings, renting premises, providing tenants with necessary services and developing these services, preparing new real estate projects.
On 14 February 2025, Mainor Ülemiste AS signed a merger agreement with Smart City Group AS. Smart City Group AS was the majority shareholder of Mainor Ülemiste AS, holding approximately 60% of the shares in Mainor Ülemiste AS. The purpose of the merger was to finalize the process of involving an investor by merging Mainor Ülemiste AS and Smart City Group AS in such a way that the assets of Smart City Group AS were combined with those of Mainor Ülemiste AS.
The consolidated turnover of Mainor Ülemiste AS in 2025 amounted to 43,861 thousand euros (2024: 52,453 thousand euros), other operating income was 467 thousand euros (2024: 10,141 thousand euros) and net profit 14,361 thousand euros (2024: 51,884 thousand euros), including revaluation of investment property in the amount of 351 thousand euros (2024: 7,615 thousand euros). As of the end of the financial year the total equity of the company was 247,374 thousand euros.
A total of 8,764 thousand euros was invested in the construction of buildings and improvement of equipment in 2025.
As at 31 December 2025, the fair value of Mainor Ülemiste AS's investment property amounted to 456,950 thousand euros.
The audited consolidated annual report for 2025 of Mainor Ülemiste AS is available on the Nasdaq Tallinn web page.
In March 2026, Mainor Ülemiste AS (hereinafter Mainor Ülemiste) issued unsecured 4-year bonds with a nominal value of EUR 1,000 and a fixed annual interest rate of 6% in a total amount of EUR 9,614,000. The bonds were offered to Baltic investors through a private placement.
Following the issuance, Mainor Ülemiste has submitted an application to the board of the Nasdaq Tallinn Stock Exchange for admission of the new bonds to trading on the Nasdaq First North alternative market.
Mainor Ülemiste AS is a subsidiary of Mainor AS, whose main activity is the development of Ülemiste City, the largest business campus in the Baltics. The campus has 170,000 square meters of rentable office space built on 30 hectares. Ülemiste City is home to nearly 400 companies and a working, learning and living environment for 18,000 people.
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