Ober-Haus Real Estate Group is to build Tallinn’s first waterfront entertainment and leisure project in the Estonian capital’s Admiralty basin. The property and investment company, which is backed by America’s Apollo Real Estate Advisors and the UK’s Pelham Partners, has won a public tender for the port site and it plans a 45,000m2 retail, leisure and office development worth $43.7m.
Ober-Haus is considering themed restaurants, bowling, and is in discussions with Marriott for a possible hotel on the site. On land next to the basin, the real estate group plans to develop a 11,100m2 hypermarket-led scheme with Finnish retailer Kesko as the anchor tenant.
The port area is the gateway for ships and ferries from Finland and Scandinavia. Last year a total of 3.5m tourists visited Tallinn, with over half coming through the port.
US entrepreneur Paul Oberschneider established Ober-Haus in 1994 when he saw the opportunities in the region on a visit to explore his Estonian origins.
