Ülemiste Center

What Ülemiste Center does

Ülemiste Center is a shopping and entertainment complex operated by Ülemiste Center OÜ, a privately held Estonian private limited company headquartered at Suur-Sõjamäe 4, Tallinn. Strategically located approximately five minutes from Tallinn Airport and adjacent to the Ülemiste City business district and the planned Rail Baltica terminal, the center serves as a regional retail, dining, and entertainment destination. It hosts more than 200 stores and service providers, nearly 30 restaurants and cafés, a six-screen Apollo Kino (500 seats), a trampoline and escape-room venue (Trampolino), a children's play area (Seiklusmaa), and a 24/7 fitness center (Gym!), attracting roughly 20,000 visitors per day across local consumers, families, and airport-adjacent tourists. The asset has ~2,000 parking spaces, EV charging stations, secure Bikeep bicycle parking, and is highly accessible by tram, bus, train, car, and bicycle.

The center operates a hybrid landlord-plus-amenity business model. Primary revenue is rental income from the 200+ retail and service tenants, supplemented by parking fees (€1 per 30 minutes after 5 free hours, capped at €12/day), gift card sales (valid 1 year), in-center advertising (managed by Megameedia OÜ), and amenity services such as locker, wardrobe, stroller/wheelchair rentals, package lockers, and gift wrapping. The underlying technology stack includes BREEAM-certified building management systems, AI-driven climate control via a partnership with R8 Technologies, smart waste compacting bins, automated number-recognition parking cameras, real-time visitor density monitoring, rooftop solar, and IoT-based beehive monitoring across 16 rooftop hives. Marketing is delivered through an integrated digital channel mix — website, Facebook, Instagram, email newsletter — augmented by signature recurring community events including the Ülemiste Night Run, Rohehäkaton (Green Hackathon with Garage48), and the Topeltkink charity Christmas fair.

Ülemiste Center has positioned sustainability and accessibility as core differentiators. The center holds BREEAM In-Use 'Very Good' certification — the highest among Estonian shopping centers — 100% renewable electricity for own operations, an 80% reduction in carbon footprint per m² since 2010, the Clean Air Label (Puhta õhu märgis), Responsible Business Forum bronze mark, and the SIIA SAAB accessibility mark. It has supported the Estonian Nature Fund since 2018 with over €300,000 in contributions. In 2023 the center launched the Rohehäkaton green hackathon and a green-asphalt parking pilot using lignin from Estonian company Fibenol; in 2024 it introduced an electronic donation system with donation matching across four charities, signaling a strategic evolution from pure real estate landlord toward a community-engaged, ESG-branded retail destination.

Name

Ülemiste Center

Legal name

Ülemiste Center OÜ

Website

https://ulemiste.ee

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

Ülemiste Center is a privately held Tallinn-based shopping and entertainment complex hosting 200+ stores, ~30 restaurants, a cinema, and entertainment venues adjacent to Tallinn Airport. It serves ~20,000 daily local visitors, families, and airport-adjacent tourists through retail rentals, parking, gift cards, and amenities.

Ownership category

akta.pro rank

Product category

Shopping Mall / Retail Real Estate

NAICS

Amusement Parks and Arcades (7131), Fitness and Recreational Sports Centers (71394)

SIC

Services-Amusement & Recreation Services (7900)

akta.pro primary industry

Family Entertainment Centers & Indoor Amusement (Arcades, Trampoline Parks, Indoor Play) (THAAAAAD)

akta.pro secondary industry

Arenas & Indoor Sports Centers (MPAKAEAB)

Keywords

• Shopping center operations
• Retail property management
• Commercial real estate leasing
• Tenant leasing services
• Mall amenities management

Headquarters

HQ city

Tallinn

HQ country

Estonia

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Retail Rental Income: Ülemiste Center generates primary revenue through renting retail space to over 200 stores and service providers. Tenants include fashion brands, electronics, sports, home goods, beauty, restaurants, and entertainment providers.
2. Parking Fees: After 5 hours of free parking, customers pay 1€ per started 30 minutes, maximum 12€ per 24 hours. Additional revenue from electric vehicle charging stations.
3. Gift Cards: Sale of gift cards (both physical and e-gift cards) that can be used across tenant stores, restaurants, and services within the center. Cards are valid for 1 year from purchase.
4. In-center Advertising: Advertising space within the shopping center premises managed by Megameedia OÜ.
5. Amenity Services: Revenue from locker rentals, wardrobe services, stroller/wheelchair rentals, package lockers, gift wrapping, and other convenience services.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels9 records

Core offering

Ülemiste Center operates a large shopping and entertainment center near Tallinn Airport, leasing retail space to over 200 stores, services, restaurants and entertainment tenants. The center itself directly provides parking (free for 5 hours, then €1/30 min), gift cards, EV charging, visitor amenities (lockers, strollers, wheelchairs, gift wrapping, wardrobes), and in-center advertising space. Tenants include fashion brands (Zara, H&M, Reserved, Mango), sports (Nike), grocery (Rimi), cinema (Apollo Kino), trampoline park (Trampolino), children's playground (Seiklusmaa), and a 24/7 Gym!.

Differentiator

Problem solved

Functional benefit

Products and services

• Ülemiste Center Gift Cards
• Parking Services
• Visitor Amenity Services
• Electric Vehicle and E-Scooter Charging
• Topeltkink Charity Christmas Fair

Quantifiable outcome

• 100% renewable electricity usage
• +6 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature5 records

Partnerships

Ten partnerships are on record, tiered minor, core and major.

• MTÜ LasnaideeminorStrategic or Co-development Partner · 5 May 2023Partnership for establishing a free book exchange shelf at the center. MTÜ Lasnaidee initiated the public book exchange concept in Ülemiste Center, with the tree-shaped shelf located on the second floor in the green relaxation area.
• Eestimaa Looduse Fond (Estonian Nature Fund)coreStrategic or Co-development Partner · 1 January 2018Ülemiste Center has supported the Estonian Nature Fund since 2018, contributing over 300,000€ to sustainable forestry and environmental protection initiatives. The center supports ELF's sustainable forestry program and forest owner advisory website. Cooperation includes the Pokumaa nature trail and educational seminars.
• R8 TechnologiescoreTechnology or IntegrationPartnership for automated climate control and environmental monitoring systems. R8 Technologies provides AI-driven solutions for optimizing energy consumption while maintaining high indoor air quality standards. The technology enables real-time monitoring and adjustment of ventilation systems.
• Garage48majorStrategic or Co-development PartnerOrganizational partner for the Ülemiste Rohehäkaton (Green Hackathon) - a 24-hour innovation event addressing sustainability challenges in retail. Garage48 provides organizational expertise for running the hackathon and connects the center with mentors and innovators.
• Megameedia OÜminorGTM or Marketing PartnerAdvertising partner for managing in-center advertising space and campaigns. Contact: [email protected], +372 53 029 529
• Eesti HoiuraamatukoguminorOthersProvided books for the public book exchange shelf initiative.
• GoProperty ParklateenusedminorImplementation/ SI/ Consulting PartnerConstruction partner for installing green asphalt in the parking lot (700 m2 area, 110 tons of green asphalt).
• Eesti Loomakaitse SeltsminorStrategic or Co-development PartnerOne of four organizations supported through the inclusive donation system. The center matches donations made at the donation terminal, doubling the impact.
• Tartu Ülikooli Kliinikumi LastefondminorStrategic or Co-development PartnerOne of four organizations supported through the inclusive donation system. The center matches donations made at the donation terminal, doubling the impact.
• Eesti Punane RistminorStrategic or Co-development PartnerOne of four organizations supported through the inclusive donation system. The center matches donations made at the donation terminal, doubling the impact.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Solaris Keskus: Tallinn shopping, dining and entertainment complex featuring cinema and restaurants; comparable as a multi-use retail/destination center in the same city.
• Viru Keskus: The other major downtown Tallinn shopping center, directly competing with Ülemiste for foot traffic, anchor tenants, and tourist spend in the same city.
• Kristiine Keskus: Tallinn shopping center with similar retail and entertainment mix, directly competing for the same local consumer and family demographic.
• Rocca al Mare Keskus: Large Tallinn shopping center operated by Citycon, comparable in scale, tenant mix, and family entertainment offering to Ülemiste.
• Stockmann (Baltics): Department store chain with a Tallinn location, directly competing for fashion and lifestyle retail spend with comparable department-store anchor positioning.
• Tallinna Kaubamaja (Tallinn Department Store): Iconic Tallinn department store competing for fashion, beauty, and general merchandise spend; operates as a flagship retail destination in the same catchment.

Broad incumbents

• ECE Projektmanagement: European shopping center developer and operator running many of the continent's largest destination malls; broadly comparable as a multi-asset mall operator with similar tenant mix and family entertainment focus.
• Klépierre: Major European shopping center operator with comparable destination mall portfolio, retail mix, and tenant relationships across continental Europe.
• Citycon: Nordic shopping center owner/operator (including Rocca al Mare in Tallinn) operating multiple regional malls at scale; broadly comparable as a multi-asset retail real estate platform competing in the same Baltic market.
• Westfield / Unibail-Rodamco-Westfield: Global shopping center operator running flagship destination malls; comparable as a large-scale destination retail/real estate operator with similar tenant economics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/Ulemistekeskus
• Instagraminstagram.com/ulemiste_keskus

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ülemiste Center