What TERMAK does

TERMAK (legal entity: Termak Real Estate OU) is a privately held Estonian real-estate developer headquartered at Koidula 19 in the resort town of Narva-Jõesuu (Ust-Narva), on the Gulf of Finland. Its core product is a single elite residential complex of 34 apartments across two four-story sections, sited approximately 100 meters from a 13-kilometer sandy beach and surrounded by centuries-old pine forest. Construction technology is conventional European residential — ceramic-granite and glass facades, wood-aluminum triple-glazed windows, autonomous dual-gas-boiler heating, natural ventilation with mechanical exhaust, electric underfloor heating in bathrooms, and 19 underground plus 26 outdoor parking spaces. Apartment sizes range from 45.5 m² to 154.5 m², with balconies/terraces of 7.6–41.7 m², and pricing starts from 1,800 EUR/m². All 34 units are reported sold (продана).

The business runs on a one-time-sale, direct-to-consumer model: buyers contact a single sales office by phone, email, or in person, place verbal reservations valid for one working week, then sign a preliminary booking agreement. The go-to-market explicitly targets Russian-speaking buyers from Saint Petersburg (130 km away) and Moscow alongside Estonian elite and broader European buyers, leveraging the location's century-old resort heritage. Distribution is limited to one website (termakre.ee) and one sales office, supplemented by a minor referral partnership with Laus & Partnerid Law Office to assist non-residents with Estonian property acquisition. In addition to the completed complex, the company lists two undeveloped seashore land plots (5,704 m² and 3,255 m²) directly on the Baltic shore for sale or future development. No revenue, funding, headcount, or post-2008 operational data is disclosed in source material.

Name

TERMAK

Legal name

Termak Real Estate OU

Website

https://termakre.ee

Company type

Private

Operating status

Operating

Short description

TERMAK (Termak Real Estate OU) is an Estonian private developer that built and sold out a 34-unit elite seaside apartment complex in the Narva-Jõesuu resort on the Gulf of Finland, targeting Russian-speaking buyers from Saint Petersburg and Moscow plus Estonian elite, and is now marketing adjacent seashore land plots.

Ownership category

akta.pro rank

Product category

Luxury Residential Real Estate Development

NAICS

New Housing For-Sale Builders (236117)

SIC

Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Multi-Family Residential Construction (Apartments, Condos, Townhomes) (IMAFABAB)

Keywords

• Residential real estate development
• Luxury seaside apartments
• Beachfront property sales
• Resort condominium construction
• Vacation home development

Headquarters

HQ city

Narva-jõesuu

HQ country

Estonia

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Marketing or Sales, Personnel

Revenue model

1. Apartment Sales: One-time sale of residential apartments in the elite 34-unit residential complex. Each apartment is sold individually with prices calculated per square meter. Revenue is generated from the initial sale of completed residential units.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

TERMAK develops and sells an elite 34-apartment residential complex located approximately 100 meters from the sandy beach of the Gulf of Finland in Narva-Jõesuu (Ust-Narva), Estonia. The two-section, four-story complex features modern construction with ceramic granite and glass facades, wood-aluminum triple-glazed windows, autonomous gas boiler heating, and premium finishes. The company also sells two beachfront land plots totaling 8,959 m² on the Baltic Sea shore.

Product overview

TERMAK is a real estate development company offering luxury apartments and land in the resort town of Narva-Joesuu (Ust-Narva), Estonia, on the Gulf of Finland. The core product is the TERMAK Residential Complex — a 34-apartment, two-section, four-story elite building featuring modern construction with ceramic granite and glass facades, triple-glazed wood-aluminum windows, optional saunas, and underground/outdoor parking. The company also sells two land plots totaling 8,959 m2 located directly on the Baltic Sea shore. Additional offerings include basement storage units with each apartment.

Differentiator

Problem solved

Functional benefit

Products and services

• TERMAK Residential Complex An elite 34-apartment residential complex in Narva-Joesuu (Ust-Narva), Estonia, located 100 meters from a sandy beach on the Narva Bay. The two-section, four-story building features modern design with ceramic granite and glass facades, natural wood-aluminum triple-glazed windows, autonomous gas boiler heating, and optional sauna facilities. Apartment sizes range from 45.5 m² to 154.5 m² with balconies/terraces from 7.6 m² to 41.7 m².
• Beachfront Land Plots Two land plots located directly on the Baltic Sea shore totaling 8,959 m² (5,704 m² and 3,255 m²), available for development or private use.

Quantifiable outcome

• All 34 apartments sold (status: продана)

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Laus & Partnerid Law OfficeminorImplementation/ SI/ Consulting PartnerLaw office providing legal guidance on purchasing real estate in Estonia. Referenced on the TERMAK website as a resource for potential buyers seeking information about the legal process of acquiring property in Estonia.

Scale indicators5 records

Recent moves4 records

Expansion highlights3 records

Broad incumbents

• Nordecon: Estonian construction group with residential building operations alongside infrastructure and commercial work. Comparable as a broad Estonian construction incumbent that competes for residential development contracts.
• Skanska: Major Nordic-headquartered construction and real estate developer with residential project operations across Northern Europe. Comparable at the broadest level as a large-scale Nordic residential developer with established construction supply chain and brand.
• Merko Ehitus: Estonia's largest construction and real estate company, with significant residential apartment development across the Baltics. Comparable as the dominant Estonian incumbent; far larger scale but overlapping product category and geography.

Direct peers

• Hepsor: Estonian residential real estate developer focused on energy-efficient apartment buildings in Tallinn and surrounding areas. Closely comparable business model and product category as Termak's beachfront residential complex.
• Endover: Estonian residential developer delivering premium urban and suburban apartments. Comparable as a Baltic for-sale residential operator with similar unit-pricing approach and HNW targeting.
• Pro Kapital Grupp: Estonia-headquartered residential and commercial real estate developer with premium apartment projects in Tallinn and Riga. Directly comparable as a small-cap Baltic for-sale residential developer targeting HNW buyers.
• Kaamos Group: Estonian real estate group active in residential development and property management. Comparable as a domestic Baltic residential developer with both development and operating-asset exposure.
• Liven Kodu: Estonian premium residential developer building higher-end apartment homes with modern specifications and quality finishes. Highly comparable positioning, product specification, and target buyer profile.

Regional players

• YIT: Finnish construction and real estate developer with a substantial Baltic residential footprint. Comparable as a Nordic-rooted residential developer operating in Estonia and the broader Baltic region.
• Bonava: Swedish-listed homebuilder with operations across the Nordics, Germany, and the Baltics, developing for-sale multifamily housing. Comparable as a regional premium homebuilder; operates across the Baltic Sea but not Estonia-based.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

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 TERMAK