Estconde

What Estconde does

Estconde (legal name Estconde Invest OÜ) is a privately held Estonian real estate development company established in 1992, headquartered in Tallinn at Pärnu mnt 158. The company develops, owns, and operates a diversified portfolio of commercial, residential, and industrial real estate across Estonia (primarily Tallinn), Finland (Helsinki), Latvia (Riga), and a fourth undisclosed market. Its most recognizable completed assets include the City Plaza office building (Tartu mnt 2), the De la Gardie department store (Viru 13/15, completed 2000), and multiple luxury residential buildings in the Kadriorg district.

The company's core product offering spans three asset classes: commercial real estate (City Plaza business center, City Plaza 2 under development for January 2028 completion at Tartu mnt 1 with a EUR 75.5 million Merko design-and-build contract, the Estconde Business Center, and the Toompuistee office building), residential developments (luxury apartments and mixed-use buildings in Kadriorg and other premium Tallinn locations), and warehouse/industrial assets (facilities in Jälgimäe up to 24,000 m² and Seljaku). The technology stack is conventional for the sector — Estconde is a traditional developer with no proprietary software, AI/ML capabilities, or digital platform disclosed.

Estconde generates revenue through three streams: one-time property sales to commercial and residential buyers, recurring rental income from owned commercial and warehouse space, and construction services delivered alongside development activity. The go-to-market is direct sales — customers engage via phone (+372 6 130 501), email ([email protected]), and project-specific websites (cityplaza.ee). Construction is executed through partnerships with established contractors, notably AS Merko Ehitus Eesti for the flagship City Plaza 2 project. The company is privately held with no disclosed external investment, no funding rounds on record, and no parent company identified.

Name

Estconde

Legal name

Estconde Invest OÜ

Website

https://estconde.ee

Company type

Private

Founded year

1992

Operating status

Operating

Short description

Estconde Invest OÜ is a privately held Estonian real estate developer founded in 1992 that develops, owns, and operates commercial office buildings, luxury residential apartments in Kadriorg, and warehouse facilities across Tallinn, Helsinki, and Riga.

Ownership category

akta.pro rank

Headquarters

HQ city

Tallinn

HQ country

Estonia

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Infrastructure, Operations, Personnel, Marketing or Sales

Revenue model

1. Real estate development and sales: Development and sale of commercial and residential real estate properties. Projects include office buildings (City Plaza), department stores (De la Gardie), apartment buildings, and warehouses. Revenue generated from property sales to buyers and tenants.
2. Construction services: In addition to property development, the company provides construction services as part of its integrated real estate offering.
3. Commercial property rental: Leasing of commercial spaces including office and retail units in company-owned properties.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Estconde is a real estate development company that develops, sells, and leases commercial, residential, and industrial properties primarily in Tallinn, Estonia, with additional projects in Finland (Helsinki) and Latvia (Riga). Its portfolio includes office buildings (City Plaza, City Plaza 2 under development, Estconde Business Center, Toompuiestee), retail properties (De la Gardie department store), premium residential apartments in Kadriorg, and warehouse facilities. The company also provides integrated construction services alongside its development activities through partnerships such as AS Merko Ehitus Eesti.

Product overview

Estconde is a real estate development company offering a portfolio of commercial and residential properties. The company operates two main business centers (City Plaza and City Plaza 2), office buildings (Estconde Business Center, Seesami office building, Toompuistee office building), department stores (De la Gardie), residential apartment buildings in premium locations like Kadriorg, and warehouse facilities. Projects span Estonia (Tallinn), Finland (Helsinki), and Latvia (Riga). The company also provides construction services alongside its development activities.

Differentiator

Problem solved

Functional benefit

Products and services

• City Plaza Office Building Completed office and commercial building complex in Tallinn, Estonia, providing office spaces to business tenants.
• City Plaza 2 Business Center New commercial business center under development in Tallinn city center, with space booking underway for businesses prior to its January 2028 completion.
• De la Gardie Department Store Four-story department store in Tallinn's Viru shopping area, completed in 2000, with a total building area of 2,450 m².
• Estconde Business Center Business center at Pärnu mnt 158 in Tallinn offering commercial office space to business tenants.
• Toompuiestee Office Building Office building completed in 2001 at Toompuistee 33a in Tallinn, with 7 floors and a total area of 2,940 m².
• Kadriorg Luxury Residential Apartments Premium and luxury residential apartment buildings in Tallinn's Kadriorg district, including five three-story buildings at J. Poska 31-35 with luxury apartments and mixed-use developments combining residences with office space.
• Warehouse in Jälgiäe Warehouse facility located at Mõisavahe tee 2 in Jälgiäe, available up to 24,000 m² gross area for logistics and industrial users.
• Warehouse in Seljaku Warehouse facility located at Seljaku 4 in Tallinn for logistics and storage users.
• International Real Estate Projects Real estate development projects outside Estonia, including historical apartment buildings in Helsinki, Finland (Lautatarhankatu 2C) and apartment buildings in Riga, Latvia.
• Construction Services Integrated construction services delivered alongside property development projects, including design-and-build contracts (e.g., EUR 75.5 million contract for City Plaza 2 with AS Merko Ehitus Eesti).

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core and minor.

• AS Merko Ehitus EesticoreImplementation/ SI/ Consulting Partner · 19 June 2026Construction partnership for design-and-build contract. AS Merko Ehitus Eesti and Estconde Invest OÜ signed an amendment to a design-and-build contract for an office building (City Plaza 2) at Tartu mnt 1 in Tallinn. The amended contract value is approximately EUR 75.5 million plus VAT, with completion scheduled for Q1 2028. Original contract signed 5 September 2024.
• City Plaza OÜminorOthersCity Plaza OÜ is identified as the data processor for the company's privacy policy operations. Entity appears to be a related operating company for the City Plaza property.

Scale indicators3 records

Recent moves4 records

Expansion highlights3 records

Broad incumbents

• Bonava: Nordic and Baltic residential developer producing neighbourhood and apartment projects. Comparable to Estconde's residential development arm, particularly in the Helsinki/Baltic cross-border segment.
• Merko Ehitus: Estonia-listed construction and real estate group, the design-and-build partner for Estconde's City Plaza 2 (EUR 75.5M contract). Comparable as a vertically integrated construction-and-development incumbent operating across the Baltics.
• JM AB: Swedish residential developer active across the Nordics. Comparable to Estconde's premium Nordic residential work (e.g., Helsinki historic apartment building) as a broader incumbent in residential development.
• YIT Corporation: Nordic construction and real estate developer covering residential, commercial, and infrastructure projects. Comparable to Estconde as a broad incumbent in Nordic residential and commercial development.
• NCC AB: Swedish construction and property development company active across the Nordics in residential and commercial real estate. Comparable to Estconde as a broad Nordic incumbent in residential and commercial development.

Direct peers

• Endover: Estonian real estate developer focused on premium residential and mixed-use projects in Tallinn. Closely comparable to Estconde in targeting the same Tallinn prime-location residential segment, particularly luxury and mid-market apartments.
• Pro Kapital Grupp: Baltic real estate developer with projects in Estonia, Latvia, and Lithuania focused on premium residential and mixed-use developments. Direct overlap with Estconde's Baltic multi-country footprint and premium residential positioning.
• Capital Mill: Estonian real estate developer focused on residential and mixed-use projects in Tallinn. Comparable to Estconde in mid-market residential development and Tallinn-centric execution model.
• Kaamos Group: Estonian real estate and construction group active in residential and commercial development across the Baltics. Comparable to Estconde in integrated development + construction activities and Baltic regional exposure.
• Hepsor: Estonian real estate developer listed on the Tallinn Stock Exchange, focused on residential and commercial development in Estonia and Latvia. Most directly comparable to Estconde by geography (Tallinn/Baltics) and product mix (residential apartments, commercial offices).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance1 record

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 Estconde