OÜ Ülemiste Ärimaja

What OÜ Ülemiste Ärimaja does

OÜ Ülemiste Ärimaja is a privately held Estonian commercial real estate developer and property manager focused on the Ülemiste business district in Tallinn. The company develops, owns and leases office, commercial and warehouse space, with its flagship completed asset at Peterburi tee 2F (Buildings A and B, each 7 floors) and a pipeline of plots at Peterburi tee 2D (building permit), 2J (detailed plan) and 2B (high development potential). Across these and additional sites — including the historic Pikk tn 60 in Tallinn Old Town and the Merivälja tee 33 project — the firm states it manages more than 100,000 square meters of real estate and is actively expanding into other regions.

The underlying business is straightforward asset ownership and direct-to-tenant leasing. The technology stack is conventional CRE development and property management; there are no proprietary software products, AI/ML components or patents disclosed. Units are marketed through the company's website (ulemistearimaja.ee) with floor plans and unit details, supplemented by Facebook and email/newsletter; rental pricing is quote-based and not publicly disclosed, with rents billed on annual cycles and bundles including finishing, utilities, communications, security and parking.

The revenue model is recurring rental income from a horizontal mix of commercial tenants — primarily small-to-mid businesses seeking modern, strategically located space — plus amenity tenants such as Bistroo Noonbox (opened January 2025 in Building A) and infrastructure-related anchor tenants including Rail Baltic Estonia, which leased project office space at 2F from October 2024 for approximately three years during the Rail Baltica Tunnel No. 5 construction. The company operates with a lean team of 1–10 employees and is structured as an Estonian private limited company (OÜ) with no disclosed parent, institutional owners or external funding.

Name

OÜ Ülemiste Ärimaja

Legal name

OÜ Ülemiste Ärimaja

Website

https://ulemistearimaja.ee

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

1–10 employees

Short description

OÜ Ülemiste Ärimaja is an Estonian commercial real estate developer and property manager in Tallinn that develops and leases office, commercial and historic properties across more than 100,000 square meters in the Ülemiste district and is expanding into other regions.

Ownership category

akta.pro rank

Product category

Commercial Real Estate

NAICS

Real Estate Property Managers (53131), Rental and Leasing Services (532)

SIC

Real Estate (6500), Operators Of Nonresidential Buildings (6512), Real Estate Operators (No Developers) & Lessors (6510)

akta.pro industry

PRIMARYBPAJAGAA

Office Property Management

Business & Public Services/Real Estate Services (Brokerage, Property Management)/Commercial Property Management

SECONDARYBPAJAMAG

Office Real Estate Asset Management

Business & Public Services/Real Estate Services (Brokerage, Property Management)/Real Estate Asset & Portfolio Management

Keywords

• Commercial real estate
• Office space rental
• Property management
• Business premises leasing
• Real estate development

Headquarters

HQ city

Tallinn

HQ country

Estonia

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Marketing or Sales, Others

Revenue model

1. Commercial Property Rental: Revenue generated from renting office and commercial spaces across multiple buildings in Tallinn. Properties include office units, warehouses, and commercial areas with varying sizes.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

OÜ Ülemiste Ärimaja owns, develops, and rents out commercial office real estate in Tallinn, Estonia. The company manages a portfolio of more than 100,000 sqm on Peterburi tee, plus Pikk tn 60 and Merivälja tee 33, offering finished office space, fitout services, and modular QUADRO cube furniture to corporate tenants.

Product overview

OÜ Ülemiste Ärimaja is a commercial real estate developer offering a portfolio of office and commercial rental spaces in Tallinn, Estonia. The company's core offering consists of managed office buildings in the Ülemiste business district, including completed properties (Peterburi tee 2F), properties with building permits (Peterburi tee 2D), and detailed planning (Peterburi tee 2J, 2B). They also develop historic properties such as Pikk tn 60 in Tallinn Old Town. The portfolio spans over 100,000 square meters of managed real estate.

Differentiator

Problem solved

Functional benefit

Products and services

• Peterburi tee 2F (À-Building) Completed multi-tenant office building on Peterburi tee 2F in Tallinn's Ülemiste district, leased to corporate tenants including Noonbox and Rail Baltic Estonia. Suited for companies and public-sector bodies needing ready-fitted office space near the airport.
• Peterburi tee 2D Building plot at Peterburi tee 2D with an active construction permit, intended for development of additional office space in the Ülemiste district. Aimed at corporate tenants seeking new-build office space in Tallinn.
• Peterburi tee 2J Building plot at Peterburi tee 2J with a detailed plan in place, staged for future office development. Targeted at corporate tenants seeking pre-developed sites in Ülemiste.
• Peterburi tee 2B Property at Peterburi tee 2B with development potential, held as part of the long-term Ülemiste development pipeline. Suitable for future office or commercial build-outs.
• Pikk tn 60 Historic renovation project at Pikk tn 60 in Tallinn's Old Town, being converted into modern commercial and office space while preserving the heritage character. Targeted at professional services firms and boutique tenants seeking a central Tallinn location.
• Merivälja tee 33 Commercial property project at Merivälja tee 33 in Tallinn, promoted under the m33.ee address, providing office and commercial space outside the core Ülemiste cluster. Aimed at corporate tenants seeking Tallinn premises outside the main Ülemiste district.
• QUADRO office furniture cubes Own-brand QUADRO cube modular office furniture line supplied to tenants as part of the company's in-house finishing offering, providing ready-made workstation cubes for office occupiers.
• In-house office finishing and fitout services Tenant finishing and fitout service delivered by the company's own in-house team, allowing office tenants to take space ready-fitted to their layout requirements.

Named customers2 records

Segments1 record

Ideal customer profiles2 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 major and core.

• Rail Baltic EstoniamajorStrategic or Co-development Partner · 28 June 2024Rail Baltic Estonia operates its Tunnel No. 5 project office in Ülemiste Ärimaja at Peterburi tee 2F. The lease agreement began in October 2024 for approximately three years during the tunnel construction project. This partnership highlights the strategic importance of the Ülemiste location as a transportation hub.
• Rand TuulbergcoreImplementation/ SI/ Consulting PartnerRand Tuulberg is the construction partner for the Pikk tn 60 project in Tallinn Old Town. With over 30 years of experience in Estonia's construction sector, they are known for technical excellence and client satisfaction, having built enduring and iconic buildings.

Scale indicators2 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• CBRE Group: World's largest commercial real estate services company, offering office property management and landlord advisory globally. Included as a broad incumbent shaping competitive dynamics in the office segment.
• JLL (Jones Lang LaSalle): Global real estate services firm providing property management, leasing and advisory across office portfolios. Relevant as a broad incumbent illustrating the operating model for office asset management at scale.
• Cushman & Wakefield: Global commercial real estate services firm managing office buildings and portfolios on behalf of landlords. Comparable as a broad incumbent in office property management.
• East Capital Real Estate: Nordic / Baltic asset manager running real estate funds that invest in Baltic commercial properties. Comparable as a regional capital provider and landlord active in the same geography.

Direct peers

• Lumi Capital: Tallinn-based real estate investment and development company focused on commercial properties in Estonia. Comparable local landlord / developer competing for the same tenant pool.
• Pro Kapital Grupp AS: Baltic-focused real estate developer active in Tallinn, Riga and Vilnius, developing premium residential and commercial assets including offices. Comparable as a regional CRE developer operating in Tallinn.
• Capital Mill: Estonian / Baltic real estate investment company acquiring and developing income-producing commercial properties. Similar business model of owning and operating CRE in Estonia.
• Hepsor AS: Estonian-listed real estate developer with a portfolio spanning residential and commercial properties, including office and retail assets in Tallinn. Most direct local comparable for Ülemiste Ärimaja in terms of geography and asset class.
• Colonna: Estonian construction and real estate development group with commercial property activities. Comparable as a local CRE developer and landlord in Tallinn.

Regional players

• Mapri Ehitus: Estonian construction and development group active in Tallinn, with overlap in commercial property development. Comparable regional construction-and-development participant rather than a direct office landlord.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/ulemistearimaja.ee

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 OÜ Ülemiste Ärimaja