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Major project of Porto Franco in Estonian capital gets new investor

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Major project of Porto Franco in Estonian capital gets new investor

A businessman Oleg Osinovsky has become a new investor of a large-scale developer's project, Porto Franco, implemented in the center of Tallinn, the capital city of Estonia and owned by an entrepreneur Hillar Teder.

According to Ekspress, at the beginning of the year, Oleg Osinovsky was granted a mortgage for plots of land to the value of 7,8 million euro. Also, pension funds show their interest to the project. Some of them intend to join it at a stage of the development, the others prefer to enter the business after the construction is completed.

Porto Franco is a multi-purpose complex of buildings with a promenade at the seaside, which is scheduled to be constructed in the center of Tallinn by the year 2016. The most of the center's space will house trade outlets, offices, as well as foodservice facilities. The object's construction is estimated at over 100 million euro.

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