Mainor Ülemiste, the visionary developer of Ülemiste City transforming Estonia’s innovation landscape, has reached a landmark agreement with Ericsson Eesti to build a state-of-the-art, carbon-neutral smart manufacturing and technology hub spanning 52,500 square meters. The sum of 155 million euros will be invested by Ericsson into the project. Hedman advised Mainor Ülemiste in negotiating the purchase and development agreement and termination of existing lease agreements.
When the project is completed, the Ericsson innovation hub in Ülemiste City will employ 2,200 people. Currently, there are 15 head offices in Ülemiste City. Still, the area’s capacity and potential will grow even more when the first high-rise building in Ülemiste rises in symbiosis with the Rail Baltic terminal and the extension of the shopping centre on Europe Square. Ericsson has been a client of Mainor Ülemiste since 2017 and its cooperation partner in the Future City Professorship.
From Hedman, the client was advised by our Senior Associate, Andres Kivi.