OREANDA-NEWS. AS Pro Kapital Grupp submitted  on 18.11.2014 an offer to participate in the first round of the combined offer for the sale of „Kopli liinid“ development corresponding to the set sales conditions by the City of Tallinn, which included the written consent to buy the development for at least the initial price totaling 1 500 000 euros, the obligation to develop the area?s infrastructure and the consent to ensure the safety of the area. In the second round of the offer the negotiations were held for specifying several details of the offer. As per the terms and conditions of the offer AS Pro Kapital Grupp had the right to withdraw from the offer at any time prior to submiting the final offer.

Since AS Pro Kapital Grupp has continued in 2015 active development of its real estate projects and lately started the construction works of the large T1 shopping and entertainment centre if Tallinn, the Company decided not to submit the final offer for the purchase of the „Kopli liinid“ development.

The comment of the Chairman of the Management Board of Pro Kapital, Paolo Michelozzi: „It was not an easy decision to withdraw from submitting the final offer for „Kopli liinid“ since the area is exciting and has strong development potential. Yet we wish to focus in coming years to our existing projects, mainly to the development of T1 Shopping Centre and Tondi living district. But we shall keep an eye on Kopli in the future“.