According to Fred Linnukütt, Head of Industrial and Logistics at UUS MAA Commercial Real Estate, a large-scale business, industrial, and residential district is being developed along Vana-Narva Road, covering nearly three square kilometers. While the area currently consists mainly of outdated and deteriorating industrial buildings, several major developers have already started construction. The district is expected to evolve into a business hub comparable to Tänassilma Technology Park—but even larger in scale.
“The Vana-Narva corridor is one of the most promising locations due to its proximity to Tallinn and direct logistical access via the Narva Highway and the Tallinn Ring Road,” Linnukütt explains.
“Development across the area will take years, but developers are working with a long-term vision. Key infrastructure improvements, such as the reconstruction of Vana-Narva Road and Saha-Loo Road—with load capacities built for heavy trucks—have given a strong boost to the area. Public transport access also plays a vital role,” he adds.
The Iru Business Center is already complete, and 20- and 11-story towers combining serviced apartments and commercial spaces are in the pipeline, with construction of the Viieaia Tower already underway. Additionally, a Selver logistics center and several stock-office-type developments—combining showroom, warehouse, and production functions—are being planned or built.
“Without a doubt, this area is becoming a new hotspot for industrial and commercial companies,” says Linnukütt.
The development is expanding toward Muuga Port and Maardu, with the front section closest to Tallinn already under construction or in detailed planning. The area east of Põhjaranna Road also has high potential, with large undeveloped plots available.
“For developers, it’s a plus that the land falls under the jurisdiction of Maardu municipality, where zoning coordination tends to be smoother and faster compared to other suburban municipalities around Tallinn,” Linnukütt explains.
Over the past three years, land prices have doubled, rising from €20 to €40–60 per square meter.
“Prices are higher on the Tallinn-facing side and near the Narva Highway, while the Maardu end is more affordable. Demand is strong, but given the size of the area, there is still land available. These opportunities are rarely advertised publicly—they tend to change hands quietly, off-market,” Linnukütt notes.
Äripäev / Kinnisvarauudised.ee
