Press Releases

Technopolis Ülemiste Signs Five Year Lease Extension with Foundation Innove in Tallinn

TECHNOPOLIS PLC                  PRESS RELEASE           July 12, 2012 at 1.30 p.m.

Technopolis Ülemiste Signs Five Year Lease Extension with Foundation Innove in Tallinn

Technopolis Plc’s subsidiary Technopolis Ülemiste has signed a five year lease extension with the Estonian State owned entity Foundation Innove for 4,300 square meters.

– We are very satisfied with the constantly developing environment of Technopolis Ülemiste. We have been residents of Smart Business City during the past five years and we are pleased to continue working in the best working environment, says Foundation Innove member of the Board Silja Kimmel.

Technopolis Ülemiste chairman of the Board Gert Jostov is satisfied with the lease extension and the recognition given to the innovation working environment in Ülemiste campus.

– Over the next two years, Technopolis Ülemiste plans to invest over 30 million euros into building the new triple tower, a fact that makes us one of the biggest business environment developers in Baltics, states Gert Jostov.

Additional information:
Silja Kimmel, Member of the Board, Foundation Innove
Tel. +372 735 0593, e-mail:

Gert Jostov, Chairman of the Board, Technopolis Ülemiste
Tel. +372 52 123 44, e-mail:

Foundation Innove was established in the public interest to implement the EU Structural Funds and carry out educational/training programmes and projects. The founder of the Foundation is the Republic of Estonia, whose rights as the founder shall be exercised by the Ministry of Education and Research. The Foundation organise the development and implementation of qualifications and curricula mainly in the area of general and vocational education, coordinate the development and implementation of career services; prepare, coordinate and implement programmes and projects in the area of lifelong learning and language; fulfil the tasks of an implementing agency of structural assistance and organise training, testing, and collection, analysis and dissemination of education related information.

Technopolis Ülemiste AS is the ‘Smart Business City’ located close to Tallinn Airport. More than 200,000 m2 of office space and hi-tech factories are being constructed in the business park. Its aim is to create an innovative, people-friendly working environment for knowledge-based companies. A total of 46,000 m2 of modern office space had been completed by the end of 2011. Technopolis Ülemiste is a subsidiary of Technopolis Plc, which is specialized in real estate, leasing business premises, and services. The Technopolis Plc share (TPS1V) is listed on NASDAQ OMX Helsinki.

Main news media