Last update: 03.12.2023 03:36 (GMT+2)
AS Kalev Stock Exchange Release 22.12.2005
Transfer of a registered immovable
On 20 December 2005, AS Kalev Real Estate Company (Kalev REC) transferred
the registered immovable located at Pärnu mnt 139E/2 – i.e. the so-called
Tere building – at the development project price of 39.4 million kroons,
plus VAT. The gross profit to be earned from the transaction amounts to an
estimated 26 million kroons. The company previously planned to realise the
profit in a longer period of time – i.e. during the calendar year 2006.
The transaction does not constitute a transaction with a related party.
Kalev REC is a subsidiary of AS Kalev. The company’s main activities include
real estate development and management. Kalev REC is currently actively
involved in the public real estate market, and has launched development
operations in both the housing and the commercial space sector.
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