Favorte to develop a new business park by Väo junction

„Six commercial buildings with a total area of 21,300 m2 will be built on the 5.5 hectare development area of Väo Tehnopark,“ said Ivo Tammearu, Sales Manager of Favorte. The buildings consist of stock-office commercial premises, i.e. warehousing, production and office space, which, according to Tammearu, allows the company to bring all of its operations under one roof and thus save on logistics, time and other ancillary costs. 

„In recent years, Favorte has focused on the construction of stock-office commercial buildings, for example along Paldiski Road and Tallinn Ring Road. Based on past experience and feedback, we will continue to develop the stock-office concept and encourage companies to try it out,“ Tammearu noted. 

The development of the area around Väo junction has gained momentum and a lot of investments have been made there. According to Madis Lett, the project manager at Favorte, Väo junction is one of the largest road projects in Estonia. „According to Estonian Transport Administration, the number of vehicles using Väo crossroads is currently around 49,000 per day, but this is expected to rise up to 60,000 thanks to the reconstruction,“ he explained. 

Lett adds that in addition to the completion of Väo junction, the upgrading of other road projects in the vicinity has also begun. „Planning for the extension of Rahu road is underway and the reconstruction of Peterburi road is also topical. The intersection of Vana-Narva road and Saha-Loo road junction will also be completed next year, improving access to Maardu and Muuga harbour, “ Lett noted.  

The urban environment surrounding Väo Tehnopark will also be renewed. Thanks to the construction of Väo junction, the neighbouring properties will also be modernised - one of Estonia's largest full-service gas stations for both cars and trucks, more than three kilometres of footpaths and cycle paths, and a smart truck and caravan park will be built. All of the projects listed contribute strongly to the development of a comprehensive business environment in Väo Tehnopark.

„To date, we have signed a construction contract with TREV-2 Grupp AS for the construction of infrastructure. Building permits have been issued for two commercial buildings. Completion of the first building is planned for summer 2023. As it is a real logistics hotspot, it's worth booking your place at Väo Tehnopark early," Favorte's Sales Manager says. 

More information about Väo Tehnopark can be found on the website: vaotehnopark.favorte.ee/en