On Wednesday, 1 February, Uko Paasik took up his new position as Head of Development and Member of the Management Board of US Real Estate, responsible for the management of all US Real Estate development projects.
“US Real Estate has a development portfolio of more than 200 000 m2 of which approximately 33 000 m2 is under construction. We are working on some of the most important development projects in Tallinn, and Uko Paasik’s long and extensive experience in real estate development will help us to complete these projects particularly well,” said Martin Kolga, Chairman of the Management Board of US Real Estate.
US Real Estate is currently developing the seaward area of the Rotermann Quarter – the Golden Gate office building, the La Marina restaurant building and the planning and design of the Ahtri 3 property. The Park Tondi quarter is also under development, with the Tammsaare 56 office building due to be completed shortly and the construction of the Sõjakooli 6 office building has just started.
Another unique project will be the renovation and complete transformation of the Patarei Naval Fortress into a modern complex of buildings, with the initial plans to complete the Estonian Memory Institute Museum and to conserve the historic buildings.
“US Real Estate is undoubtedly one of the most prominent developers in Tallinn and I am very pleased to join this hard-working team,” said Uko Paasik. “My goal is to optimise the potential of US Real Estate properties. With an overview of the entire development process, I am able to see the big picture and the individual parts of the big picture that need to be emphasized and valorized in order to deliver only great buildings.”
Prior to joining US Real Estate, Uko Paasik ran a self-named consultancy firm, providing real estate development services to major funds and developers such as Eften, Baltic Horizon and Crowdestate. In addition, Mr Paasik has managed the development unit of Arco Investeeringute and Q Vara development projects. The Luther Quarter and Tõnismägi Premium are the shining examples of projects developed by Uko Paasik.