• History

    1994 – Pro Kapital is established, making it one of the real estate market leaders in Estonia. The company was founded by the Italian entrepreneur Ernesto Preatoni.

    1996 – Pro Kapital actively starts obtaining development projects, land plots and amortised buildings that are being sold and privatised. Some of the objects acquired in the early stages of its activity are still in Pro Kapital’s portfolio for future development.

    Ilmarise residential/hotel development project starts.

    1997 – Pro Kapital expands to Latvia.

    Pro Kapital Business Centre in Tallinn is opened denoting the completion of Pro Kapital’s first successful development project.

    Pro Kapital begins restoration and development of two apartment buildings in Tallinn Old Town, the Dermini shopping centre and a residential building and an apartment building in Riga Old Town.

    1998 – Pro Kapital expands to Lithuania.

    Listing on Tallinn Stock Exchange.

    1999 – Pro Kapital opens Kristiine Shopping Centre in Tallinn.

    Pro Kapital renovates a historic Art Nouveau building in Riga into apartments and commercial space, another apartment in Riga Old Town and a historic apartment building in Vilnius.

    2000 – Pro Kapital is the project manager for the renovation of a hotel in Tallinn Old Town.

    2001 – Pro Kapital converts an 11,400 m2 old office building situated on the banks of river Daugava into an apartment building and renovates a historic apartment building in Tallinn Old Town.

    Delisting of the company from the Tallinn Stock Exchange. An internal audit discovered that not all information given to the stock exchange by the CFO was accurate. Consequently, Pro Kapital is delisted from the stock exchange. Pro Kapital challenges the decision but drops the proceedings after the stock exchange assures that the company can relist in the future. Shareholders unanimously find that no damage has been caused and no lawsuits or claims are brought against the company. New management board and supervisory council was appointed.

    Domina Shopping Centre project in Riga is started.

    2002 – Pro Kapital begins the development of another apartment building in Riga.

    2003 – Domina Shopping Centre is opened in Riga.

    2006 – The last phase of Ilmarise development project in Tallinn is completed.

    2007 – Sale of Domina Shopping Centre in Riga to the German real estate investment fund  KanAm Grundinvest for 147 million euros.

    2011 – Sale of Kristiine Shopping Centre to the Finnish shopping centre developer Citycon for 105 million euros.

    2012 – Listing on Secondary list of Tallinn Stock Exchange

    Pro Kapital divests its Italian and Russian activities from its Baltic property development operations.