Kodasema sells its hotel rental project to focus on core business and large-scale developments.
TALLINN, Estonia (January 13, 2021) – Estonia-based architecture and engineering company Kodasema announced today that it has sold its urban pop-up village KODA Park in Tallinn Old City Harbor, Port of Tallinn to investors in a hotel industry start-up. The company will continue to focus on its core business of designing and manufacturing turnkey movable compact houses sold under the KODA brand all over the world.
The goal of the company has never been to be a hotel operator, but above all to create and innovate architectural spatial solutions that serve many needs. “We created the first pop-up village of KODA houses to test the concept of dynamic movable real-estate and showcase the versatility of our internationally acclaimed award-winning houses and their compliance with modern, rapidly changing spatial needs,” said Birgit Linnamäe, CEO of Kodasema. The sale of KODA Park demonstrates the business case of urban infill rental real-estate projects. We are delighted to pass our passionately built pop-up community over to an agile and innovative hotel start-up.”
To serve large-scale developments such as hotels, apartment buildings, residential and holiday parks, senior housing and communities, Kodasema started a collaboration with Harmet, one of Europe’s largest wooden modular house producers – a company with 28 years of experience, over 800 employees and the capacity to produce over 7,000 modular houses a year. The collaboration marks an increase in KODA affordability and quality for large-scale projects – having panelised KODA walls with its timber frame technology, Harmet brings added efficiency and quality to the cooperation, with near semi automation in the production for orders that range from 75 KODA units, and up.
There is already great interest for KODA designs all over the world, and especially in North America, which is why a representative office was opened in New York at the end of last year. The first KODA house manufactured in the USA will be handed over to a California-based customer in Q1 2021.
KODA houses make for excellent building blocks to design and shape whole new communities, quickly. Stackable up to 3 floors, and turnkey, KODA houses allow real-estate developers to change an empty plot into a vibrant urban environment fast, adding accommodation, office or shopping space exactly where it is needed. If needs change – as they often do in today’s constantly shifting world – the durable and elegant mini villas can be easily relocated or rearranged, to meet new conditions.
Turning KODAs into movable assets makes it possible to diversify by sector and geography, reducing exposure to movement in any single market, thus minimizing volatility. KODAs can be used to create multifamily communities, active adult communities and senior communities, temporary hospitality, retail, modular marketing suites, providing developers with long-life, high-quality assets that can be relocated once the lease is up or a better business opportunity emerges somewhere else.
Kodasema is an Estonian design and engineering company that creates innovative living and housing solutions, with a joint venture and manufacturing capability in the USA. Their movable KODA houses function as homes, hotels, cafés, studios, community spaces or even business hubs, while being produced off-site with uncompromising speed and quality. So far KODA houses are present in nine countries and distribution has started into twenty-five countries. The near-term focus of Kodasema is to concentrate on large scale developments and strengthening export capabilities in new markets all over the world.
Press kit: http://bit.ly/KODA_Park_Photos (Dropbox)
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