EBS Students win the MCM 3rd Annual Real Estate Olympics

The winners of Metro Capital Management Real Estate Olympics 2007 are a team from Estonia - Olavi Kukk, Kristjan Tolk, Kristjan Tiik and Mihkel Härm, who represented the Estonian Business School (EBS) and Technical College of Tallinn, and received the first prize of 1500 EUR. The team developed a real estate project for Tallinn - Pirita tee 26.

The title of the prize-winning project is Maarjamäe Business Centre, described by the team members as a combination of the heritage of the past with modern innovation. The project comprises the functions of an office centre, restaurant and spa complex. The members of the jury described the design’s architectural solution as a unique interplay between the monumental structures characteristic of the 60-ies and the modern architecture dominated by glass and metal that we are so accustomed to. The prize of 1000 Euro went to the universities represented by the winning team.

The second place, and a prize of 1000 Euro, was won by a team from Latvia - Haralds Herfričs, Edgars Ivanovs, Māris Keišs and Andis Zeidmanis. The team chose to develop a property project in Riga. The concept presents the construction of a hotel and office complex. The strong point of the team was a modern and at the same time complicated architectural solution. The team was representing SSE Riga and Riga Technical University.

Winners of the third place are Kalev Kallemets, Tõnu Leevald, Siim Roos from EBS and Inga Rudzate, Markus Haiba from Riga Technical University. The team worked out another development vision for the Tallinn property at Pirita tee 26.

“The current generation of young architects – the participants in the Olympics - is more and more active in sketching their vision of the Riga and Tallinn of the future, in which architecture of various innovative forms exists, although it sometimes can seem unacceptable and not yet tamed. It is a real satisfaction to see how the students develop their designing skills whilst the competition progresses”, said Metro Capital Management Board Member Mart Habakuk at the closing of the Olympics. “This is especially true for their presentation skills, because a well-thought-out, systematic and concise presentation can be much more important than calculations of large-scale complicated formulae which are sometimes not very clear to the students themselves”, he added.

The Olympics took place in several stages from 19 to 30 November in Pärnu, Tallinn and Riga. They were organized by the property developers Metro Capital Management in cooperation with Hansabank.

14 teams totalling 70 participants developed and defended business plans and architectural designs for projects in Riga and Tallinn. The task of the Olympics was to work out a development vision for a parcel of land, taking into account the dominant buildings in the vicinity. It also comprised the task of developing a business plan for the “prospective investors” – members of the jury. Students from Riga had real property – a parcel of land at Grostonas ielā 1, Riga as the project to be developed.

The final projects were evaluated by a jury of six members representing both countries and comprising financiers from Latvian and Estonian commercial banks, chief architects of the Cities of Riga and Tallinn, and practising architects and university teachers.

Estonian Business School awarded EBS students who won the first and third place, with 100% scholarships for the spring semester.