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Newsec appoint Managing Director in Estonia

Roul Tutt has been appointed Managing Director of Newsec Estonia

By hiring a Managing Director specifically for the Estonian market, Newsec aims to present the company and its services more strongly at the local level. Newsec is the only full-service real estate adviser in Northern Europe operating in the Baltics. Its services include research and analysis, valuations, brokerage/agency, asset management and transactions.

“Compared to the Nordic region, the real estate market in the Baltics is very young and has only a short track record of success,” says Ricardas Cepas, CEO of Newsec Baltics. “It seems that Estoniais now taking a positive lead ahead of the other two Baltic countries. We need a professional team here to support our Nordic and European investors, our local clients and our tenants, to avoid repeating the costly mistakes of the past, and to build sustainable businesses in the real estate sector in the future. Roul Tutt’s experience in the banking sector during the recent difficult time for Estonia, coupled with Newsec’s know-how, will bring fruitful results for our clients on the Estonian market on a daily basis.”Roul Tutt has significant experience in the banking sector, including responsibility for sales and marketing, product development and branch management. Until recently he worked as Director of Retail and Corporate Banking and a member of the Management Board at Marfin Pank Eesti AS.

“The Estonian real-estate market is experiencing an interesting phase once again,” Roul Tutt comments. “Investors are now keen again to make well-planned purchase decisions, developers are cautiously choosing their next locations for development, retailers are looking for ways to improve their tenant-base and sellers are trying to assess the highest price they can obtain. One thing is certain – every decision is being carefully analysed and planned, and valuable advice from real-estate advisors with international expertise and experience is more than welcomed by all parties. Newsec has the right skills, expertise and market knowledge to offer to its clients.”

“Estonia is an important market to many Finnish companies. With Roul Tutt joining Newsec, we can even better service these companies in all aspects within real estate” says Kai Keituri, MD of Newsec Finland Oy.

For further information please contact:Ricardas Cepas, Managing Director Newsec Baltics r.cepas@newsecbaltics.com

Saltoniškiu g. 2, Vilnius, LT-08126,LithuaniaTel. + 370 5 252 6444, Fax. + 370 5 252 6446 www.newsecbaltics.com

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