Liven AS Reports 155 Sales Contracts as €59 Million Revenue Target Comes Into Focus

Liven AS signed 155 sales contracts in the first nine months of 2026. That is up from 116 contracts during the same period last year. The Estonian developer also said its €59 million revenue target for 2026 was covered by sales contracts by the end of October. However, the company still needs to complete the homes and hand them over on time for the revenue to be recognised as planned.

The third quarter was quieter in terms of handovers. Liven recorded revenue of €3.675 million between July and September, compared with €5.08 million a year earlier. Just seven previously completed homes were handed over during the quarter. The company reported a net loss of €356,000.

Looking at the first nine months as a whole, revenue reached €15.114 million. The figure for the same period in 2025 was €14.399 million. Despite the increase, Liven reported a net loss of €555,000, compared with a net profit of €399,000 a year earlier.

New residential projects in Tallinn

Liven has also added to its development pipeline in Tallinn. The company acquired properties at Pärnu maantee 35, 37 and 41 for its Cosmo project. The purchase was valued at €10 million, with the total investment estimated at around €40 million.

The plans include three buildings with both residential and commercial space. They will range from three to seven storeys and contain more than 160 homes.

Construction is moving ahead at Iseära as well. Work has started on seven additional terraced houses, providing 43 homes. These are expected to be completed in autumn 2027.

Another project is Regati's second phase. Construction began in October, with 102 homes and six commercial spaces planned. The first building is due for completion in the first quarter of 2028.

At Iseära, work has also begun on three apartment buildings containing 34 homes. Completion is expected by the end of 2027.

Most handovers expected in the final quarter

Liven's presale portfolio included 205 sales contracts worth €58.1 million. Of that amount, €41 million relates to buildings scheduled for completion in 2026.

The final three months of the year will be important for the company's results. Many of the planned handovers are due during this period, and Liven expects sales activity to pick up as reservations turn into formal contracts.

There is still a timing risk. The company estimates that around €5 million in revenue could move into early 2027 if construction or handovers take longer than planned. That makes the completion schedule a key factor in determining how much revenue Liven can recognise before the year ends.