Liven AS

About Liven

Liven AS is a residential real estate developer founded in 2014, operating in Tallinn and Berlin, having sold over 900 units across 15 projects since inception. The company focuses on co-designed homes with customers, offering efficient layouts, thoughtful concepts, and a range of interior finish options, and has been ranked the most reputable residential developer in Estonia for several consecutive years.

Liven currently has 10 development projects in Tallinn and its first project in Berlin, with a pipeline of over 1,600 units totaling approximately 123,000 sqm. Liven develops sustainable residential projects and led the Greater Tallinn area in 2025, selling the most homes and generating the highest revenue among developers. Over 70% of Liven’s ownership is held by insiders, including 66.9% by founders and 3.3% through an employee option program, aligning interests with a team of more than 36 experienced professionals.

In 2025, Liven generated revenue of EUR 49.3 million and net profit of EUR 5.4 million, representing an 11.0% profit margin, with return on equity reaching 28.1%. The company targets maintaining an equity ratio of 40%, achieving ROE above 20% and distributing dividends of 25% of prior year pre-tax profit. Liven targets a 20% increase in revenue in 2026, supported by strong pre-sales of EUR 33.7 million from 101 agreements as of the end of 2025.

Additional information: https://signetbank.com/wp-content/uploads/2026/04/Liven-IPO-teaser-EN.pdf

Term Sheet

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